The DeFi boom is driving Universal Market Access (UMA), SwissBorg and Siacoin (SC) soaring


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The total market cap of cryptocurrencies rose to $ 1.139 trillion on February 4, just below silver’s total market cap of $ 1.5 trillion.

While crypto market cap is still well below gold, Bloomberg senior commodities strategist Mike McGlone said in a report that Bitcoin (BTC) has found strong support at $ 30,000 and could now climb to $ 50,000 and higher.

Day view of crypto market data. Source: Coin360

However, some institutional investors who have invested at lower levels and are sitting on huge profits are taking some money off the table.

UK-based Ruffer Investment Management said it initially invested around $ 600 million in November 2020, which more than doubled when Bitcoin hit an all-time high of $ 41,959.63. The company posted profits with an amount just above its cost and decided to let the remaining balance run.

As Bitcoin gradually climbs to its all-time high, altcoins have skyrocketed, suggesting that traders have shifted their funds from BTC to Ether and other smaller cap coins.

Let’s analyze three such tokens that are based on solid fundamentals.