Plenty of action across the different markets today. Despite Bitcoin dipping a bit, the DeFi tokens are still going strong. In fact, several of them are making a rather surprising comeback after enduring hardship.
The infamous SushiSwap platform has seen its fair share of trials and tribulations over the past few months. Even so, it seems things are slowly returning to normal, at least where its DeFi token is concerned. SUSHI notes a strong 19.9% increase in value, pushing its market cap back to $172 million. That is still down by 99.2% compared to the all-time high, though.
ALPHA (Alpha Finance)
Not too many people will be surprised to see ALPHA making the DeFi watchlist again. It tends to note relatively strong gains when people least expect it. In the past 24 hours, there has been another 14.9% increase in value. Despite making the watchlist a few times already, ALPHA’s market cap is still just $28.5 million.
Whether one is a fan of YFI or utterly despises it, no one will deny there is good money to be made here. Currently valued at 1.46 BTC or 54.788 ETH respectively, YFI has been a very prominent token in the DeFi industry. Its current value sits at $36,105, thanks to a 15.8% gain. That all-time high of $43,978 is still well out of reach, even if this growth continues.
For those unfamiliar with this platform, APY.finance positions itself as a yield farming robo-advisor. Funds are constantly routed to a portfolio of yield farming strategies. For DeFi enthusiasts, this can introduce a lot of interesting options nor, or in the future. The native APY token gained 15.6% in value, continuing the strong bounce from the all-time low recorded 10 days ago.
FLM (Flamingo Finance)
The correlation between a flamingo and DeFi is not necessarily apparent when looking at the project’s website. Even so, this interoperable full-stack DeFi protocol on the NEO blockchain aims to make a lasting impact on the market. Speculators seem to appreciate the FLM token, which has gained 11.2% in value over the past 24 hours. With an all-time low reached just 14 days ago, the downtrend appears to be broken.