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Ethereum’s market worth has increased by over $20 billion in the last week as the crypto market has turned green

The second-largest cryptocurrency by market capitalization, Ethereum (ETH), is suddenly trading in the green.

Ethereum, in example, has experienced a market capitalization increase of almost $20 billion in the last seven days.

According to CoinMarketCap, comparing the market value of the DeFi asset on March 10 to the current overall market value of ETH, which stands at $332.17 billion at the time of posting on March 17, results in a total influx of $20.45 billion.

Ethereum 7-day market cap. Source: CoinMarketCap

Eth is currently selling at $2,768 per coin, up 3.38 percent today and 6.55 percent in the previous week.

Ethereum 7-day price chart. Source: CoinMarketCap

According to data from crypto analytics firm Santiment, Ethereum’s utility has not decreased.

Indeed, the platform tweeted on March 16 that the number of daily active addresses (DAA) for Eth has stayed consistent over the last four months, despite the cryptocurrency’s price dropping by roughly 35%.

Ethereum DAA. Source: Santiment

The difference between the DAA and the price of Ethereum has resulted in a bullish divergence for the main smart contract platform.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.