Ethereum Volatility Spike and Its Impact on the Market ethereum volatility spikeSource: Greeks LiveEthereum, the second largest cryptocurrency after Bitcoin, recently reached its annual volatility peak. This was due to bullish momentum continuing throughout the weekend, pushing Ethereum to its highest point in a year. Even so, the block trading pattern showed stability, with no significant peaks or troughs that typically signal large institutional moves. However, the order book for Ethereum Put options, a strategy frequently used by traders anticipating a downturn, has seen gradual improvement. This shows that traders are playing strategically, buying protective puts after a significant bull market rally. Also Read: Despite Promising, European Union Market Regulator Reveals DeFi 'Risks' Capital Movement to the DeFi Market As Ethereum prices rally, investors are starting to move their capital to the DeFi market. In the past two weeks, the price of Ethereum has risen 25%, from $1,540 to $1,910. This seems to have attracted investors' attention to several DeFi projects built on the Ethereum smart contract network. During this period of rising Ethereum prices, the total market valuation of DeFi tokens also increased significantly, with an additional $10 billion invested in various DeFi tokens in the smart contract ecosystem Ethereum.Also Read: First in Europe, Fintech Company Unstoppable Finance Ready to Launch DeFi Bank!SushiSwap: This Week's Hottest DeFi TokenSushiSwap (SUSHI), a Decentralized exchange (DEX) built on the Ethereum network, has become this week's hottest DeFi token. On-chain data shows that SushiSwap DEX has witnessed a significant volume of activity this week, with the price of SUSHI increasing rapidly by 58.55%. When native tokens from DEXs like SushiSwap start to rally, it shows that investors are increasingly moving funds to DeFi assets traded on those trading platforms.