DeFi “Blue-Chips” Lead Sector Rebound as Smaller Tokens Underperform
The DeFi sector has been on the up and up throughout the past few weeks, with the post-Summer downtrend first reversing earlier in early-November when Yearn.finance’s YFI token bottomed out at $7,500 and saw a massive overnight surge up towards $18,000. From this point forward, the cryptocurrency has been climbing higher every week, showing signs […]
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Earlier this week, the decentralized finance (DeFi) market was in a state of capitulation. Top coins pertaining to this space were plunging by dozens of percent over the span of a day or two, including “blue chip” names like Yearn.finance’s YFI, Synthetix Network Token (SNX), and many others. From their highs set in the summer […]
The crypto industry was shocked to hear that the U.S. Commodities and Futures Commission (CFTC) formally charged the three co-founders of BitMEX today. This sent shockwaves throughout the entire market, while also particularly impacting the tokens within the DeFi sector. Many smaller tokens saw massive 10%+ drops on the news, which came about as investors […]
DeFi tokens like Chainlink and Yearn.Finance dominated the crypto market all throughout the summer months. But a recent shift in sentiment has prompted investors to derisk and these same coins have been crashing deeply. And while there’s no certainty that a reversal is near, a buy setup has triggered on these two once top-performing tokens that could at least provide a dead cat bounce it the short term. Chainlink Readies Rebound Following 50% Fall From […]
Falling Ethereum gas fees, the launch of Convex Finance and the DeFi sector reaching a potential bottom back CRV’s impressive 150% rally since May 23. DeFi tokens and protocols took a heavy hit on May 19 as Bitcoin price dropped to $30,000 and while BTC has entered what some analysts describe as a 'compression' phase, the total value locked in DeFi and the value many of the sector's tokens have yet to rebound to the levels seen before the market crash. Curve DAO token (CRV) stands among the few DeFi tokens that have seen a strong recovery over the past two weeks due to reduced Ethereum gas....
A rally in blue-chip DeFi tokens and the sector’s rising total value locked has traders hopeful that a prolonged rally will take place. Decentralized finance (DeFi) was one of the main factors that pushed the crypto market higher throughout 2021 and to date, platforms like Uniswap (UNI), SushiSwap (SUSHI) and Aave (AAVE) form the bedrock of the sector.Similar to altcoins, DeFi tokens took a severe beating as Bitcoin price corrected from its $65,800 all-time high, and data from Cointelegraph Markets Pro and TradingView shows that since DeFi index perpetual futures contract hit a low of....