Throughout the week, digital assets fluctuated at high levels. On Friday, the Bitcoin Bubble Index (BBI Index) reported 76.91 points, down 0.35% in the last 24 hours; USDT OTC Index (USDT OTC Index) reported 99.28 points. BTC price moved slightly upwards, but faced resistance. ETH perform relatively weaker compared to the week before, and fell significantly after rising. The trend for large-scale adoption of Bitcoin continues to increase. Aside from the new monthly reports on crypto now launched by Bloomberg, other financial data services are also providing crypto information on their portals. At the time of publication, the BTC 24h turnover was $23 billion, the number of active addresses increased by 21.97% from the previous day, and the number of transfers increased by 5.8% from the previous day. The number of BTC active addresses hit a new high in nearly two years.
In other news, the total lock-up volume of DeFi projects reached US$4.82 billion. Among them, Maker, Compound, Synthetix, Aave, and InstaDapp ranked the top five, accounting for nearly 75%. DeFi provides a new way of conducting financial transactions and may herald a new era in the development of the cryptocurrency industry. Eventually, as more central banks create programmable digital currencies, we will see DeFi theories applying to the traditional financial markets.
U.S. regulation began to allow U.S. banks to provide custody of digital currencies, a win for the crypto markets. Compared to the SEC, the OCC (Office of the Comptroller of the Currency) who oversees the banking sectors, seems to hold a more positive attitude and encourages the development of digital assets. This is very conducive to the application of digital assets, including the infrastructure build up for the whole industry.
