• Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
Tuesday, August 16, 2022
  • Login
  • Register
Coin24h.com
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining
No Result
View All Result
Coin24h.com
No Result
View All Result
Ledger Nano X - The secure hardware wallet
ADVERTISEMENT

Market Wrap: Bitcoin Breaks $11.8K; BTC in DeFi Doubles in August

20 August 2020
in Market
Reading Time: 2 mins read
A A
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
cryptotrader
ADVERTISEMENT


Bitcoin’s price is trending up while August has been a hot month for the cryptocurrency in decentralized finance.

Bitcoin is on the uptrend, going as high as $11,891 with buyers outnumbering sellers in the market Thursday. ”This is similar to what we saw on Sunday, Aug. 9 – a quick move from $11,500 to $12,000 and then back to $11,300,” said John Willock, CEO of crypto asset manager Tritum. “Maybe we’ve got $13,500 in the next phase up in the coming days,” he added. 

David Lifchitz, chief investment officer for quant trading firm ExoAlpha, expects a bitcoin price bull run to proceed should it overcome a nearby hurdle. “All in all, $12,500 is the key level to watch for a sustainable breakout on strong volume,” he said. ”Anything different will be a fake, as it can be seen many times in a historical chart of BTC/USD.”

In the bitcoin options market, open interest (the number of outstanding contracts) is starting to level off after passing the $2 billion mark for the first time since July.

Juicy returns in the DeFi market are making traders lose interest in options, according to Viashl Shah, founder of derivatives exchange Alpha5. “Every derivatives trader that was looking for incremental yield and levered returns has been besotted by the magnitude of moves in DeFi,” Shah told CoinDesk. “So, naturally, cost of capital dictates at least some attention that way.”

Ether (ETH), the second-largest cryptocurrency by market capitalization, was up Thursday, trading around $415 and climbing 4% in 24 hours as of 20:00 UTC (4:00 p.m. ET). 

At the start of the year, the number of bitcoin locked in decentralized finance, or DeFi, stood at 1,453 BTC. That amount is now up to 48,922 BTC as of Thursday. In August alone, bitcoin in DeFi has more than doubled from 20,890 BTC at the first of the month. Decentralized finance is giving investors new avenues to generate income, or “yield,” and, as a result, bitcoin owners have over $570 million worth of BTC at current prices locked in the DeFi ecosystem. 

Michael Gord, co-founder of trading firm Global Digital Assets, says many traders are taking gains and buying more bitcoin given the potential ephemeral nature of DeFi. “I’d assume that DeFi profits are being put back into BTC as the safe asset,” he told CoinDesk. “DeFi long term will revolutionize finance, but this short-term bubble is bound to pop eventually, in my opinion.”

Digital assets on the CoinDesk 20 are mostly in the green Thursday. Notable winners as of 20:00 UTC (4:00 p.m. ET):

One notable loser as of 20:00 UTC (4:00 p.m. ET):



Source link

Related articles

Tornado Cash Sanctions Are Spiraling Into Compliance Nightmares

16 August 2022

Jump Crypto Picked to Revamp Solana to Make Blockchain More Reliable

16 August 2022
Cryptohopper
ADVERTISEMENT
[crypto-donation-box]
Tags: 118KAugustBitcoinBreaksBTCDeFiDoublesMarketWrap
Share76Tweet47
Ledger Nano X - The secure hardware wallet
Previous Post

Bitcoin and Altcoins Consolidate Losses Above Key Supports

Next Post

Pseudonymous Crypto Trader Trashes Major Altcoins: “Tides Have Turned” To DeFi

Related Posts

Tornado Cash Sanctions Are Spiraling Into Compliance Nightmares

16 August 2022
0

Between Aug. 7 and Aug. 13, users sent in about 11,000 ETH (so this figure went down week-over-week) and sent...

Jump Crypto Picked to Revamp Solana to Make Blockchain More Reliable

16 August 2022
0

“Jump has unparalleled experience with over 20 years of scaling networks and building highly performant software systems,” Dan Albert, executive...

Bitcoin Miner PrimeBlock Cancels Listing Plans, Terminates $1.25B Merger With 10X Capital

16 August 2022
0

Bitcoin mining company PrimeBlock has terminated its plans for a public listing via a merger with special purpose acquisition company...

Crypto Lender Hodlnaut Applies for Creditor Protection in Singapore

16 August 2022
0

Crypto lending platform Hodlnaut has filed an application to be put under creditor protection in Singapore. Source link

DeFi Firms Iron Bank, Yearn Finance Join Layer 2 Protocol Optimism

16 August 2022
0

Developers of the DeFi protocols said that layer 2 networks offer improved security and capital efficiency for users. Source link

Load More
Next Post

Pseudonymous Crypto Trader Trashes Major Altcoins: “Tides Have Turned” To DeFi

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

We publish a comprehensive news feed covering all news relevant to the crypto user, covering main industry news, politics and regulation as well as consumer-level “news you can use” (practical stuff), including handy DIY tips, links to useful tools, unbiased reviews and opinions revolving around cryptocurrency. Simple logic and real-world examples are preferred before technical jargon and personal rants.

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • BNB
  • Cardano
  • Cryptocurrency
  • DOGE
  • DOT
  • Ethereum
  • Litecoin
  • Market
  • Meta News
  • Mining
  • NFT
  • Regulation
  • SHIBA
  • Solano
  • Tether
  • Uncategorized
  • XDC
  • XLM
  • XRP

What’s New Here!

  • Tornado Cash Sanctions Are Spiraling Into Compliance Nightmares
  • Former Navy SEAL and Author Willard Chesney Joins CBS SEAL Team Actor Justin Melnick With NFT Collection Release On The ReserveBlock RBX Network Proceeds To Benefit The Boot Campaign
  • Trend Reversal May Be “Imminent”

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2022 coin24h.com

No Result
View All Result
  • Home
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • XRP
    • Litecoin
    • Altcoin
    • Cardano
    • Tether
    • DOGE
    • Solano
    • XLM
    • DOT
    • XDC
    • SHIBA
    • BNB
  • Blockchain
  • Regulation
  • Market
  • Live
    • Prices
    • ICO
  • Meta
    • NFT
  • Technical Analysis
    • XRP
    • BTC
    • XLM
    • ADA
    • TETHER
    • ETC
    • ETH
    • DOGE
    • LTC
  • Exchange
  • Mining

© 2020 coin24h.com

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$45,716.00-1.31%
  • ethereumEthereum(ETH)$3,456.77-0.85%
  • tetherTether(USDT)$1.000.04%
  • binancecoinBNB(BNB)$439.95-1.61%
  • usd-coinUSD Coin(USDC)$1.00-0.21%
  • SolanaSolana(SOL)$128.84-4.73%
  • rippleXRP(XRP)$0.82-1.94%
  • TerraTerra(LUNA)$111.19-1.25%
  • cardanoCardano(ADA)$1.190.55%
  • AvalancheAvalanche(AVAX)$92.73-3.81%
  • polkadotPolkadot(DOT)$22.10-4.14%
  • dogecoinDogecoin(DOGE)$0.144901-0.44%
  • Binance USDBinance USD(BUSD)$1.000.03%
  • TerraUSDTerraUSD(UST)$1.00-0.03%
  • Shiba InuShiba Inu(SHIB)$0.000026-1.07%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$45,705.00-1.34%
  • CronosCronos(CRO)$0.473031-1.56%
  • matic-networkPolygon(MATIC)$1.63-2.68%
  • Lido Staked EtherLido Staked Ether(STETH)$3,455.57-0.80%
  • NEAR ProtocolNEAR Protocol(NEAR)$15.62-3.50%
  • daiDai(DAI)$1.00-0.09%
  • cosmosCosmos Hub(ATOM)$30.76-3.98%
  • litecoinLitecoin(LTC)$123.39-2.73%
  • chainlinkChainlink(LINK)$17.14-5.68%
  • tronTRON(TRX)$0.069912-3.60%
  • bitcoin-cashBitcoin Cash(BCH)$370.86-0.90%
  • FTX TokenFTX Token(FTT)$49.41-1.74%
  • ethereum-classicEthereum Classic(ETC)$45.69-1.36%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • algorandAlgorand(ALGO)$0.88-4.27%
  • stellarStellar(XLM)$0.231372-0.55%
  • leo-tokenLEO Token(LEO)$5.95-0.02%
  • OKBOKB(OKB)$20.68-0.82%
  • UniswapUniswap(UNI)$11.31-3.17%
  • vechainVeChain(VET)$0.076890-1.96%
  • Axie InfinityAxie Infinity(AXS)$63.07-4.37%
  • HederaHedera(HBAR)$0.235142-4.16%
  • Internet ComputerInternet Computer(ICP)$21.47-0.24%
  • filecoinFilecoin(FIL)$24.44-2.18%
  • ElrondElrond(EGLD)$189.04-2.56%
  • decentralandDecentraland(MANA)$2.61-2.92%
  • The SandboxThe Sandbox(SAND)$3.40-2.47%
  • FantomFantom(FTM)$1.52-3.28%
  • moneroMonero(XMR)$214.53-0.30%
  • wavesWaves(WAVES)$37.59-24.48%
  • theta-tokenTheta Network(THETA)$3.76-6.47%
  • cETHcETH(CETH)$69.26-1.11%
  • tezosTezos(XTZ)$3.80-4.12%
  • ApeCoinApeCoin(APE)$11.60-3.99%
  • The GraphThe Graph(GRT)$0.480061-4.90%