Sunday, May 16, 2021

DeFi revival pushes Celo, Venus (XVS) and Fantom (FTM) price higher

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A brand new report by CoinShares suggests Bitcoin (BTC) has garnered 97% of the overall crypto inflows in 2021.

The latest correction in Bitcoin value doesn’t appear to have deterred crypto traders as CoinShares data reveals a document $1.3 billion in crypto product inflows over the previous week. This means that traders are accumulating on the dips fairly than trying to chase increased costs.

Crypto market information day by day view. Supply: Coin360

One other house that has taken large strides prior to now few months has been the decentralized finance sector. Whereas bond yields the world over are reeling near-zero ranges, the engaging yield farming alternatives in DeFi and flash loans have attracted traders, boosting the overall worth locked to $26.1 billion on Jan. 25.

Until the markets are gripped in panic, there are all the time sure sections which can be in a bull part. The tokens chosen immediately have additionally outperformed the broader market within the brief time period.

Let’s examine a few of the basic causes behind their bullish strikes and pinpoint the vital ranges to be careful for.