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JUL 27, 2021 • 4 Min Read
After retracing a decent chunk of its rally last night, BTC has been pushing back up to the $38,000 mark. ETH is closely following BTC, as are other crypto assets. Overall, sentiment is recovering as the Fear & Greed index begins to rise out of a state of abject fear.
The resurgence of positive sentiment in the market is the single most important reason for yesterday’s volumes; the Crypto Fear & Greed Index broke above 30 for the first time in six weeks, though it is yet to break out of the “Fear” range it’s been stuck in for nearly three months. As crypto prices rose across the board in the last few days, the speculative mania that fueled DeFi’s growth could make a comeback. However, it’s important to note that the overall market structure still hasn’t recovered. So err on the aside of caution and don’t get (potentially) bull-trapped by the sudden positive sentiment in the market.
Goldman Sachs launches a blockchain company index.
.@GoldmanSachs has filed for a DeFi and blockchain exchange-traded fund, according to a public filing.@Nate_DiCamillo reportshttps://t.co/xGlKBBQxBw
— CoinDesk (@CoinDesk) July 26, 2021
Illuvium announces AXS pools (stake AXS, earn ILV).
Get ready, all AXS holders. We’re opening up the Axie Flash Pool on Weds July 28th, at 7am AEST. You can stake now, but rewards don’t start until the pool opens.
To get started, go to https://t.co/iXq8uR8CmH
We hope that the Axie Pool will be exciting and beneficial for you!
— Illuvium (@illuviumio) July 27, 2021
Well outlined criticism of DeFi’s most popular growth metric, “total value locked,” from the CoinMetrics team.
“total” “value” “locked” – every word in TVL is questionable. how rehypothecation can lead to its overstatement https://t.co/eDcNbvD1Qv pic.twitter.com/8HonTPmBop
— nic carter (@nic__carter) July 27, 2021
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