Contents hide5. Leading DeFi projects launch $100M global adoption initiative
Institutions remain bullish on Cardano and Ether while BTC outflows persist
Ethereum(ETH) and Cardano(ADA) continue to dominate inflows to institutional crypto investment products while demand for BTC weakens. Institutional inflows to altcoin investment products have continued to increase this past week, but the same cannot be said for Bitcoin. Ether was the favored asset among institutional investors, with ETH-based products posting a weekly inflow of $17.2 million.
BTC Bulls Show Utmost Resilience Above $46,000 While Eyeing Liftoff To $50,000
Bitcoin(BTC) has remained lethargic in its trading since last week. The rejection from $50,548 left investors dejected because their expectation was for BTC to climb past $55,000 and close August near $60,000. Meanwhile, Bitcoin is teetering marginally above $46,000. The homestretch to $50,000 seems near yet challenging to achieve, especially with multiple short-term sell signals.
Solana price hits $100 for the first time after mysterious ‘Ignition’ event revealed
Solana prices rose on Monday as traders speculated on what appeared to be a key but mysterious feature launch scheduled for later this week. The SOL/USD exchange rate climbed to a new record high of $103.06 following a 9.35% intraday rally. The upside move surfaced days after Solana introduced “Ignition” on its official media handles. Solana’s price hits $100 for the first time after a mysterious ‘ignition’ event is revealed.
Fantom price gains 100% after launching a 370M FTM incentive program
FTM gained 500% in the past six weeks, and a newly launched $320 million incentive program could see the rally extend further. One project that has been gaining traction in August is Fantom (FTM), a layer one smart contract platform that utilizes a directed acyclic graph architecture as a means to solving the problems of slow transaction speeds and high transaction fees.
Leading DeFi projects launch $100M global adoption initiative
The DeFi applications involved in the project — Aave, SushiSwap, Curve, 0x, and PoolTogether, among others — will together provide up to $100 million in educational initiatives, grants, and incentives in an effort to educate individuals globally about decentralized finance.