Two factors primarily triggered the resurgence of DeFi in the last 24 hours.
Second, the DeFi market comes off a steep correction of nearly 60%.YFI, Aave, Maker benefit from Bitcoin and Ethereum resilience.
In recent weeks, after YFI reached a billion-dollar market cap, it has led the performance of many small-cap DeFi tokens.
In the last 12 hours, YFI has recovered to $24,000, rising by 10%. At the daily peak, YFI hit $26,250 across major exchanges, recording a 20% rally.
In the past 24 hours, Maker gained 30% after a surge in total value locked.
Product launches and rising DeFi demand are buoying investor confidence.
The recovery of Bitcoin and Ethereum aided the rebound of DeFi tokens, but major DeFi projects also released major updates.
"While new governance tokens and sky-high APYs stealing all the attention during the latest DeFi Summer Maker has quietly grown to almost $2 billion in value locked."
The confluence of the overall market recovery, key product launches, and crucial network upgrades aided the recovery of DeFi.
Data from Defipulse.com shows that the total value locked across all DeFi protocols is steadily recovering.
YFI, Aave, Maker surge up to 30% overnight, what's fueling the DeFi recovery?
Publicado en Oct 1, 2020
by Cryptoslate | Publicado en Coinage
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