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Band, Loopring (LRC) and Cream secure a slice of DeFi with new partnerships

Published 02/02/2021, 05:30 PM
Updated 02/02/2021, 07:00 PM
Band, Loopring (LRC) and Cream secure a slice of DeFi with new partnerships

The U.S. dollar lost about 7% of its value in 2020, while Bitcoin rallied about 300% during the same period. As Bitcoin’s institutional adoption increases, United States companies may start to diversify their treasury with other stores of value, and Bitcoin (BTC) stands a good chance to garner a portion of it.

Crypto market data daily view. Source: Coin360

Ark Invest’s latest report, "Bitcoin: Preparing for Institutions," shows that even a paltry allocation of 1% by companies from the S&P 500 could boost Bitcoin’s price by $40,000. However, analysts at Ar believe that the allocation is likely to be in the range of 2.5% to 6.5%, which "could impact bitcoin’s price by $200,000 to $500,000."

BAND/USDT daily chart. Source: TradingView
LRC/USDT daily chart. Source: TradingView
CREAM/USDT daily chart. Source: TradingView

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