DeFi Tokens Lead Altcoin Season 2020 as Total Value Locked Crossed $2 Billion

Decentralized finance tokens have outperformed their crypto brethren over the past month, with some hitting two-year highs. The momentum has been driven by a liquidity farming frenzy whereby investors and speculators lock their crypto holdings on DeFi platforms in exchange for impressive rates of interest and token distribution rewards.

DeFi platform Aave has been another solid performer with its LEND token surging 54% over the past seven days. Ren is another DeFi token to monitor as it is following a similar pattern, climbing 35% over the past week.

Timeline of Ren