Before And After: DeFi Tokens Take Investors For Spin On Wheel Of Fortune
Altcoin season is here, but it isn’t the same as it has always been. Not all boats are rising with this tide. Instead, there’s a focus of capital flowing into real value versus untested and freshly minted altcoins in 2017.
DeFi has staying power, and is still very early in terms of what the assets are capable of. Taking just one of the standout DeFi tokens shows in just two month’s time, the fortunes that have been made.
Stand out star AAVE has grown 1000% in two months since its November 2020 low | Source: AAVEUSD on TradingView.com
Since the November low in DeFi token AAVE, it has risen 1000% against the dollar. Several other coins from the category have performed equally or nearly as well.
Ethereum, the primary cryptocurrency network most DeFi tokens are built upon, also has brought investors significant returns thus far in 2021.
The trend in DeFi is only beginning, and with a max supply much less than Bitcoin’s, tokens like AAVE have a lot more to climb before its all said and done.