It’s a “green” weekend for the crypto market today as most major digital assets are seeing daily gains.
Over the past couple of days, a lot of eyes have been glued to Ethereum’s (ETH) price movements since the blockchain underwent a massive network upgrade called London on Thursday. Among other improvements, it also introduced a deflationary token burn mechanism, and many expected the price of ETH to go up—and it did.
Hello, London! 🎉 Congrats, Ethereum! 🥳
— Laura Shin (@laurashin) August 5, 2021
At the time of writing, ETH was trading at around $3161, up 9.7% in the last 24 hours, according to crypto metrics platform CoinGecko.
Interestingly, more than 10,000 ETH have already been burned since the London upgrade—worth over $31,000 million at current prices.
Mostly green weekend
Meanwhile, Bitcoin reached a 24-hour high of about $44,700, up 4% on the day.
Among the top-10 crypto by market capitalization, however, only Dogecoin managed to post two-digit growth. The price of canine-themed meme coins gained 34.2% on the day and reached $0.276 at press time.
Other top cryptos showed somewhat humbler results in the last 24 hours. Binance Coin (roughly $356, +4%), Cardano ($1.48, +5.2%), Ripple’s XRP ($0.833, +11.6%), and Uniswap ($28.49 +8.2%) remained in the green zone.
DeFi keeps up too
Decentralized finance (DeFi) also followed the upward trend as the sector grew by 6.75% as a whole in the last 24 hours.
Apart from Uniswap, other popular tokens such as Chainlink ($24.69, +3.5%), AAVE ($386.84, +5.2%), Maker ($3,413, +4.9%), and Compound ($507.83, +8.7%) were leading the charge in terms of daily gains, according to CMB’s DeFi sector data.