DeFi boom pushes Universal Market Access (UMA), SwissBorg and Siacoin (SC) higher

The entire market capitalization of cryptocurrencies surged to $1.139 trillion on Feb. 4, simply in need of silver’s whole market cap at $1.5 trillion.

Whereas the crypto market cap remains to be manner beneath that of gold, Bloomberg senior commodity strategist Mike McGlone mentioned in a report that Bitcoin (BTC) has discovered sturdy support at $30,000 and it might now rally to $50,000 and better.

Crypto market knowledge day by day view. Supply: Coin360

Nonetheless, some institutional traders who had invested at decrease ranges and are sitting on big income are taking some cash off the desk.

United Kingdom-based Ruffer Funding Administration mentioned it had initially invested about $600 million in November 2020, which had greater than doubled when Bitcoin hit an all-time excessive at $41,959.63. The agency booked income on an quantity simply greater than their price and determined to let the remaining steadiness journey.

Whereas Bitcoin steadily climbs in direction of the all-time excessive, altcoins have been hovering, suggesting that merchants have shifted their funds from BTC into Ether and different smaller-cap cash.

Let’s analyze three such tokens which might be backed by sturdy fundamentals.