Market Wrap: Bitcoin Drops to $36.3K as DeFi Jumps to $32B on Ether FOMO
The amount of crypto in USD values locked in decentralized finance has reached $32.8 billion, a new high.
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The amount of crypto in USD values locked in decentralized finance has reached $32.8 billion, a new high.
The investor spotlight is now shining on DeFi tokens and trading.
Its price fell Tuesday but the amount of BTC in DeFi is at its highest in over a month.
A bullish bitcoin mentality appears to be forming in the options market while ether continues on its roller coaster.
There appears to be strong support around $30,000, according to traders.
Bitcoin’s price crested an all-time high $40,000 mark while DeFi total value locked hits a new record on market fervor.
With XRP’s sell-off, bitcoin’s dominance increases. However, the derivatives market hints at more volatility ahead for the world’s leading cryptocurrency.
Bitcoin slipped below $18,000 again Thursday as ether’s volatility in 2020 shows a different dynamic.
Bitcoin fell below $18,000 Wednesday while DeFi closing in on $15 billion locked may have more to do with price than actual cryptocurrency parked there.
Bitcoin briefly dropped below $19,000 on a low-volume day while the ether options market seems to be in decline for now.