Ethereum DeFi Tokens Jump Amid Market Recovery
Curve, Aave, Sushi, and Compound, which all launched on Ethereum, are trading in the green amid renewed positivity in the DeFi market. According to data from CoinGecko, Curve is up 15.6%, trading at $3.07 at the time of writing. Sushi has risen to $12.88, while Aave, Compound, Yearn.Finance, and Uniswap are also up.
DeFi tokens often move in unison: when one rallies, the others tend to follow. DeFi’s price action is frequently bullish shortly after Ethereum surges. That’s not the case today, however: ETH declined Tuesday and has since recorded a modest 2% gain.
Ethereum’s DeFi ecosystem has been relatively stagnant for a few months now. Since the market crashed on May 19, several blue chips have struggled to make new highs. Instead, the focus of the summer was on …
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