simply put

simply put

1. Bitcoin, Ethereum and other projects have all shut down in the past 24 hours.

2. However, DeFi projects continue to see strong growth.

3. The stock market is in the red due to rumors that the Fed will reduce quantitative easing.

While the top 20 cryptocurrency projects by global market capitalization continue to fall, DeFi projects are bucking the trend.

Bitcoin, Ethereum, Tether, Polkadot, Ripple, Cardano, almost all projects suffered critical blows. The biggest moves came from Polkadot, down 5.5%, Bitcoin Cash down 4.5%, and ChainLink down 3.6%.

However, for DeFi projects, the situation is quite different. Uniswap did not stop growing during the week, increasing by 10.1% in the past 24 hours, and the project ranked 14th overall.

AAVE has also fallen quite a bit recently, rising 5.3% in the last day, making it 16th overall; decentralized payment network Synthetix rose 9.5%, successfully breaking into the top 20 cryptocurrency projects.

As we reported earlier, the excellent performance of DeFi projects has pushed the value of Ethereum to an all-time high. But while that’s not the case today, the projects are still having a positive impact, with Ethereum down just 0.8%, according to data firm Nomics. Another positive for the price of Ethereum is the continued boom in NFTs.

Raoul Pal, CEO of Real Vision Group, said that with the arrival of altcoin season, ETH will lead the encryption industry in the near future. He said: "Ethereum was leading for a while, alt season followed, Bitcoin still exploded. Everyone wins. Enjoy and accept FUD with an open mind, but remember that at exponential In a bull market, everyone wants to get you out of the trade. It’s really not easy.”

Yesterday, Dapper Labs' NBA Top Shot collectible reached #1 sales for the first time. The company that makes CryptoKitties has more than $32 million in sales, more than CryptoKitties.

Ranked No. 1 in NBA Top Shots.

So far, the NFT collectibles market has sold nearly $100 million worth of collectibles, and the top 5 collectibles have all seen growth rates of 50% or more in the past 7 days. For investors waiting for the next bitcoin bull run, collectors of digital art are enjoying the sunshine.

Market fears the Fed will withdraw its quantitative easing policy

The Dow Jones Industrial Average, S&P 500 and Nasdaq all closed in the red yesterday on fears that the Federal Reserve may decide to roll back its aggressive asset purchase program.

Investors are paying close attention to the Federal Reserve’s statement this week, as a reduction in federal support could have a knock-on effect that could send markets tumbling as the fallout from COVID lingers.