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The metal gained over 11% in the past day, setting an eight-year high price.
Congestion has been a theme for Ethereum over the past few months.
“Altcoin season” may have begun as coins aside from Bitcoin and Ethereum take center stage, outperforming strongly against BTC and the United States dollar.
For most of the past 48 hours, the crypto market was blood red.
Bitcoin’s price action over recent weeks and months has undoubtedly been bullish.
BlockDown 3 is set to host a colossal clash on DeFi as crypto visionaries make bull and bear cases for the decentralized finance movement which is sweeping the industry, the event will take place October 22-23.
Synthetix Network Token’s price has seen some volatility over the past couple of days, with inflows of selling pressure coming about due to the massive amount of SNX tokens stolen due to the recent KuCoin hack.
Late last week, KuCoin, a notable Singapore-based exchange known for its large offering of altcoins, bit the dust.
It’s been quite the year for DeFi.
As Bitcoin and especially Ethereum’s DeFi ecosystem has drawn down from its recent highs, analysts have been left wondering what phase of the market cycle are cryptocurrencies in.