DeFi tokens book double-digit gains after Bitcoin rallies above $39,000

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The total value of all cryptocurrency in circulation has surpassed $200 billion for the first time, according to new data released by industry analytics and research firm CoinDesk . The total market capitalization of all digital assets was $211.9 billion as of Tuesday, bringing the aggregate value of all crypto assets to $211.9 billion.

A week ago, bitcoin was trading at around $38,000. On Monday, it reached $38,700, according to CoinDesk. Today, bitcoin is trading at $39,218, a new record for the cryptocurrency. Of course, bitcoin isn’t the only cryptocurrency to make gains today. A number of altcoins have also seen double-digit gains. The total market cap of all cryptocurrencies is now at $293 billion, according to CoinMarketCap.

The past two weeks have been extraordinary for cryptocurrency markets, as Bitcoin surged above $40,000 for the first time in over a year, with a more than 50% rally over the same period.. Read more about defi tokens list and let us know what you think.

On July 26, a fresh feeling of confidence returned to the cryptocurrency ecosystem, as Bitcoin (BTC) recovered over $38,900, triggering a market-wide surge in altcoins. 

Amp (AMP), Venus (XVS), and Reserve Rights are the biggest movers in the last 24 hours, according to data from Cointelegraph Markets Pro and TradingView (RSR).

DeFi tokens book double-digit gains after Bitcoin rallies above $39,000Top 7 coins with the biggest price swings in a 24-hour period. Cointelegraph Markets Pro is the source of this information.

The decentralized finance (DeFi) sector accounts for five of the top seven gainers, indicating that DeFi may be gearing up for another big run in 2021.

AMP/USD

Amp (AMP), a digital collateral token system that provides immediate, verifiable guarantees for any type of value transfer, has been the best performance over the last 24 hours.

DeFi tokens book double-digit gains after Bitcoin rallies above $39,0004-hour chart of AMP/USD. TradingView is the source of this information.

According to TradingView data, the price of AMP surged 96 percent from a low of $0.048 on July 25 to an intraday high of $0.094 on July 26 as its 24-hour trading volume rose more than 800 percent from an average of $20 million to $280 million.

XVS/USDT

Today, Venus (XVS), a Binance Smart Chain-based algorithmic money market and synthetic stablecoin system, also experienced a significant breakout.

DeFi tokens book double-digit gains after Bitcoin rallies above $39,0004-hour chart of XVS/USDT. TradingView is the source of this information.

The price of XVS has risen 63 percent from a low of $17.13 on July 25 to an intraday high of $27.95 on July 26 as its 24-hour trading volume increased by more than 600 percent to $180 million, as seen in the chart above.

The protocol now has over $3 billion in total value locked on the platform and over $1.8 billion in accessible liquidity, according to the most recent statistics given by Venus.

RSR/USD

Reserve Rights (RSR), a dual-token stablecoin platform comprised of the Reserve stablecoin (RSV), which is backed by a basket of assets managed by smart contracts, and the RSR token, which helps to keep the price of RSV stable through a system of arbitrage opportunities, was the third-biggest gainer on Monday.

Prior to the current price increase, VORTECSTM data from Cointelegraph Markets Pro started to identify a positive prognosis for RSR on July 24.

The VORTECSTM Score is an algorithmic assessment of past and present market circumstances generated from a mix of data points including market sentiment, trading volume, recent price changes, and Twitter activity, which is unique to Cointelegraph.

DeFi tokens book double-digit gains after Bitcoin rallies above $39,000RSR pricing vs. VORTECSTM Score (green). Cointelegraph Markets Pro is the source of this information.

The VORTECSTM Score for RSR became green on July 24 and rose to a peak of 76, approximately 28 hours before its price surged by 45 percent the following day, as seen in the chart above.

The fee increase comes after the protocol was upgraded on July 24, allowing app users to “deposit and withdraw money on Saturdays and Sundays from 6:00 am to 6:00 pm.”

The author’s thoughts and opinions are entirely his or her own and do not necessarily represent those of Cointelegraph.com. Every investing and trading choice has risk, so do your homework before making a decision.

The demand for cryptocurrency tokens is still on the rise, but not everyone is pleased by the positive outcome of the market.. Read more about defi tokens meaning and let us know what you think.

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Emilia James
By Emilia James

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