$14.26 -11.76%
SNX · 6d

AAVE and SNX Surge Dramatically, Initiating New Prospects in DeFi

There is a decreasing trend for 4 consecutive days in the crypto community, and the price of Bitcoin has fallen from a maximum of $41,900 to $30,408, a drop of nearly 27%. The scale of the cryptocurrency market has shrunk extremely, from $1.1 trillion to $850.3 billion, and now it has rebounded to around $940 billion.

At present, as the top bitcoin, there is no sign of stabilization, especially when the Chinese New Year is approaching, the "Chinese New Year cash out" curse casts a shadow on the short-term trend of Bitcoin.

However, with the sudden emergence of DeFi in 2020, some popular tokens are the first to get rid of the drag of Bitcoin and usher in the sound market.Source: QKL123

The decentralized lending leader AAVE and the synthetic asset leader SNX both hit new highs on Jan. 13. In addition, the layer2 concept coin INJ also hit a record high. The storage concept coin AR, the insurance project WNXM, and the decentralized asset management protocol token MLN all set a new high in the past 30 days.

The DeFi craze in the summer of 2020 allowed more people to focus on DeFi projects. In that crazy summer, countless DeFi governance tokens emerged, and these tokens have experienced amazing short-term growth. Many people relied on liquidity mining and yield farming to make a lot of money.

However, in last October, DeFi gained less popularity, and the profitability of countless homogeneous liquid mining projects plummeted. It was no longer difficult to stimulate the adrenaline of "farmers".

As the tide receded, most of the projects disappeared and faded out of sight. Some high-quality DeFi projects that have withstood market tests have been retained and continue to be enthusiastically received by funds. Decentralized lending leader AAVE and synthetic asset leader SNX are included in it.

AAVE is the conversion of the decentralized lending platform LEND (later renamed AAVE), the governance token Lend. At the beginning ...
Continue on
Recent news
No posts found