20 July 2026
DeFi Swings Higher as Bitcoin Taps on $35k
Despite the uncertainty capping gains for top crypto assets, tokens in the DeFi sector are surging tremendously.
The Chinese crackdown on mining continues to drive uncertainty in the market and the ramp-up of regulatory discussion in the US. Yet equal amounts of positive news, like Michael Saylor’s Bitcoin Mining Council finding the crypto asset more sustainable than often thought, and institutional giants Soros Fund Management and Point72 entering the fray.
Comp, the governance token of Compound, jumped 40% after the launch of Compound Treasury. This new product acts as a savings account, allowing big investors to deploy stablecoins with guaranteed returns of 4%. The competing lending protocol Aave also surged by 20% after the latest announcement of delivering DeFi yields to institutions with Aave Pro. Uniswap also enjoyed 20% gains. Ethereum has also been pushed 10% higher this week, whereas Bitcoin has drifted sideways on mixed headlines.
Elon Musk tweeted that Tesla won’t accept transactions until Bitcoin uses 50% clean energy, environmental concerns have cast a shadow over the crypto market. Last week, however, Bitcoin’s valid environmental credentials were brought to light by the Bitcoin Mining Council that in the second quarter of 2021, mining entirely relied on an electricity mix that was 56% sustainable. Whether Musk will accept Bitcoin in future will be revealed on July 21, 2021, when the self-proclaimed Technoking is set to discuss Bitcoin with Twitter founder Jack Dorsey.
Explore related on CoinsCapture
Topics
Discussion
0 comments