DeFi Assets Show Signs of Recovery Despite Regulatory Challenges
According to a recent report by Glassnode, DeFi assets have been slowly recovering over the past month, despite the ongoing regulatory challenges in the industry. Here are the key points from the report:
- Positive developments in the crypto asset industry have been beneficial to the DeFi sector.
- Market makers have increased liquidity in DeFi token pools, indicating a positive outlook for trading and price activities.
- Glassnode’s DeFi index price has rallied 56% since mid-June, and CoinGecko’s DeFi token category has seen a 22% increase.
- However, most DeFi tokens are still significantly down from their peaks, with many experiencing losses of over 90%.
- MakerDAO (MKR) and Compound Finance (COMP) have stood out as tokens with better performance, potentially due to new project fundamentals.
Despite these positive indicators, the recent sharp decline in crypto markets has affected DeFi tokens as well. The market is currently experiencing a bearish trend, with several tokens seeing significant losses. Around $1 billion has left DeFi tokens in the past 24 hours, indicating a slower recovery than anticipated.
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