DeFi tokens make triple-digit gains as Bitcoin price searches for support
Even Curve finance’s CRV governance token, one which many crypto investors have described as a complete laggard, pulled off a clean double bottom reversal and rallied 176% to $0.84. After nearly being shorted to death by the likes of Sam Bankman-Fried and other savvy professional traders, Yearn Finance’s (YFI) token is also making waves with an 83.5% gain in the past week.
In fact, this week Uniswap saw a $1.3 billion dollar (57.5%) drop in in its total value locked as users sought more fertile pastures at other DeFi platforms. As this occurred SushiSwap saw a more than 300% increase and in the past week the token has rallied by 127% to trade at $1.63.