{"id":180357,"date":"2023-10-25T02:44:59","date_gmt":"2023-10-24T21:14:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180357"},"modified":"2023-10-25T02:44:59","modified_gmt":"2023-10-24T21:14:59","slug":"defi-sector-heats-up-amid-broad-market-rally-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/defi-sector-heats-up-amid-broad-market-rally-crypto-news\/","title":{"rendered":"DeFi Sector Heats Up Amid Broad Market Rally – Crypto News"},"content":{"rendered":"

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While crypto investors remain fixated on the possibility of a spot Bitcoin ETF launching sooner rather than later, the decentralized finance sector has staged a quiet rally, with many tokens outperforming both BTC and ETH.<\/p>\n

The market capitalization of DeFi assets is up 15% to $49.4B, a three-month high. Similarly, total value locked (TVL), a measure of the amount of assets deposited in DeFi protocols, has crossed $40B for the first time since August.<\/p>\n

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DeFi TVL<\/figcaption><\/figure>\n

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In terms of deposits, decentralized exchange Sushi, cross-chain protocol Thorchain, and DAI-focused lender Spark outperformed in October, with TVL up 32%, 25% and 22%, respectively, over the past week alone, according to Defillama<\/a>.<\/p>\n

\"leaderboard\"<\/a><\/p>\n

Bitcoin Hits 17-Month High<\/h2>\n

It\u2019s been a stellar week for BTC, with the world\u2019s most valuable cryptocurrency up 7% in the last 24 hours and 18% in the past week. The action has been driven by speculation<\/a> that BlackRock\u2019s spot Bitcoin ETF may be around the corner.<\/p>\n

Bitcoin rallied above $35,000 for the first time since May 2022 before paring some gains. According to a chart from David Lawant<\/a> of FalconX, yesterday\u2019s short liquidations were the biggest in the past year.<\/p>\n

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\"Bitcoin
Bitcoin Perp Liquidations<\/figcaption><\/figure>\n

<\/a><\/p>\n

Top Gainers<\/h2>\n

Kwenta, a perpetuals trading protocol operating on Optimism, an Ethereum Layer 2 network, saw its token surge 43% in the past week.<\/p>\n

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\"KWENTA
KWENTA Price<\/figcaption><\/figure>\n

<\/a><\/p>\n

Meanwhile, Thorchain\u2019s RUNE and oracle provider Chainlink\u2019s LINK are up nearly 40%.<\/p>\n

DeFi stalwarts AAVE and LIDO have rallied 32% and 22%, respectively, and DYDX is up 29% as the perpetuals exchange gets closer to launching its own Cosmos-based appchain<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

While crypto investors remain fixated on the possibility of a spot Bitcoin ETF launching sooner rather than later, the decentralized finance sector has staged a quiet rally, with many tokens outperforming both BTC and ETH. The market capitalization of DeFi assets is up 15% to $49.4B, a three-month high. Similarly, total value locked (TVL), a […]<\/p>\n","protected":false},"author":2,"featured_media":180358,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-180357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180357"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180357\/revisions"}],"predecessor-version":[{"id":180364,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180357\/revisions\/180364"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/180358"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}