Top DeFi Coins Boom 5-20% As Ethereum Roars Higher, Fundamentals Strong

2020-10-10 04:07

Ethereum has undergone a strong surge in the past 24 hours as buyers have stepped back into the crypto market. In the past day alone, ETH has gained 5%, as it currently trades at $368. For context, Bitcoin is only up around 1.5%.

The buying was seemingly triggered by the ending of a seeming capitulation in the altcoin market on Tuesday and Wednesday, coupled with news of ongoing stimulus discussions. The stimulus discussions seemingly drove the value of the U.S. dollar lower, driving alternative cryptocurrencies higher.

Defi coins have performed extremely well over the past 24 hours to 48 hours. Most coins pertaining to the space are up 5-20% in the past 24 hours.

Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Ethereum Roars Higher, Forcing Defi to the Upside

Ethereum’s strong move to the upside on Friday triggered a sea of green for the DeFi market.

According to CoinGecko, leading DeFi coins have gained 5-20% over the past 24 hours. Band Protocol (BAND), Nexus Mutual (NXM), and Yearn.finance (YFI) are among the many DeFi coins that are part of this pack surging higher.

Related Reading: MicroStrategy’s Stock Continues to Soar After BTC Purchase

A series of Ethereum-based coins are surging by different amounts for different reasons.

Band Protocol is up around 15% in the past 24 hours seemingly related to Binance Launchpad’s yield farming opportunities for a new token called ALPHA. Users can deposit their BAND and earn ALPHA over time.

Yearn.finance has gained over 10% in the past 24 hours as Andre Cronje, founder of the project, confirmed that he is still working on the project. The Ethereum-based YFI is also rallying after a number of large short holders closed their positions. The closure of these shorts forced the price higher as confidence returned to the market.

Related Reading: MicroStrategy’s Stock Continues to Soar After BTC Purchase Featured Image from Shutterstock Price tags: ehth, ethbtc Charts from TradingView.com Top DeFi Coins Boom 5-20% As Ethereum Roars Higher, Fundamentals Strong

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Ethereum (ETH) на Currencies.ru

$ 2433.19 (+0.72%)
Объем 24H $17.904b
Изменеия 24h: 1.39 %, 7d: -7.53 %
Cегодня L: $2411.94 - H: $2434.92
Капитализация $292.997b Rank 2
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Источник: newsbtc.com

past ethereum → Результатов: 126


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Analysts Expect Ethereum (ETH) to See Increased Bullish Momentum as Crypto Markets Trade Mixed

The crypto markets have experienced decent levels of bullish momentum over the past couple of weeks that has allowed virtually all major cryptocurrencies to recover some of their recent losses. Ethereum (ETH) is one notable gainer that has jumped nearly 45% from its monthly lows and has firmly reclaimed the number two spot by market.

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Drastic Shift in Sentiment in Crypto After Bitcoin Surges: Technical Indicators Point Toward a Rally

Since Bitcoin (BTC) embarked on a bear market rally on Sunday, pushing past $3,600, $3,700, and $3,800 in rapid succession, the waters of the nascent crypto market have quieted. As of the time of writing, Ethereum, EOS, among other leading crypto assets have posted single-digit percentage losses — nothing to write home about.

2019-2-20 19:28


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