30 Second Cryptocurrency Price Summary
Current Bitcoin Price: $10,093
Bitcoin price has bounced from sub-$10,000 levels yet again, following another test of recent lows overnight.
Top-20 altcoins are looking healthier over the last 24 hours of trading, as Ethereum and XRP each rise 1%, while Binance Coin gains 5% and TRON jumps 12%.
Top Stories for September 8, 2020
Chinese interest in decentralized finance (DeFi) appears to be on the rise, with local exchanges seeing mass withdrawals for DeFi uses.
Searches on WeChat – a popular Chinese social media platform – has observed a record number of daily searches for the term “DeFi” this month, almost doubling the previous record.
DeFi assets have seen a large drop over the last few days, however, with total locked value falling falling over 20% from all-time highs.
South Korean cryptocurrency exchange Bithumb has been raided by police for the second time in a week, seizing evidence related to a fraud case.
The first raid occurred last Wednesday, however the latest raid targeted offices from the exchange’s parent company, Bithumb Holdings.
Both raids were linked to a $25 million token sale and proposed acquisition which never transpired.
Swerve Finance – a fork of DeFi project, Curve – has reached 40% of Curve’s total value locked within just four days since launch.
Total deposits in swerve have reached a substantial $415 million, compared to Curve’s $1 billion.
Trading volumes are still significantly higher on Curve, however, with $160 million per day vs. Swerve’s $13 million.
The post Chinese Demand For DeFi On The Rise – September 8 appeared first on BitcoinPrice.com.
Source: Chinese Demand For DeFi On The Rise – September 8