Binance Research: Bitcoin (BTC) Dominance, DeFi, Staking Became Trendy in July

5d4aca7c353b2400060903b0 700xauto

July was one of the most dynamic months in 2019, shows research by Binance Trading. The most noticeable trend was the ascent of Bitcoin (BTC) and its price dominance over all altcoins. At the same time, altcoins are starting to offer other ways of achieving gains, through staking, as well as various forms of decentralized finance (DeFi). Decentralized finance is a new trend based on Ethereum (ETH), as well as other coins, where various collaterals of coins, tokens, or stablecoins are locked as collateral for crypto-based loans. DeFi remains highly risky, with interest rates still unstable. Still, Maker (MKR) remains the leading crypto lending platform, maintaining its stability. Staking is having a revival, as revealed by recent listings, including the fully decentralized PoS chain, Algorand (ALGO). A shift to staking means crypto holders are finding alternative use cases to just trading, the research team commented.For BTC, the month of July…

Read the original article here

IF YOU LIKED THIS ARTICLE CLICK SHARE