DeFi Tokens Lead Crypto Market Higher and Bitcoin Nears $44K
  The latest moves in crypto markets, in context By the CoinDesk Markets Team Edited by Bradley Keoun, Managing Editor September 27, 2021 Sponsored by  (Price data as of September 27 @ 11:20 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
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Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
Gainers: Losers:
The CoinDesk 20 are 20 digital assets filtered from the larger universe of thousands of cryptocurrencies and constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
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Market Moves by Omkar Godbole DeFi Tokens PERP, DYDX Lead Crypto Market Higher, Bitcoin Nears $44K Native tokens of leading decentralized trading platforms are surging as the biggest centralized exchanges Binance and Huobi cut back on China to comply with local regulations.
DeFi coins have picked up a bid in the wake of China's blanket ban on virtual currency related businesses announced Friday and Huobi and Binance's decision to stop serving mainland Chinese investors. The crypto market is perhaps pricing an impending shift in trading volumes to the supposedly censorship-resistant DeFi rails from centralized exchanges.
Messari data shows PERP token has gained 55% in the past 24 hours to trade at $17. PERP is the utility token facilitating and incentivizing the decentralized governance of the Perpetual Protocol.
Launched in 2018 as "Strike" and later relaunched with a new name and the mainnet in December 2020, Perpetual Protocol is a decentralized exchange (DEX) designed for leverage trading, short positions, and low levels of slippage. It uses a virtual automated market maker (vAMM) and collateralization vault to settle trades and enable trading in perpetual contracts, which are futures without expiry.
Coins associated with other decentralized exchanges like Uniswap, SushiSwap, dYdX and Curve have risen between 22% to 35% in the past 24 hours, outperforming crypto leaders bitcoin and ether by a significant margin.
Technician's Take by Damanick Dantes, CMT  Bitcoin Trending Lower on China Crackdown; Support at $36K-$40K Bitcoin (BTC) buyers defended the $40,000-$42,000 support range over the weekend as selling pressure slows. The cryptocurrency was trading around $43,800 at press time and is up about 1.8% over the past 24 hours. The next level of resistance is around $46,000-$48,000, which could limit further upside over the short-term.  Bitcoin's four-hour price chart shows the cryptocurrency trading below its 100-period moving average. (TradingView, CoinDesk)
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Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments.
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