
The markets are off to a good start, with Ether rallying above $1,900 and Bitcoin briefly trading above $28,000 - their highest levels in nearly three weeks.
Investors greeted the news that Republicans and Democrats are making strides toward a deal to increase the U.S. debt ceiling. On Sunday, House Speaker Kevin McCarthy said he and Biden had reached an agreement in principle regarding the government's borrowing limit ahead of the June 5 deadline.
s a lot more within the bill, he said.
The government will not be able to issue new debt until 2025, allowing the federal government to continue operating.
DeFi's assets represent a combined market capitalization of $48.5B after gaining more than 5% during the past three days, according to CoinGecko.
Over the last three days, the value of DeFi products grew by $1.5B, bringing the sector's total to $48B. Three-quarters of the top 100 protocols said TVL growth for the past week.
TVL rose 181% to $170M in the past week, thanks to Lybra Finance, an Ethereum-based stablecoin that provides 0% maintenance and minting fees.
According to Tokenunlocks, several major Web3 projects will release sizable tranches of tokens this week. Unlocks have historically resulted in increased selling pressure on the affected tokens.
On 31 May, 3.6% of Optimism's OP supply will be distributed, along with $100M worth of 1INCH, $67M worth of Hedera's HBAR token and $65M worth of SUI.
In the coming months, notable unlocks will also lie ahead for Blur, Aptos, and dYdX.