Traders anticipate 'DeFi Summer 2.0’ after TVL and token prices rise
Cointelegraph
Published Jul 27, 2021 09:48PM ET
Updated Jul 27, 2021 11:20PM ET
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 $5,340 on July 20. Since then, the value of the index has rallied by 45% to $7,682 and this has analysts watching to see if a reversal is in order.
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Written By: Cointelegraph
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