Crypto Market Digest from FxPro
The loudest news on the crypto market in the last 3 years is that Bitcoin was able to step over the $ 23,000 line. The first cryptocurrency was finally able to overstep difficult technical and psychological resistance levels. At the same time, the volume of trade in digital coins is growing. 8 top crypto exchanges showed a turnover of $ 3.5 billion last Thursday. Compared to the traditional market, this is not enough, but experts at FxPro are confident that this is just the beginning.
The next positive thing for all crypto enthusiasts is the growing popularity of DeFi. An all-time high was reached - $ 16 billion. Since the beginning of 2020, the growth has been 2,200%. FxPro experts say that decentralized applications are playing a significant role in the bullish rally in the cryptocurrency market.
The FxPro analyst team has also announced institutional support for Bitcoin. One River Digital Asset Management hedge fund is known to have bought $ 600 million worth of BTC. In addition, in 2021, the company wants to increase the volume of digital assets to $ 1 billion.
Note that you can get acquainted with all the pros and cons of the broker in the FxPro expert review on our portal.