Bitcoin Is Money says France, as Industry Cheers Bullish Week for Crypto. DeFi may be leading the Ethereum counter trend this morning.

Decentralized Finance (DeFi), the big one for the ecosystem is back over $1 billion in value, locked up in DeFi platforms. Ethereum is also highly correlated to Bitcoin, so Bitcoin’s price decline from $10,500 to $8200 over the last three weeks has also impacted Ethereum prices. The second largest crypto had a 25% drawdown in price mirroring Bitcoin’s slump. Bitcoin BTC miners have set a fresh all-time high in terms of computing power they are willing to dedicate to validating transactions.

References:

Bitcoin hashrate crosses 150 quintillion
https://cointelegraph.com/news/bitcoin-hash-rate-passes-record-150-quintillion-as-price-reclaims-9k
https://cointelegraph.com/news/hash-rate-and-bitcoin-price-during-mining-events-are-they-related
Why did bitcoin go below $9000
https://cryptopotato.com/the-reason-why-bitcoin-price-crashed-500-plustoken-scam-moved-another-13000-bitcoins-worth-118-million/
Why is Ethereum outperforming the market

Ethereum is Outperforming the Market Today, Here’s Why


https://www.forbes.com/sites/justinoconnell/2020/03/05/venture-capitals-view-of-defi/#34dcc93132a0
After India and South Korea, France Legalizes Cryptocurrency
https://beincrypto.com/france-says-bitcoin-is-money-as-industry-cheers-bullish-week-for-crypto/———
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