DeFi Helps Ethereum Surpass Bitcoin in Adjusted Transfer Value

The 7-day average adjusted transfer value of Ethereum’s native ETH token has for the first time since early 2018 surpassed that of bitcoin (BTC), a new report from crypto analytics firm Coin Metrics showed. According to the report, the ‘flippening’ is due to ETH increasingly being used for transfers between DeFi applications, which overwhelmingly are built on the Ethereum blockchain. Also, Coin Metrics pointed to the launch of ’s yETH vault, which allows users to earn interest on their ETH hold