Top DeFi Analyst Explains Why YFI & AAVE Surged 100% in Days
This seemed to be the case for a number of weeks as top DeFi coins like Aave dropped 60-80% from their summer highs, which were also their all-time highs in most cases. One top investor in the space recently explained why he thinks DeFi has bounced back as fast as it did, with blue-chip names like Aave, YFI, and Synthetix Network Token (SNX) leading the way.
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Crypto Analyst Explains why DeFi Has Surged So Fast According to former Messari head of product Qiao Wang, now a crypto-asset analyst and DeFi investor, the strong rally is due to the lack of liquidity in the DeFi space to accommodate an influx of buyers: "Recap of what I think happened. Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com.
