DeFi Sell-Off Continues as Index Futures Retrace to June Levels

Binance Futures’ DeFi Composite Index has lost half of its value since launching, while TokenSets’ DeFi Pulse Index is down by one-third. On August 28, Binance Futures launched its DeFi Composite Index, a basket of DeFi tokens that initially comprised 27% Chainlink (LINK) and 11% Aave (LEND) alongside nine other prominent DeFi tokens that made up between 6% and 9.5% of the index each. Updated weekly, the index now tracks 19 different crypto assets.However the Binance Futures’ DeFi index has dropped more than 50% from an all-time high of $1,189 on its first day of trading, with the basket....

Could the DeFi market be a bubble as both market capitalization and indices crash? The decentralized finance market seems to be deflating after the DeFi summer craze when tokenized versions of Bitcoin and protocols, such as Uniswap and SushiSwap, outperformed the rest of the market. Earlier in October, the two main DeFi indices, Binance’s DeFi Composite Index and TokenSet’s DeFi Pulse Index Set lost more than 60% and 50% of their value, respectively. Meanwhile, total value locked in DeFi projects has been inching closer to its all-time high of $11.2 billion since late September.DeFi....

Bitcoin has maintained its superiority in the market through the bull rally. Through the summer, bitcoin remains the strongest performer in the market. But the altcoins remain hot on its heels as prices rebound from two-month lows. Despite being the strongest performer of the summer, the DeFi space beat out Bitcoin to post the strongest recovery after hitting lows in July. Related Reading | Bullish Signal That Resulted In A 250% Increase In Bitcoin Is Getting Triggered Again A look back from June shows that bitcoin has outperformed ETH, as the price of the asset is up 25%. The digital....

The DPI token’s price has crashed more than 64% in six weeks. BADGER, the governance token of Ethereum-powered Bitcoin yield protocol, BadgerDAO, will be included in Index Coop’s DeFiPulse Index (DPI) token from August.Index Coop announced the news on June 26, noting BADGER’s inclusion would be pushed back by one month due to prioritizing other upgrades.Slight Correction DeFi Pulse Index has added $BADGER to the methodology. However, it will not be included in this month's $DPI rebalance due to the necessity to add support for a wBTC pair to our rebalancing operations.$BADGER will be....

Making its way up to the higher levels of its current range, Bitcoin records a 5.6% profit in 24 hours. BTC’s price took a heavy loss, as the implementation of its legal tender status in El Salvador became a “buy the rumor, sell the news” event. At the time of writing, the first cryptocurrency by market cap trades at $46,529 with an 11.8% loss in the 7-day chart. Previous to this event, Bitcoin made a quick move to the $52,000 zone. This moved the Fear & Greed Index back to the green area, as the general sentiment in the market turned bullish. Related Reading | TA: Bitcoin Topside....