DeFi indexes crash despite strong fundamentals
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....
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Ethereum has undergone a strong surge in the past 24 hours as buyers have stepped back into the crypto market. In the past day alone, ETH has gained 5%, as it currently trades at $368. For context, Bitcoin is only up around 1.5%. The buying was seemingly triggered by the ending of a seeming capitulation […]
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