Bitcoin runs crypto markets, but DeFi tokens don’t follow its lead
DeFi tokens have been around for a few months now — long enough to plot some recurring trends that show some clear patterns. Decentralized exchanges have been around for a while now, but it’s only been since the grip of decentralized finance mania has taken hold that they’ve come into their own. The growth in DEX use has been nothing short of exponential, with volumes pretty much doubling in August and September compared with the preceding months.But is volume alone telling the whole story? Amid the DeFi frenzy, some of the biggest winners have been DeFi governance tokens. Kicking off with....
Related News
The top smart contract platform tokens by market capitalization and the total value locked (TVL) in decentralized finance (defi) have swelled significantly in value during the last few days. Since the value locked in defi reached a 2022 low of $70 billion on June 19, the defi ecosystem’s entire TVL has grown by more than $17 billion. Meanwhile, the two smart contract tokens ethereum and ethereum classic saw their fiat values rise during the last seven days, as the two coins led the pack this week with double-digit gains.
Defi and Smart Contract Crypto Assets Rise Higher in....
The decentralized finance (DeFi) space has not been left out of the relief rally that has been rocking the crypto market. While other top coins are doing well, the DeFi tokens seem to have taken this one step further as they make a splash across the charts. With Ethereum leading the charge, these DeFi tokens […]
While Bitcoin’s value has increased by more than one-third since September, DeFi tokens have floundered. Are the two things related? The co-founder of crypto data aggregator Markets Science, Twitter-user ‘Bitdealer,’ has shared a chart indicating negative correlations between 11 top DeFi tokens and BTC over the past 45 days to Nov.1, with AAVE showing neutral correlation and UNI showing confluence if less than 0.1.Seven of 13 DeFi tokens were also found to have negative correlations with Ethereum (ETH), despite Ethereum powering much of the DeFi ecosystem.With many decentralized finance....
The total value locked in decentralized finance (defi) has managed to jump above the $200 billion zone, as crypto markets have rebounded from the market downturn last week. A number of native assets from the $611 billion worth of smart contract protocols have seen double-digit gains with cypherium (CPH), counterparty (XCP), and terra (LUNA) leading the pack.
TVL in Defi Jumps Back Above $200 Billion — Cypherium, Counterparty, Terra Rise
Crypto markets have recovered after initially dropping after Russia invaded Ukraine three days ago and the rebound has pushed defi value....
The crypto market has been on a recovery trend lately. Even with the market crash, it had already marked a year of massive returns for investors in the space. As is expected with a space with high volatility, crypto assets had begun to crumble in value. But despite the profitable year for cryptocurrencies, a subset of crypto tokens had made their mark as the assets with the highest returns, and they don’t look to be stopping anytime soon. Gold-Backed Tokens Surge These gold-backed assets have helped to increase the liquidity of gold by enabling the ownership of small fractions of gold.....