When Bitcoin moves, so too does the rest of the crypto market. This weekend’s bullish activity has been no different.
As the leading cryptocurrency eyes the key $40,000 mark following an 11% rise, many other top tokens have followed. The most notable of which have been tokens linked to the growing decentralized finance, or “DeFi” space. This sector essentially replaces many traditional banking services, like lending and borrowing, with lines of code and so-called “smart contracts.”
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Of late, the sector is booming. According to DeFi Pulse, a data aggregator for various DeFi protocols, indicates that there is $64.28 billion in funds sloshing around inside the crypto niche. This is nearly a 30% drop too from its high of $90 billion during the May market fervor.
The total amount of money “locked up” in different DeFi protocols. Source: DeFi Pulse
Today’s uptick has been boosted along by three of the more popular “blu
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