According to the data sourced from Dune, Blend has more than 10K Ethereum in total volume. It must be noted that, Blend recently took its entry in the NFT lending market that facilitates users to take out Ethereum loans by putting their NFTs up as collateral. The user can use this loan to buy new NFTs on the Blur marketplace.
Earlier this month, Blur shared in its tweet that Blend enables 10x higher yield opportunities as 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 its users to trade ETH tokens.
Ethereum Price Analysis
At press time, 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 low at $1774.20 while its high was at $1826.90. ETH surged more than 50% in its year-to-date (YTD) price analysis.
The above price chart shows the recent price performance of Ethereum. At present, its price is showing a bullish trend as the bulls showing their dominance in the market. However, ETH price surpassed its 100-day EMA while active bulls are trying to continue their bullish trend. The volatile nature of cryptocurrencies would take them in any direction. The active bulls are currently holding their upward trend while yesterday, the dominance of bears was seen.
The RSI also took an upside ride and showed a bullish trend. Meanwhile, the first most-traded cryptocurrency by market cap, Bictoin (BTC), also had similar performance in recent hours. The price of BTC is currently trading at $26,948.48, noted low at $26,415.10 and high at $27,466.53 in the past 24-hours.
Bitcoin’s dominance is currently 46.31%, noted 0.25% of decrease over the day. Moreover, the global crypto market cap is $1.13 Trillion, noted nearly 1.16% of drop over the last day. The total crypto market volume over the last 24 hours is $30.44 Billion, which makes a 2.93% decrease.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/05/21/an-nft-lending-platform-noted-10k-in-total-volume-of-ethereum/