Bitcoin hits $103K but DeFi is a mixed bag: Finance Redefined
The cryptocurrency market capitalization surpassed $3.27 trillion, marking an 8.6% increase. Bitcoin (BTC) peaked at $103,600, reclaiming the $100,000 mark for the first time since January, with market dominance exceeding 60%. This rise coincided with a trade deal announcement by US President Donald Trump. Ethereum's Pectra upgrade led to a 26% price increase for Ether (ETH), rising from $1,800 to over $2,300. Merged mining participation on Rootstock reached 81%, despite a decline in total value locked (TVL) by over 20%. Crypto hacks in April resulted in nearly $360 million stolen, a significant increase from March. AI decentralized applications (DApps) gained traction, reaching 16% dominance in the DApp ecosystem. Xapo Bank's CEO noted a shift towards Bitcoin-backed loans as investors seek to maintain exposure to BTC while accessing liquidity. Most cryptocurrencies ended the week positively, with Pepe (PEPE) gaining over 53%.
