The decentralized finance sector has posted massive gains throughout the past week, with all the “blue-chip” tokens seeing explosive momentum as bulls flood back into the embattled fragment of the crypto market at full speed.
This rebound first began when DeFi darling Yearn.finance’s YFI token hit lows of $7,500, at which point it incurred some massive momentum that sent it skyrocketing towards highs of $18,000.
It has since stabilized and is trying to post a high time frame close above this crucial level. If firmly broken and held above over an extended period of time, it could provide a base for it to grow upon that allows it to set fresh all-time highs.
In tandem with the price spikes seen by many crypto tokens within the ecosystem, liquidity providers’ yields on decentralized trading platforms have also rocketed.
This has justified the price movements seen by DeFi tokens and could create a tailwind to lift them higher.
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