The co-founder of crypto data aggregator Markets Science, Twitter user “Bitdealer,” has shared a chart indicating negative correlations between 11 top DeFi tokens and Bitcoin (BTC) over the past 45 days up to Nov. 1, with AAVE showing neutral correlation and UNI showing confluence of less than 0.1.
Seven of 13 DeFi tokens were also found to have negative correlations with Ethereum (ETH), despite Ethereum powering much of the DeFi ecosystem.