The amount of cryptocurrency in the values of USD is locked in DeFi and has hit a new all-time high of $32.8 billion.
Bitcoin has been going through a whole of tumultuous waves throughout the day trades. Meanwhile, Ether performed in a similar manner. On the other hand, decentralized finance has successfully managed to reach a record high with new milestones.
A Furore For Bitcoin
The price of Bitcoin has recently witnessed a decline on the 4th of February 2021, Thursday after it dropped to a $36,207 low level. BTC has managed to gain back and reach a level of $37.616.
Chris Thomas, the head of the institutional sales at Swissquote Back, has recently stated that Bitcoin continues trading at an almost 50 day rolling average price. As a result, everything is positive. He further added that BTC has moved back by a long path during the previous week, Due to this there is a small lack of energy that day. In addition, there is no further pump from Elon Musk.
Even though Elon Musk has not been tweeting regarding BTC, his statements and views appear to be in favor of Dogecoin at this moment. Nonetheless, Thomas is quite correct about the technical aspects of BTC. According to the Trading View chart, Bitcoin has a 50-day rolling average price that seems bullish from October 2020.
There have been a few rotations out of BTC and into the other cryptocurrencies or altcoins. The trading volume shares of cryptocurrencies except for Bitcoin, especially Ether, has been bigger than ever.
ETH has increased $1,600 in the past 3 months and become the 2nd largest cryptocurrency based on market cap. The USD crypto in DeFi has exceeded $32 billion, indicating a more than 197% gain in the last 3 months.
