After a strong comeback Wednesday morning, decentralized finance (DeFi) tokens are rising once again. The best cryptocurrencies in the DeFi area experienced a serious increase day by day, becoming the best performing cryptocurrencies in the top 100 by market value.
Bitcoin remained basically stable the other day as it tried to consolidate between $ 17,000 and $ 18,500. Continuing to be consolidated, BTC could naturally allow altcoins to recover further.
The Best DeFi Tokens Are On A Serious Rise
The best DeFi tokens are on the rise during a shift from Ethereum to altcoins. The value of SushiSwap’s SUSHI token has increased by 20% in the last 24 hours and by 120% in the last 7 days, to the highest level in a few weeks. Crypto money benefits from liquidity change due to incentives in Uniswap, its primary competitor and the protocol from which it is derived. SushiSwap developers are expected to launch a number of products soon, such as lending service for users, leveraged trading, and order limiting to improve user experience.
SUSHI dropped significantly in September and October, as investors believed Uniswap would steadily maintain its market share. But with governance concerns and a wider DeFi bear market, Uniswap liquidity dropped somewhat, as in volume.
The value of Yearn.finance’s YFI token has increased by 25% in the last 24 hours, making it the second best performing crypto in the top 100 in terms of market value. Yearn.finance, like SushiSwap, is going through technological upgrades that will increase the price of its native token forward. Other coins such as Curve DAO Token, Uniswap, THORCHain, Waves, Synthetix Network Token, and more saw a significant increase the previous day.
There Is An Increase In Ethereum
Despite the strong rally in DeFi cryptocurrencies over the past few years, there has been no serious movement in Ethereum, but today the leading altcoin has managed to surpass the $ 500 level. The cryptocurrency has grown by 8% in the last 24 hours.
Analysts are still waiting for ETH to rise in the coming weeks. One analyst said, referring to the chart seen below:
“It hasn’t even started its parabolic run like BTC yet, there is still a big scope in the next few weeks, plus major macro support, downside risk is just below the limits. It’s still tremendously rising over all time frames. ”
ETH is also likely to benefit from the launch of Ethereum 2.0 in December or January.