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DeFi sector growth pushes Reserve Rights, 0x and Kyber Network higher

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Cointelegraph By Rakesh Upadhyay

Bitcoin (BTC) has bounced back above the $32,000 level today, but Guggenheim chief investment officer Scott Minerd believes that the current institutional demand is not sufficient to keep the price above $30,000 for long. Despite this view, Minerd continues to believe that the current downturn does not alter the long-term bullish story of Bitcoin.

Crypto market data daily view. Source: Coin360

While several institutional investors are turning positive on Bitcoin as a store of value, BlackRock CEO Larry Fink does not seem impressed. Fink pointed out the volatility and called Bitcoin “a very small market” that is affected by small-dollar investments. Although Fink said that “some form of a digitized currency is going to play a bigger role in the future,” he was unsure if it would be Bitcoin.

A cryptocurrency that has a strong use case and can keep up with the ever-growing demands of crypto users may have good future prospects. The tokens selected today are strong contenders that fill each of these criteria.