BITCOIN SEES HUGE VOLUMES | Ethereum and The DeFi Ecosystem | Phemex Exchange | Crypto news

Bitcoin and the cryptocurrency market is showing positive growth with most coins in the top 100 showing price improvement. Bitcoin Price Hit $9800 Yesterday as Whales Move $2.4 Billion in BTC, also surpassing those levels along with a sudden spike in the Open Interest. The community is enthusiastic about the upcoming Bitcoin halving event, however, the Novel coronavirus outbreak in China is severely hurting the region’s mining business.

This week saw decentralized finance total value locked increase by 138M from last week to reach all time high of 927M. Throughout the week, the climb was steady and consistent gains. Maker – the leading DeFi product’s dominance is at 58% and locked value in this lending category protocol has surpassed 538M. The rise can be attributed to massively improving Ethereum prices, which account for most of value locked in DeFi products. Ethereum is currently trading at 190$ and gaining further ground, up 12.6% from last week’s price of $166.

References
Bitcoin Price Hit $9800 Yesterday as Whales Move $2.4 Billion in BTC

[Sponsored] Phemex Cryptocurrency Derivative Exchange: What Makes it Special?

Crypto in 2020 :: Pantera Blockchain Letter, January 2020
View at Medium.com
Value locked into DeFi protocols has crossed $1 billion

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