Summary
TLDR: Bitcoin has been trading within a 2% range, while Ether is pushing towards $4,000. Memecoins are leading the market, and DeFi sector has surpassed $100 billion in market capitalization. Coinbase and MicroStrategy stocks are rising, and GBTC saw outflows while other bitcoin ETFs had healthy inflows. Ethereum layer-2s are becoming more cost-effective.
Key Points
1. Ether has surpassed its Wednesday high of $3,900 and is likely to break above $4,000 for the first time since late December 2021.
2. Options protocols and fractionalized NFTs are experiencing a surge, with a 23% increase in their category.
3. The DeFi sector has seen a resurgence, with its market capitalization exceeding $100 billion for the first time since May 2022, driven largely by the rise of ether (ETH) which accounts for the majority of value locked in top protocols.