An NFT lending platform listed 10K in total volume of Ethereum
According to the data obtained from Dune, Blend has more than 10K Ethereum in total volume. It should be noted that Blend recently made its entry into the NFT lending market which facilitates users to take out Ethereum loans by putting the NFTs as collateral. The user can use this loan to buy new NFTs on the Blur market.
Earlier this month, Blur shared in his tweet that Blend enables 10x higher return opportunities compared to current DeFi protocols. This also unlocks greater liquidity for NFTs.
Bluzelle, a Gamefi for Cosmos, mentioned in its tweet that “after its latest V9 upgrade, Bluzelle is now connected to Osmosis, the largest DEX in the Cosmos ecosystem. It noted that this is similar to UniSwap on Ethereum. It is quite clear that Uniswap enables users to trade ETH tokens.
Ethereum Price Analysis
At press time, the Ethereum price is trading at $1,810.04 with a 24-hour trading volume of $5.60 billion. Ethereum is down 0.87% in the last 24 hours, with a current market cap of $217.42 billion. In the last 24 hours, ETH noted a low of $1774.20 while a high of $1826.90. ETH rose by more than 50% in its year-to-date (YTD) price analysis.
The price chart above shows the recent price development of Ethereum. Currently, the price is showing a bullish trend as the bulls show their dominance in the market. However, ETH price surpassed its 100-day EMA as active bulls try to continue their bullish trend. The volatile nature of cryptocurrencies will take them in all directions. The active bulls are currently holding their upward trend while yesterday the dominance of bears was seen.
The RSI also took an upside turn and showed a bullish trend. Meanwhile, the first most traded cryptocurrency by market capitalization, Bictoin (BTC), has also seen a similar performance in recent hours. The price of BTC is currently trading at $26,948.48, noted a low of $26,415.10 and a high of $27,466.53 in the last 24 hours.
Bitcoin’s dominance is currently 46.31%, noted 0.25% of the decline during the day. Moreover, the global market cap of crypto is $1.13 trillion, noted almost 1.16% of the decline in the last day. The total crypto market volume in the last 24 hours is $30.44 billion, which represents a decrease of 2.93%.
Disclaimer
The views and opinions expressed by the author, or any person mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
