It appears that decentralized finance (DeFi) is back in vogue after a strong 80% correction throughout the past two months.
There is a large amount of institutional capital being deployed back into the DeFi space as top coins bounce strongly from their lows.
For some context, top coins pertaining to this space have gained massively since the local lows. Yearn.finance’s YFI, AAVE, Synthetix Network Token, and many more have gained 100% in the past two weeks alone. Analysts expect further gains as the fundamentals of this nascent space continue to improve at a rapid clip.
Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Galaxy Digital Invests in 2 Crypto Funds
After some hesitance expressed over the DeFi space due to security and regulatory uncertainty, Galaxy Digital has begun to invest in the space. Galaxy Digital is a leading crypto-asset fund and multi-faceted merchant bank that is headed by a former Goldman Sachs partner, billionaire investor