Name Price24H (%)
Bitcoin (BTC)
$13,114.82
1.31%
Ethereum (ETH)
$415.31
0.24%
XRP (XRP)
$0.255838
0.10%
Litecoin (LTC)
$58.62
6.02%
Top DeFi Coins Boom 5-20% As Ethereum Roars Higher, Fundamen...
News

Top DeFi Coins Boom 5-20% As Ethereum Roars Higher, Fundamentals Strong


PrimeXBT 728X90

Ethereum has undergone a strong surge in the past 24 hours as buyers have stepped back into the crypto market. In the past day alone, ETH has gained 5%, as it currently trades at $368. For context, Bitcoin is only up around 1.5%.

The buying was seemingly triggered by the ending of a seeming capitulation in the : Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch

Ethereum Roars Higher, Forcing Defi to the Upside

Ethereum’s strong move to the upside on Friday triggered a sea of green for the DeFi market.



According to CoinGecko, leading DeFi coins have gained 5-20% over the past 24 hours. Band Protocol (BAND), Nexus Mutual (NXM), and Yearn.finance (YFI) are among the many DeFi coins that are part of this pack surging higher.

Related Reading: MicroStrategy’s Stock Continues to Soar After BTC Purchase

A series of Ethereum-based coins are surging by different amounts for different reasons.

Band Protocol is up around 15% in the past 24 hours seemingly related to Binance Launchpad’s yield farming opportunities for a new token called ALPHA. Users can deposit their BAND and earn ALPHA over time.

Yearn.finance has gained over 10% in the past 24 hours as Andre Cronje, founder of the project, confirmed that he is still working on the project. The Ethereum-based YFI is also rallying after a number of large short holders closed their positions. The closure of these shorts forced the price higher as confidence returned to the market.

Related Reading: MicroStrategy’s Stock Continues to Soar After BTC Purchase
Featured Image from Shutterstock
Price tags: ehth, ethbtc Charts from TradingView.com
Top DeFi Coins Boom 5-20% As Ethereum Roars Higher, Fundamentals Strong

Source: NewsBTC.com

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