Saturday, April 17, 2021

DeFi boom pushes Universal Market Access (UMA), SwissBorg and Siacoin (SC) higher

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The entire market capitalization of cryptocurrencies surged to $1.139 trillion on Feb. 4, simply in need of silver’s complete market cap at $1.5 trillion.

Whereas the crypto market cap remains to be method beneath that of gold, Bloomberg senior commodity strategist Mike McGlone stated in a report that Bitcoin (BTC) has discovered robust support at $30,000 and it could now rally to $50,000 and better.

Crypto market information every day view. Supply: Coin360

Nevertheless, some institutional buyers who had invested at decrease ranges and are sitting on big income are taking some cash off the desk.

United Kingdom-based Ruffer Funding Administration stated it had initially invested about $600 million in November 2020, which had greater than doubled when Bitcoin hit an all-time excessive at $41,959.63. The agency booked income on an quantity simply greater than their value and determined to let the remaining steadiness trip.

Whereas Bitcoin step by step climbs in the direction of the all-time excessive, altcoins have been hovering, suggesting that merchants have shifted their funds from BTC into Ether and different smaller-cap cash.

Let’s analyze three such tokens which are backed by robust fundamentals.