DeFi surge, rising TVL and new partnerships underpin Ren’s 100% rally
The DeFi boom and search for projects offering interoperability recently sent Ren’s price and total value locked to new all-time highs. Interoperability between blockchains is rapidly becoming one of the buzz phrases being thrown around when discussing decentralized finance and the coins most likely to rally during an altcoin bull run. The rapid growth of DeFi, its ever expanding total value locked and soaring ETH gas fees further highlight the sector’s need for a layer 2 option that also supports the ability to transact value across different networks. REN’s open protocol is designed....
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Bitcoin price has continued its surge in the most recent rally that began last week and is close to ringing in the $600 milestone. The Bitstamp Price Index (BPI) struck a high of $585 today, continuing its strong surge that began during the last days of May. Having plateaued around the $450 mark for much of the past few weeks, BPI soared from $469.40 to $500.56 on May 28th, in a rally that started the day before and one which is now nearing toward $600. At the time of publishing, bitcoin was trading to the dollar at $584.52. Today’s high of $585 on the BPI rang in at 07:45 UTC. The last....
A rally in blue-chip DeFi tokens and the sector’s rising total value locked has traders hopeful that a prolonged rally will take place. Decentralized finance (DeFi) was one of the main factors that pushed the crypto market higher throughout 2021 and to date, platforms like Uniswap (UNI), SushiSwap (SUSHI) and Aave (AAVE) form the bedrock of the sector.Similar to altcoins, DeFi tokens took a severe beating as Bitcoin price corrected from its $65,800 all-time high, and data from Cointelegraph Markets Pro and TradingView shows that since DeFi index perpetual futures contract hit a low of....
The recent DeFi frenzy has seen $900 million worth of Bitcoin tokenized using Wrapped Bitcoin over the past two months. The recent DeFi bull-cycle has pushed the total value locked (TVL) of popular Bitcoin (BTC) tokenization protocol Wrapped BTC (WBTC) up by 900% to surpass $1 billion.The milestone comes four weeks after the TVL of all Bitcoin tokenized on Ethereum (ETH) surpassed $1 billion for the first time . The current TVL of tokenized Bitcoin is nearly $1.5 billion, of which WBTC currently represents one-third.Wrapped Bitcoin is now the fifth-largest DeFi protocol in terms of TVL,....
MATIC’s recent rally and partnerships are turning heads and on-chain activity may hint at further growth. In the past year, Polygon (MATIC) has focused on growing their list of high-profile partners which includes luminaries like Disney, Starbucks and Robinhood. The recent announcements of partnerships with both Instagram and JPMorgan have speculators pushing the token price up nearly 200%. In addition to partnerships, blockchain adoption through network usage is important to analyze. Blockchain adoption can be analyzed by looking into daily active users of the blockchain, protocols using....
The total value locked in DeFi protocols soared to $233.8 billion as rising token prices and the increasing integration of stablecoins helped send the metric to a record high. Bullish sentiment is running high across the cryptocurrency market on Oct. 20 as Bitcoin’s (BTC) surge to a new all-time high at $67,000 thrust the digital asset into uncharted territory and investors are closely watching to see how altcoins and DeFi tokens react to the move.Crypto Fear & Greed Index. Source: Alternative.meThe DeFi sector has also benefited from BTC's bullish breakout and today the total value locked....