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Is Ethereum in any position to trigger a DeFi summer right now
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ambcrypto.comThe DeFi’s market movement has been quite dismal over the past few weeks. Right from MKR, AAVE, and COMP to UNI, SUSHI, and YFI, almost all the top tokens from this space have been incurring losses.
Amidst the larger downtrend or ‘winter’ phase going on, the aggregate value locked in DeFi slipped to $85 billion yesterday – A level that was last observed in early October.
Curiously, the losses were negated right after as this metric registered a sharp hike over the last few hours. At the time of writing, DeFi TVL’s was north of $100 billion. The expeditious ‘W-shaped’ recovery can be seen on the chart attached below.
Source: DeFiPulse
Interestingly, this rise in TVL has been accompanied by an increment in user count. Even though the reading of
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