Crypto Market Update: Bitcoin and Ether Experience Gains as Ethena Surpasses $11.9B in TVL
Finance/Markets

Crypto Market Update: Bitcoin and Ether Experience Gains as Ethena Surpasses $11.9B in TVL

The global cryptocurrency market cap sees a rise as Bitcoin and Ether hold their ground while Ethena hits significant total value locked metrics, catching the attention of investors.

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Crypto Market Update: Bitcoin and Ether Experience Gains as Ethena Surpasses $11.9B in TVL

The global cryptocurrency market cap has increased by 2% to $4.03 trillion as Bitcoin and Ether continue to hold their gains. Here are the highlights:

  • Bitcoin (BTC) has climbed 2.3% to reach $119,547.48, while Ether (ETH) increased by 0.7%, trading at $4,293.
  • Futures open interest in significant tokens has decreased, indicating a capital outflow which may relate to price losses resulting from the unwinding of long positions.
  • The Ethena protocol exceeded $11.9 billion in total value locked (TVL), attracting strong interest towards non-staking DeFi models.

Bitcoin and ether held gains while Ethena hit $11.9 billion in total value locked. (Shutterstock)

The rise in key cryptocurrencies coincided with an uptick in risk sentiment, observed after a relatively uneventful macroeconomic period that supported the price action.

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