Bitcoin (BTC) has continued to challenge the status of legacy markets as the market capitalization of the digital asset surpassed the combined market cap of Visa and Mastercard ($871 billion). Bitcoin’s $1.15 trillion market capitalization has also overtaken the combined value of JPMorgan Chase, Bank of America and the Industrial and Commercial Bank of China, which are the world’s three largest banks.

As Bitcoin gains in size and sustains it, several new institutional investors are likely to jump on the crypto bandwagon. Additionally, traditional businesses are closely watching the decentralized finance space and the rising popularity of nonfungible tokens. British-American auction house Sotheby’s recently said that it will join the nonfungible tokens party by offering tokenized art by a creator named “Pak.” This move could further boost interest in the NFT space.

Crypto market data daily view. Source: Coin360

Let’s look at the fundamentals and technical setu of a few tokens in the DeFi space and NFT arena that have been doing well in the past few days.