The second cryptocurrency based on market capitalization is up by 8.94% in the last seven days and is trading at $2,013.00 at the time of writing, according to CoinMarketCap.

Crypto whales have been showing interest in Ethereum because addresses holding more than $10,000 ETH ballooned to1,287 on Valentine’s Day, which has been pivotal in boosting Ethereum's uptrend.

Yann & Jan, the co-founders of leading on-chain data provider Glassnode, has disclosed that there are currently at least 100,000 BTC and ETH addresses that hold more than $1 million.

Total Revenue in DeFi Hits $800 Million in January

Ethereum’s present bull run is being boosted by ETH 2.0 going live in December 2021 amid a booming decentralized finance (DeFi) sector. ETH 2.0 offers a transition to the proof-of-stake consensus mechanism from the current proof-of-work as proof-of-stake protocols are deemed more environmental and cost-friendly.

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