Crypto Today: Ethereum price crosses $3.7K as Tron and Avalanche lead DeFi Market rally

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Ethereum 뉴스

Cryptocurrencies,TRON,Avalanche

Ethereum price crossed the $3,700 mark as it outperformed Bitcoin on Wednesday amid positive tailwinds from news reports that the Securities & Exchange Commission (SEC) could approve staking for crypto ETFs in the US.

The total cryptocurrency market valuation hit $3.54 trillion on Tuesday, a new all-time high. The crypto market is now on course for its sixth consecutive positive daily trading session. Bull seized control in the derivatives markets as bears booked 51% of the $343.14 million liquidations recorded on Tuesday. Altcoin market updates: Ethereum breaches $3.

This suggests that the crypto market rally has not only been driven by speculative demand for key assets but also by inflows from fresh investments in core yield-bearish DeFi services and the dovish macro economic landscape. Unsurprisingly, prominent DeFi-focused Layer-1 projects such as BinanceCoin , Solana , Tron and Cardano have recorded gains in excess of 100% during this period. The next Fed rate decision is slated for December 17.

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