Bitcoin saw inflows of about US$145m previous week even though it suffered with the outflows of US$42m at Friday. It was also bore the brunt of various investor nerves. Also, majority of the fund outflows in crypto and bitcoin and various other alternative cryptocurrencies such as altcoins. It also occurred during latter half that suggested that the investors are quite sensitive with sudden swing in the price.
Great opportunity in Altcoins Market
The investors still find some wonderful opportunity in market of altcoins. Such as, Solana products which saw continuous inflows of about $4.6 million, apparently unaffected by latest price nerves. SOL token of Solana is also down with 19% for last week. As compared to the 12% drop in the BTC and also drop of 5% in ETH.
Acquisition of Ethereum
Polygon acquires Ethereum and Altcoins which scale up the startup for $400 million at the token of $MATIC. Such kind of announcement was also made at virtual event of Polygon. With such kind of purchases, Polygon aims to become the multipurpose product scaling for Ethereum – the great strategy shifts from an Ethereum competitor.
DeFi Yields
Cryptocurrency and altcoins exchange says about the opening up of DeFi which means decentralized finance to investors that want the high yields earned. These yields are based from borrowing and lending of the crypto assets. The stablecoin pegged to U.S. dollar will be deposited in the DeFi lending platform. The Compound returned the variable APY or annual percentage yield rate about supplying DAI which fluctuates between 2.83% and 5.39%.
The platform of DeFi raises $15 million in the funding round which is led by Ribbit Capital. The Slingshot, where the service which allows the users to trade absolutely directly from wallets even when aggregating the liquidity all across the range of various decentralized exchanges, has even raised $15 million in the funding.
