Bitcoin last night was closing in on $36,000 per coin—the first time it’s been that high in nearly 18 months. The biggest cryptocurrency by market cap has since dipped to $34,949 after briefly touching $35,878 at around 10 p.m. ET last night, according to CoinGecko. DeFi tokens have been surging, with Uniswap’s native token, UNI, leading the charge. The token is up 12% in the past 24 hours, coming in priced at $4.54. Meanwhile, the total value locked across all the DeFi chains has grown by nearly $1 billion since Tuesday and is up 1.5% over the past day. Gaming and metaverse tokens are also doing well. Crypto markets have been receiving a boost recently due to the potential approval of a spot Bitcoin ETF. Investors have been waiting for a product that would give them exposure to Bitcoin for the best part of a decade. Analysts from Bloomberg Intelligence and JP Morgan predict that a Bitcoin ETF could be approved by early next year.
Cryptocurrency markets have been on a surge lately, with Bitcoin and DeFi tokens seeing the most gains. The potential approval of a spot Bitcoin ETF has been driving the hype, as investors have been waiting for a product that would give them secure exposure to Bitcoin for a long time. Analysts predict that a Bitcoin ETF could be approved by early next year. #Crypto #DeFi #BitcoinETF #Bitcoin
You can read more about this topic here: Decrypt: After Bitcoin Tops $35K, Uniswap and Aave Lead DeFi Token Surge