The price of the Ethereum digital currency yesterday, Sunday, reached its highest level in two years, due to 3 factors that indicate that the alternative currency may rise above this level.

Over the past two weeks, the price of Ethereum has risen 75%, from the level of $ 222 to $ 390, according to Queen Telegraph.

Many investors believe that Ethereum's momentum is boosting the entire market, and possibly pushing the Bitcoin digital currency (BTC) up.

<3 dir = "rtl" style = "text-align: justify;"> There are 3 factors that seem to lead to a strong rise in Ethereum: decentralized financing, Ethereum version 2.0, and the current long-term rise that occurs in the alternative currency market. < / p>

Decentralized finance growth is driving the alternative currency, but there are bearish signs

Since mid-June, the total value booked in decentralized financing (DeFi) protocols has continuously increased. The release of protocol tokens, such as the COMP token for example, has increased the demand for decentralized financing.

Ultimately, users discovered a phenomenon called revenue search, which involved users searching for higher returns in the decentralized finance market and switching from one protocol to another to obtain Incentives.

The tremendous growth of the decentralized finance market in a short period of time has led to many tokens associated with decentralized finance rapidly rising. In July, investors sold what appeared to be decentralized financing tokens and other major currencies of small market value, and moved again to Ethereum and Bitcoin.

The price of Ethereum today reached its highest level in two years as it rose to $ 395 on the Bitmix, but this warned traders against a possible decline.

Indeed, crypto trader Edward Mora said: Yes, the parabola to exit from the other parabola is a sight worth seeing. Also, this is not sustainable and will be corrected. If you are new in this area - buy dips and don't think about tops.

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