![]() Securities and Exchange Commission (SEC) enforcement actions against crypto industry players. The increase came against the background of rising U.S. The value of digital assets under management (AUM) for digital asset investment products in February rose to $28.3 billion, the highest number recorded since May 2022, according to Cryptocompare stats. Yet, the TVL might see an uptick due to the upcoming debut of its LSD. This could seem little in comparison to other Decentralized Finance protocols. Is your portfolio green? Check out the Yearn Finance Profit CalculatorĪs of this writing, Ethereum, Fantom, Optimism, and Arbitrum made up the $443.14 million Total Value Locked (TVL) on Yearn Finance, per DefiLlama. Yearn Finance revealed in a post in February that it would introduce Ethereum Liquid Staking Derivative (LSD).Īs it aids in risk reduction and diversification, this kind of investment has been increasing in popularity.Įven when other assets are on a downward trend, this announcement has kept the token rising and created enough interest around it.įurthermore, as more stakeholders use the protocol, this might also increase Yearn Finance’s Total Value Locked (TVL). The announcement made by Yearn Finance last week is among the more plausible explanations for the sustained rise of YFI. Source: Santiment A possible reason for the pump The same would translate to a 40%+ hike for the asset.Īlso Read: ‘Fireworks’ Time: Solana Gearing for a 40% Rally As analyzed in an article yesterday, if the bullish momentum persists, a rise up to $37–$38 is possible. According to CryptoCompare, the total value locked in the Solana ecosystem grew 48.9% in January to $560 million, making it “the fastest growth in TVL compared to most other major Layer-1 blockchains.” The report labeled the rally as a “welcomed move” for the Solana ecosystem.įrom the technical perspective, there is also enough upside space for Solana to rally. Hence, if Solana continues to command and Dogecoin remains submissive, a flip may materialize going forward.Īlso Read: Elon Musk Announces Dogecoin’s Shiba Inu Dog as the New CEO of TwitterĪs far as the fundamentals are concerned, Solana seems to be in a comfortable position. The steep inclination of its curve over the past few days justifies the same. Dogecoin’s net worth, on the other hand, currently stands at $11.68 billion.Īs shown below, SOL has been able to add to its market cap at a much faster pace relative to its counterpart, Dogecoin. According to Satiment’s data, Solana’s market cap has surpassed $9.8 billion. Dogecoin, the cryptocurrency right next to it on the rankings chart, has risen by only 11% in the same timeframe.Īlso Read: Beyond Dogecoin: Twitter ‘Killer’ to Soon Launch Bitcoin Tipping Time for a Solana x Dogecoin flippening?Īs a result, the market cap gap between the two has been declining. However, Solana continues to make bullish strides. Most asset prices consolidated in February. ![]() “SOL was one of the best-performing assets in January, returning 140% as it closed the month at $23.9.” ![]() A recent report from CryptoCompare revealed, Since then, it has been recovering at a swift pace. However, by the end of 2022, it had dropped to a low of $8. In November 2022, it was trading at around $39. The token was one of the most severely impacted by the FTX collapse. However, Solana’s uptick has been more rapid in comparison. Most assets on the cryptocurrency market have been rallying since the beginning of 2023. ![]()
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