DeFi Tokens Rose In A Turbulent Week
In a week when bitcoin and ether were mostly flat, a few lesser-known names in decentralised finance (DeFi) posted double-digit gains.
Injective Protocol (INJ), the layer 1 blockchain geared towards building decentralised finance applications such as exchanges and lending protocols, was this week’s DeFi and overall leader. INJ is also the year-to-date leader, having increased 527% since January.
Lido (LDO), Synapse (SYN), and PancakeSwap (CAKE) had strong weeks as well, rising 15%, 13%, and 12%, respectively.
ARPA Chain (ARPA), a stock in the Computing sector, was the week’s biggest loser, falling 40%. The CMI contains 156 assets divided into six sectors, with each asset classified according to its intended use or application.
(With inputs from Shikha Singh)
You need to login in order to Like
