قالب وردپرس درنا توس
Home / Business / Market wrap: Bitcoin worth $ 11,450, DeFi now locked at $ 4B

Market wrap: Bitcoin worth $ 11,450, DeFi now locked at $ 4B



Bitcoin and ether continue to provide benefits on Friday, and stakeholders are increasingly investing their cryptocurrency in DeFi.

  • Bitcoin (BTC) trades at approximately $ 11,333 from 20:00 UTC (16:00 ET). Profit 2% in the last 24 hours.
  • Bitcoin 24-hour range: $ 10,974 to $ 11,460
  • A BTC above the 10-day and 50-day moving averages is a serious signal to market technicians.

btcjul31
Bitcoin trading on Coinbase from July 28.
Source: TradingView

The price of Bitcoin rose $ 11,460 over Friday’s increase in purchases, continuing its bull run to cover a week of economic uncertainty.

Read more: Bitcoin on the road to the highest price increase in July in 8 years

“US second-quarter GDP was roughly out, and in traditional markets, sharply lower yields and weak stocks were risky,” Dan Coehler, liquidity manager at cryptocurrency OKCoin, told CoinDesk. “In my opinion, this is a very important time for bitcoin.”

In fact, stocks start to whip on Friday and major global indices are low or low.

btcvsstovcks
Bitcoin (gold), S&P 500 (blue), FTSE 100 (green) and Nikkei 225 (red) in July.
Source: TradingView

Bitcoin outperformed major stock indices in July, rising more than 20% in a month. “It will be interesting to see how this time bitcoin behaves risky, fragmented and has so far kept above $ 10,400,” added OKCoin CEO Koehler.

Read more: U.S. banks can now offer cryptocurrency storage services, the regulator says

According to Michael Rabkin, Head of Institutional Sales at the cryptocurrency trading company DV Chain, a cycle of positive news in the field of cryptocurrencies is helping the market. “We’ve seen more purchases in the last few days, precisely after last week’s announcement that would allow banks to keep up,” he said.

“It simply came to our notice then. As we have seen, this has led to growth, ”added Rabkin.

Mostafa Al-Mashita of Global Digital Assets, a digital asset-oriented trading bank, said alternative cryptocurrencies or altcoin are where he expects traders to make a profit in the near future. “The market is consolidating as altcoins have caught up with the latest bitcoin pump,” he said. “I would expect the altcoins to develop in a few days before the bitcoin goes up again.”

Read more: Coinbase considering 19 additional crypts for listing

DeFi recorded $ 4B

Ether (ETH), the second-largest cryptocurrency in terms of market capitalization, rose until Friday, trading at about $ 344 and rising 3.1% in 24 hours from 20:00 UTC (16:00 ET).

As of June 1, the total value of decentralized finance, or DeFi, managed by Ethereum, has increased 300% from $ 1 billion to $ 4 billion, according to data aggregator DeFi Pulse.

tvljul31
In total, DeFi has closed in the last three months.
Source: DeFi pulse

In just two months, Bitcoin’s overall DeFi lock has more than quadrupled, from 4,975 to 20,610 BTC. DeFi’s total lockable ether increased by 60%, from 2.6 million. Up to 4.2 million ETH. Stablecoin dai lock increased by 19%, from 365 million. Up to 435 million

Read more: The Aave LEND brand jumps 23% according to the liquidity mining plan

Azamat Malaev, founder of the new DeFi protocol, which provides interest-bearing tokens, said the catalyst for this growth was investors locking in cryptography to a major DeFi lender to achieve “yields” or profits. “It simply came to our notice then. The distribution of joint tokens has started, “he said. “And, of course, over time, information began to spread.”

Other markets

CoinDesk 20’s digital assets are mostly larger on Friday. Top winners from 20:00 UTC (16:00 ET):

Noticeable losses from 20:00 UTC (16:00 ET):

Read more: Chainlink’s rapidly growing brand is showing a lucrative role for Oracle

  • The price of gold increased by 0.90%, and at the time of press – by $ 1,973.
  • The oil is smooth, green 0.12%. The average price per barrel of raw West Texas: $ 40.37

Read more: The dollar falls to its lowest level in 2 years until shiny gold, silver, bitcoin

  • U.S. Treasury bonds fell on Friday. Yields, moving at the opposite price, fell the most in two years – in the red by 12 percent.

Read more: Ripple paid MoneyGram $ 15.1 million USD Market Development Fees in the second quarter

Disclosure

CoinDesk, the leader in blockchain news, is a media tool that pursues the highest standards of journalism and adheres to a set of strict editorial policies. CoinDesk is an independent subsidiary of Digital Currency Group that invests in cryptocurrencies and blockchain companies.


Source link