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Today’s Cryptocurrency Headline
According to DeFi LIama, the stablecoin exchange platform Curve’s total lock-up volume topped $20 billion, an all-time high. Curve is currently deployed in multiple chains. The current top three chains are Ethereum ($17.75 billion), Avalanche ($725 million) and Arbitrum ($642 million).
Bingbon’s Bitcoin Chart
Based on the daily chart, Bitcoin bulls are gaining momentum and may have a chance to test the previous high resistance level today. Ethereum, the world’s second largest cryptocurrency by market capitalisation, rose to a new all-time high of $4,700 today, after breaching $4,600 for the first time. ETH price has been on a strong run recently, driven by the idea that blockchain technology will become more widespread.
Ethereum has been the winner of the base Layer of blockchain, known as Layer 1. Ethereum will also continue to play an important role in the development of NFT and the metaverse ecosystem. The lack of Bitcoin-denominated trading opportunities has reduced the weight of Bitcoin in institutional investors’ overall portfolios. While interest in BTC has declined, demand for emerging Layer1 protocols, including Solana, has grown, making them a natural destination for DeFi revenue opportunities.