Bitcoin’s been doing pretty well lately, staying comfortably above that important $110,000 level even though September isn’t usually the best month for cryptocurrencies.
The top crypto gained around half a percent and is now sitting at about $112,259. Not too shabby considering Bitcoin already hit its all-time record of over $124,000 just last month in August.
What’s really catching people’s attention is how well the other coins are performing. Ethereum went up a tiny bit to roughly $4,305, but some of the smaller cryptocurrencies really had their moment to shine. Dogecoin especially had a great run, climbing almost 7% higher.
Here’s something that’s getting everyone excited – decentralized finance is absolutely booming right now. The amount of money in DeFi lending has shot up by 72% this year alone, and we’re talking about more than $127 billion total.
Big financial companies seem to be getting more comfortable with stablecoins and these new tokenized assets. It’s like they’re finally realizing there might be some real opportunities in blockchain stuff after all.
One thing experts keep mentioning is how Bitcoin investors aren’t selling their coins. About 14.3 million bitcoins are basically locked away, which suggests people think prices could go even higher eventually.
Conclusion
Despite September’s typical market challenges, crypto seems to be finding its footing. With strong institutional interest and people holding onto their coins, things are looking pretty optimistic right now.
Also Read: Bitcoin Update
