Oct 13, 2021

3 min read

Bitcoin price trends, DeFi is growing

Apart from the recent increase of the bitcoin price, there are other interesting long term trends going on.

One of them is the Weekly Moving Average (WMA) in combination with the surging price. Especially the 200 week moving average looks good.

According to the popular Dutch analist PlanB the price of bitcoin never closes under the 200 WMA.

With a weekly moving average you try to smooth out the price data of a given periode of time. This gives investors an insight in how the trend of the price of an asset is going.

DeFi industry gets to new high

The total valua locked in DeFi platforms is now more than $200 billion. According to data website DefiLlama most of the value is captured on the Ethereum blockhain. But there are more newtorks capturing a share in this upcoming market.

The most popular metric for DeFi is the TVL (Total Value Locked) metric. This is the total amount locked in different DeFi applications with smart contracts.

DefiLlama estimates that $140 billion is currently locked on Ethereum. Remarkable newcomers are Avalanche and Solana.

Binance Smart Chain is the number two on this list with $18,5 billion. Solona comes in third with $11,7 billion. The next biggest chains are Terra, Avalanche and Fantom.

These statistics are estimates, different datasets give you different results. But the message is the same in any case: DeFi is growing.

The TVL across multiple blockchains has reached $200 billion. Data from: DefiLlama.

Read the whole story at The Block

Bitcoin in the United States

Bitcoin is now a talking point in politics in the United States. Politicians use it in their campaigns and some of them even bought BTC as early as 2013.

Senator Ted Cruz is one of those American politicians who pushes bitcoin for his state Texas.

During the Texas Blockchain summit he philosophized about how mining could actually help with the problems on the energy grid.

You can listen to Cruz talking about bitcoin here:

Cynthia Lummis was one of the first senators in the USA that talked openly about bitcoin. In here state, Wyoming, she is trying to create a good environment for companies in this industrie.

She recently bought $50.000 — $100.000 worth of bitcoin. The purchase took place in August of this year.

According to Lummis this is not the first time she bought bitcoin. She bought some bitcoin as early as 2013.

The other side

There are also a lot of prominent Americans who are not a big fan of bitcoin. One of them is Jamie Dimon, chief executive at JPMorgan Chase & Co. He thinks bitcoin is ‘worthless’.

Dimon sees that his customers don’t always agree with him and that’s why they started an in-house bitcoin fund for private bank clients.

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