The Decentralized Finance (DeFi) sector has been the project of the year so far. DeFi started the year like many ICOs, for quite some time, but it wasn't really having any impact. The failure of many ICOs also took their focus away, as many weren't even able to survive for a few months in the cryptocurrency world. DeFi has survived the tough coins and is now giving them a shot at their money. It is no secret that DeFi is the ICO of 2020. The project has seen its chips offer excellent performances in the market, driving the sector's rapid growth this year.
A report provided to the clients of Delphi Digital, a leading digital asset research and consulting firm, revealed that tokens in the DeFi space have been showing momentum and gains in both the short and long term.
DeFi is therefore in the long run and as the popular app tokens in your space continue to work this year can only get better as well as the years after. Earlier this year, when the DeFi sector saw tokens soar from different projects, many experts believed their technical indices signaled an impending downtrend. However, tokens in the DeFi space have had unprecedented increases since the beginning of the year until now. Aave (LEND), Ren (REN) and SwissBorg (CHSB) tokens are some of the tokens that have seen a massive price increase since the beginning of the year.
Aave has seen a number of bullish trends since the beginning of the year. With an increase of almost 1,100%, the performance of the token can be compared to the best in the game, in addition to surpassing that of many alternative currencies this year. Its listing price earlier in the year rose to a high of $ 0.17 a few days ago. With interest and investors shifting to the DeFi space, Aave's demand has increased with each passing day. London-based DeFi loan platform outperformed Bitcoin the Last week with an increase of 66.45%.
Ren, since the market crash in March, has seen an upward trend, increasing by more than 500% in the process. Its price was just below the $ 0.155 mark, its all-time high, a feat that was accomplished in August 2009. SwissBorg has also seen an increase of more than 1,760% since the beginning of the year and is currently trading at its highest point. tall. tall. Another DeFi-based token, Maker→, gained 25.60% over the same period, also outperforming Bitcoin's gains last week.
DeFi's ICOs have outperformed Bitcoin this season, even as the largest cryptocurrency saw its institutional interest hit a record high. With investor interest coming in every day, the DeFi sector is set to further shake up the cryptocurrency industry this year.