Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
First Mover Asia: Bitcoin Has Its Eyes on $30K Amid Steadfast Institutional Interest

First Mover Asia: Bitcoin Has Its Eyes on $30K Amid Steadfast Institutional Interest

CoindeskCoindesk2023/06/21 15:46
By:Sam Reynolds

ALSO: Smart contracts crypto lending platform Aave has continued its year-to-date momentum this month. The version 3 (v3) blockchain’s total value locked (TVL) has surged 15% in June to $1.76 billion, data from blockchain analytics firm DefiLlama shows.

Good morning. Here’s what’s happening:

Prices: Crypto majors are beginning the trading day in the green as a short squeeze pushes up the price of bitcoin.

Insights: Total value locked in smart contracts lending platform Aave's v3 has risen 15% in June, continuing its 2023 momentum.

Crypto Rises as Asia Opens

Bitcoin and ether are beginning the Asia trading day significantly in the green, with the world’s largest digital asset up 5.8% to $28,359, while ether is up 3.4% to $1,793.

The is up 4.1% to 1,166.

"Bitcoin's move above USD $28,000 also comes with the coin's share in the aggregate crypto market cap topping 50% for the first time in two years. Unlike most other digital assets, bitcoin has not been implicated in any of the regulatory complexity, we've seen coming out of the U.S.,” Strahinja Savic, head of data and analytics at Toronto-based crypto platform FRNT Financial told CoinDesk in a note.

Savic says that BlackRock's bitcoin ETF filing has really underscored that in bitcoin remains steadfast, despite the sell-off and bankruptcies we've seen earlier this year and in late 2022.

Joe DiPasquale, CEO of crypto fund manager BitBull Capital, points to the bitcoin ETF filings as well as the launch of a new , as a bull case for crypto.

“It wouldn’t be surprising if Bitcoin continues to lead the market for now,” he said. “On the top side, $30k is the obvious resistance."

Aave's v3 TVL Rises in June

Smart contracts crypto lending platform Aave has continued its year-to-date momentum in June.

The version 3 (v3) blockchain’s total value locked (TVL) has surged 15% since the start of the month to $1.76 billion, data from blockchain analytics firm shows. Aave’s TVL has skyrocketed 300% since Jan. 1, widely outpacing other major cryptos over this period. Bitcoin and ether, the two largest digital assets by market capitalization, have risen about 70% and 50%, respectively, in 2023.

Aave’s gains offer the latest evidence of rising interest in DeFi protocols that eliminate the need for third-party institutions to help execute transactions. A banking crisis that led to the collapse of three major regional banks in March has meanwhile undermined confidence in traditional, financial services organizations that have been central to lending markets.

At presstime, Aave users have supplied $1.83 billion worth of assets and borrowed $641 million on Aave’s version three (v3), per on-chain markets terminal , highlighting the level of financial activity occurring within the protocol.

CoinDesk - Unknown

The five largest borrowers accounted for more than $227.2 million in assets loaned and roughly $181.4 million in loans, about 28% of total loans on Aave v3. Ether, stablecoins, wrapped bitcoin and liquid staking tokens compose the majority of crypto assets transacted on Aave, reflecting their popularity in the DeFi ecosystem.

2:00 p.m. HKT/SGT(6:00 UTC)

8:30 p.m. HKT/SGT(12:30 UTC)

6:45 a.m. HKT/SGT(22:45 UTC)

In case you missed it, here is the most recent episode of on :

Bitcoin (BTC) traded little changed on Tuesday as China's first cut in benchmark lending rates in 10 months failed to lift the mood in traditional markets. Bannockburn Global Forex managing director and Chief Market Strategist Marc Chandler joined to discuss his crypto markets analysis. Plus, Ron Hammond from the Blockchain Association joined "First Mover" to discuss why the trade group had filed a Freedom of Information Act request with the SEC seeking records relevant to Prometheum, a crypto broker. And, Alchemy developer experience lead Elan Halpern shared how the blockchain developer platform aims to help Web3 developers access data faster and speed up product development.

: The price surge liquidated some $36.6 million of short positions in the past 24 hours, the most this month, CoinGlass data shows.

: In a pre-proposal discussion post, Polygon co-founder Mihailo Bjelic argues why the mainchain should go through a major upgrade.

: The banking giant announced plans to become a crypto custodian in February 2021.

: Investors turned optimistic about Grayscale allowing redemptions in the future after BlackRock’s filing for spot bitcoin ETF last week, one analyst said.

: About 2% of global money supply, via stablecoins and CBDCs, could be tokenized over the next five years, which is about $3 trillion, the report said.

Edited by James Rubin.

42

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Victim Compensation Does Not Excuse Criminal Acts, Judges Inform SBF

- Sam Bankman-Fried’s legal team faces uphill battle as appeals judges question claims of unfair trial and lack of fraud intent. - Judges dismiss defense arguments, noting SBF admitted not relying on legal advice during FTX fund transfers. - Court rejects post-trial repayment claims, emphasizing criminal liability persists despite 90% customer fund recovery. - Case sets precedent for crypto accountability, with appeals unlikely to succeed without procedural errors.

Bitget-RWA2025/11/04 20:54
Victim Compensation Does Not Excuse Criminal Acts, Judges Inform SBF

Sequoia's Change in Leadership: Will Advancements in AI Help Restore Broken Trust?

- Sequoia Capital's Roelof Botha steps down amid reputational crises, ceding leadership to Alfred Lin and Pat Grady during strategic recalibration. - The transition follows Islamophobic controversy, COO's exit, and a $200M FTX loss, prompting cultural and financial restructuring efforts. - New leaders prioritize trust restoration via a $950M AI fund targeting disruptive startups, signaling a return to U.S.-centric operations and ethical accountability. - The shift reflects industry-wide adaptation to geopo

Bitget-RWA2025/11/04 20:54
Sequoia's Change in Leadership: Will Advancements in AI Help Restore Broken Trust?

Solana News Update: Mutuum Finance's DeFi Strategy: Balancing Stability Against Shiba Inu's Fluctuations

- Mutuum Finance (MUTM) raises $18.27M in presale with 80% completion, targeting $0.06 launch price for 400% potential gains. - Project combines Solana's utility-driven growth with SHIB's viral appeal via dual-lending model and automated risk management protocols. - CertiK audit (90/100) and $50K bug bounty address DeFi security risks, while buy-and-distribute mechanism boosts token value retention. - Whale investments and structured tokenomics (45.5% presale allocation) signal institutional confidence ahe

Bitget-RWA2025/11/04 20:38
Solana News Update: Mutuum Finance's DeFi Strategy: Balancing Stability Against Shiba Inu's Fluctuations

Bitcoin News Update: Retail Investors Panic While Institutions Accumulate as Bitcoin Challenges $106K Support Level

- Bitcoin fell below $100,000 on October 30, 2025, its first drop in six months amid heightened volatility. - ETF outflows ($488M) and institutional buying (397 BTC at $114,771) highlight retail caution vs. institutional confidence. - Analysts warn of 65%-70% drawdown risks over two years, citing weak investor understanding and panic selling cycles. - Regulatory shifts (e.g., Wyoming stablecoin plans) offer partial support but fail to offset year-to-date price swings ($67k-$124k). - Market uncertainty pers

Bitget-RWA2025/11/04 20:38
Bitcoin News Update: Retail Investors Panic While Institutions Accumulate as Bitcoin Challenges $106K Support Level