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Ether Rallies Following Bitcoin's Recovery, Performs Well As Interest In DeFi Continues To Swell
Summary: Ethereum has been up Thursday, trading around $1,332.19 and gaining 3.37% in 24 hours as of writing. Vishal Shah, an option trader and founder of derivatives exchange Alpha5 told CoinDesk that Ethereum has followed most other cryptocurrencies in following Bitcoin's recovery. The growth of DeFi is also a leading source for Ethereum's upwards price momentum. ...
Ethereum has been up Thursday, trading around $1,332.19 and gaining 3.37% in 24 hours as of writing.
Vishal Shah, an option trader and founder of derivatives exchange Alpha5 told CoinDesk that Ethereum has followed most other cryptocurrencies in following Bitcoin's recovery. The growth of DeFi is also a leading source for Ethereum's upwards price momentum.
“Blue-chip DeFi names have been performing quite well,” Shah said. “Ether still remains a proxy for that world.”
At press time, most DeFi tokens on Messari’s DeFi Asset tracker are higher. At the same time, the total value locked (TVL), as provided by analytics website DeFi Pulse, was at $26.4 billion for the past 90 days. On Wednesday TVL was at a high of $29 billion for the past 12 months, DeFiPulse shows.
By Emily Mason
Tags: Bitcoin,BTC,ETH,Ethereum
Link: Ether Rallies Following Bitcoin's Recovery, Performs Well As Interest In DeFi Continues To Swell [Copy]
