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Ethereum is August's record holder crypto, according to a report

Şükriye Akdeniz

Aug 27, 2021

Blockchain platform CryptoCompare has listed the most preferred cryptocurrencies and Ethereum is the most preferred crypto money of August

According to the CryptoCompare report, Ethereum was the record holder for August
Blockchain and cryptocurrency research platform CryptoCompare has listed the most preferred cryptos. According to the report published by the platform, Ethereum products are the most increasing products of August. ETH-based products grew by 46.6%.
According to the information shared in the report published by CryptoCompare, the assets under management of all current investment products have increased by $ 54.8 billion in the last 1 month. In the first three weeks of August, it recorded a 57.3% growth with an average weekly output of $22.5 million.
The crypto that attracted attention in August was Ethereum, the increase in ETH products draws attention
The 72.8% increase observed in investments in Ethereum (ETH)-based products in August was remarkable. According to the report, ETH-based products have reached the highest market share ever in 2021 with 25.2%.
“Ether and ETH-based products have gained significant momentum following the protocol’s recent London Hard Fork as well as growth in NFT markets.”
The report also said the company grew 46.6% in August, bringing its current value to $544 million, the biggest monthly increase since May.
“This increase was largely due to Ethereum monitoring products, specifically Grayscale's ETH Trust product. In addition, average daily volumes increased by 105.9% to $193.3 million.”

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