Nick Chong · 37 mins ago · 3 min read
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Bitcoin’s recent correction that brought it from the $12,000 highs to $9,800 didn’t catch all analysts off guard.
Ethereum has shaken off the intense weakness it expressed throughout the day yesterday, with the cryptocurrency’s bulls now flexing immense signs of strength as its price pushes up towards the key resistance at $380.
Ethereum has slipped lower over the past 10 days as legacy markets have also dropped from their highs.
The stock market has seen some slight weakness today, despite opening to a strong start.
The Ethereum-based DeFi sector took a major hit throughout the past couple of weeks, with Bitcoin and Ethereum’s recent price decline creating shockwaves that have had grave impacts on smaller altcoins.
Nexus Mutual, the insurance coverage provider for decentralized finance (DeFi) protocols, surpassed $74 million in active coverage.
While decentralized finance is seemingly the most exciting aspect of the crypto market, projects in the space still have relatively small valuations compared to top blockchains.
Ethereum has seen some incredibly strong price action throughout the past 24-hours, which has allowed it to erase a good bulk of its recent losses.
Sushi, the governance-cum-liquidity pool tokens for SushiSwap, have seen an unexpected boom in their nascent lifespan in terms of both prices and controversies.
The price of YFI, the native token of the decentralized finance (DeFi) giant Yearn.finance, surged 30% in 1 day.
Since peaking at local highs of $12,075 last week, Bitcoin has experienced a strong drawdown as depicted in the chart below.
Bitcoin has undergone a strong correction over the past few days.
The price of Ether (ETH), the native currency of the Ethereum blockchain network, sharply dropped by 27% in five days.
As covered extensively by CryptoSlate over recent days, Ethereum’s network congestion is reaching an untenable point.
The cost of sending transactions on Ethereum has exploded over the past few months as the network has reached all-time highs in terms of transaction capacity and demand due to growth in the decentralized finance sector.
The ongoing frenzy in the decentralized finance (DeFi) focused crypto market has led to industry leader Bitcoin lose its “dominance” by a significant percentage, data on tracking site CoinMarketCap shows.
The price of Ethereum (ETH) achieved $473 for the first time since June 2018, primarily buoyed by decentralized finance (DeFi).
Nexus Mutual (NXM), the only major insurance protocol in Decentralized Finance (DeFi), surged over the last several days.
Altcoins have performed extremely well in 2020, with a majority of reputable crypto projects easily outpacing Bitcoin.