June 2 Daily report: Ethereum investment products hit a market-share high of 27%, Bitcoin Steadies above 100 SMA, Polkadot ETP hits Swedish stock market, Defi protocols generated more than $370 million in revenue and Crypto Analyst Explains How Cardano ($ADA) Price Could Get to $5
Defi protocols generated more than $370 million in revenue during May
Decentralized finance (Defi) protocols built on Ethereum produced all-time high revenues in May, according to data compiled by The Block. Taking the top spot for the month was Uniswap, reaching $153.9 million (41.4%) of the $371.6 million total monthly Defi protocol revenue. Sushiswap had the next largest portion at 20.3%, followed by Aave at 16.6%.
Ethereum investment products hit a market-share high of 27%, report says
Ethereum has hit a market-share high of 27% of all digital asset investment fund products following recent price corrections, according to a digital asset fund flows report by CoinShares, Europes largest digital asset investment firm.
Bitcoin Steadies above 100 SMA, Heres How BTC Could Start Fresh Increase
Bitcoin price corrected lower from the $38,000 resistance zone against the US Dollar. BTC is holding the 100 hourly SMA and it could start afresh increase in the near term. Bitcoin is holding a couple of important supports near the $36,000 zone.
The price is currently trading nicely above $36,000 and the 100 hourly simple moving average.
Polkadot ETP hits Swedish stock market
The mainstream market now has a new way of buying and selling the crypto asset Polkadot via an exchange-traded product. The mainstream financial world has taken notable strides to incorporate various crypto assets. A new exchange-traded product (ETP) for Polkadot (DOT) recently surfaced on a mainstream exchange in Sweden.
Crypto Analyst Explains How Cardano ($ADA) Price Could Get to $5
Cryptocurrency trader and analyst Michaël van de Poppe says he believes the price of Cardano (ADA) has the potential to surge to the $5 mark based on technical analysis. The analysts words came in a recently published video, first spotted by Daily Hodl, in which he said the price of the fourth-largest cryptocurrency by market capitalization, ADA, could surge to $5 per coin. In the video, after analyzing BTCs price chart, van de Poppe said Cardano has been continuously making higher lows.
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- June 2 Daily report: Ethereum investment products hit a market-share high of 27%, Bitcoin Steadies above 100 SMA, Polkadot ETP hits Swedish stock market, Defi protocols generated more than $370 million in revenue and Crypto Analyst Explains How Cardano ($ADA) Price Could Get to $5
BuyUcoin Blog | By Anubha Singh
Read more: https://www.buyucoin.com/crypto-labs/defi-protocols-generated-more-than-370-million/
Text source: BuyUcoin Blog
