Chart of the Day
Split Ends. Several DeFi heavyweights saw soaring gains recently, breaking out of the sluggish spell that seems to have taken over the crypto market. Uniswap (UNI) and Aave (AAVE) came out on top over the past week, scoring more than 10% in growth against lackluster performance by ETH. The price trajectory for DeFi tokens has followed closely with ETH’s since the market’s overall decline began in May 2021. This current split in correlation indicates a possible repricing of DeFi assets as it makes a soft bounce back into recovery.