This Binance-Sponsored DeFi Coin Has Surged 600% in the Past Week

It appears that the decentralized finance (DeFi) bull market has returned after a two-month hiatus. Top coins pertaining to this space have seen a rapid surge over the past few weeks as buying pressure returns to this space.

Mostly, it’s been large-cap investments that have enjoyed strong rallies: Yearn.finance’s YFI, Synthetix Network Token (SNX), and many other players in this class have gained around 100% from their local lows. Many of these coins saw brutal drops in September and October as early adopters sold the cryptocurrencies en-masse.

But smaller, newer DeFi coins have begun to rally as well.

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What is Alpha Finance?

In the past 10 days, Alpha Finance Lab‘s native ALPHA token has surged approximately 600% from ~$0.02 to $0.147 as of this article’s writing.

ALPHA is the native token of Alpha Finance Lab, supported by Binance Launchpad and investors such as Spartan Group and Multicoin Capital. The project is focused on building out an ecosystem of cross-chain DeFi products that “will interoperate to bring optimal alpha returns to users.”

Read more:  Charted: Binance Coin (BNB) Surges Towards $250, Why Bulls Are Not Done Yet

Alpha Finance Lab’s primary product right now is Alpha Homora, which is an Ethereum yield farming tool that allows users to obtain leverage with their DeFi farms:

Jason Choi, the head of research at Spartan, also referenced Alpha Homora in a recent tweet. He said that this is the only platform where he has seen native leverage and yield farming available on one platform.

As the DeFi bull market returns, investors will seek an increasing amount of yield on their DeFi yield farms and investments. Alpha Homora offers users an easy way to obtain access to that leverage.

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