Cryptocurrencies BTC, ETH, XRP. Forecast for today
The Bitcoin (BTC) price rose to the $59000 resistance level. Ethereum (ETH) strengthened to the $2100 mark, and the price of Ripple (XRP) soared to 0.823 USD. The total capitalization of the digital currency market was $1.97 trillion.
On Monday, for a short time, the total market value of digital assets updated the historical high at around 2 trillion. More than half of the volume of digital assets was Bitcoin, the capitalization of which exceeded a trillion Dollars. Behind it are Ethereum, Binance Coin, Polkadot and Cardano. The main driver of the market growth was Ethereum, which at the weekend updated the maximum at the level above 2140 Dollars. The BNB token from Binance rose by 39.7% to the level of $ 375 during the week. In general, in 2020, cryptocurrencies from the top 30 grew by an average of 308%, according to a report by the analytical company CoinGecko.
The supply of crypto assets for lending in the DeFi Compound protocol has risen above $15 billion. At the same time, the volume of assets involved in operations reached 9.24 billion against the background of the ongoing DeFi boom. The Compound decentralized lending protocol has reached a new record amid another cryptocurrency market rally. Compound dominates the market of decentralized finance, with the protocol blocking approximately 19% of the total value of crypto assets from all applications on ethereum. Last December, the developers of Compound announced that they would launch a new protocol for blockchain interaction, and in March, they introduced a new Gateway blockchain that will allow launching inter-network lending and improving the interaction of DeFi platforms. Gateway is currently running on an ethereum test network called Ropsten. Audits will be conducted before the main network is launched. The exact launch date of the project is still unknown.
In the forecast, I expect the Bitcoin price to rise to the level of 60000 Dollars. Ethereum will reach $2170, while XRP will adjust to the price value of 0.80 USD.