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Traders remain bullish even as DeFi’s TVL falls to $54.4 billion

Published 02/24/2021, 06:00 PM
Updated 02/24/2021, 07:40 PM
Traders remain bullish even as DeFi’s TVL falls to $54.4 billion
BTC/USD
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Decentralized finance and the numerous platforms offering investment services have been the talk of the cryptocurrency sector for several months, and this has resulted in investors capturing spectacular gains for some of the top DeFi tokens like Uniswap's UNI and AAVE.

The fast-moving prices and 1,000% annual percentage yield on staked tokens elicited cheers from investors when the market was going up, but the recent selling pressure seen as Bitcoin's (BTC) price dropped below $45,000 shows that the highest fliers are often the quickest to fall as traders rush to exit their positions and lock in their gains.

Daily cryptocurrency market performance. Source: Coin360
Total value locked in DeFi. Source: DeFi Llama

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