The crypto market is gaining momentum, with Bitcoin once again smashing past the milestone of $50K as Ethereum rapidly approaches all-time highs above $4K. Gains in both cryptoassets are being driven by ongoing adoption. This includes leaked images showing that Twitter is testing a crypto tipping service, and hints from Securities and Exchange Commission (SEC) chair Gary Gensler that a long-awaited Bitcoin ETF could finally be on the cards. Meanwhile, in the altcoin universe, Chainlink and Litecoin are both celebrating 30% wins, and Uniswap has added 10% despite news that the SEC is investigating the startup behind the decentralized exchange. This Week’s Highlights DeFi tokens surge on record value locked Deflationary trend drives Ethereum towards all-time highs DeFi tokens surge on record value locked While NFTs have captured the crypto market’s attention with the trading of avatars and artwork, the nascent DeFi sector has been quietly breaking records. Total locked value in the ecosystem reached an all-time high of almost $100 billion last week, which is reflected in the stellar performance of DeFi tokens: Chainlink is up over 30%, and Yearn.finance, Aave, and Compound are all enjoying double-digit weekly gains. The rally comes in defiance of stirrings from the SEC, as a new investigation into Uniswap Labs suggests that discussions on DeFi regulation could be starting to translate into enforcement action. Deflationary ...
