NewsSep 27

DeFi Tokens Explode And The Bitcoin Taps On $44,000 Amid Chinese Regulatory Uncertainty

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DeFi Tokens Explode And The Bitcoin Taps On $44,000

Summary

  • Crypto market capitalization is up by $150 billion in a day
  • The most notable growth is in the DeFi tokens
  • Uniswap leading the way with a 34% increase in 24 hours

The crypto market capitalization is up by $150 billion in 24 hours as different decentralized finance tokens continue to explode into the double digits category. Currently, the bitcoin price is at $44,000, days after dipping below $41,000.

Most notable growth is in the DeFi tokens market, where tokens continued to charter remarkable gains over the weekend, with Uniswap jumping up 30% in the last 24 hours. Other large-cap altcoins mimicked market rises even though Ethereum dipped to 2800 USD on Sunday. However, it bounced back to 3100 USD after an 11% increased on Monday.

Other tokens in the green include Binance Coin at 8%, Ripple at 6%, Solana at 9%, Polkadot at 7%, Dogecoin at 4.5%, Avalanche at 8.5%, and Luna with a 6% gain. Cardano only gained by 2.5% in a day despite its recent multiple new partnerships announced at the summit over the weekend.

The greatest gains are currently being experienced on tokens in the DeFi space, with Uniswap leading the way with a 34% increase in 24 hours. Other DeFi tokens on the rise include The Graph, PancakeSwap, AAVE, SushiSwap, and Compound, all recording double-digit percentage gains in 24 hours.

Kibet Elikana
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