It’s been a tough past few weeks for the DeFi market. Leading coins pertaining to decentralized finance have undergone strong corrections as buying pressure from the summer subsides, resulting in a mass of early adopters taking profits.
The average DeFi coin fell by 65% from its summer highs to the lows set just a few weeks ago. Fortunately for investors in these coins, largely based on Ethereum, a strong recovery is taking place.
Market data indicates that the DeFi space has rocketed higher over the past 24 hours. This comes amid strong fundamentals for the space.
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Market data from CoinGecko shows that the DeFi space is gaining steam as Bitcoin and Ethereum push higher after this week’s OKEx-induced correction.
Top coins pertaining to the space have gained over 10% in the past 24 hours. These include but are not limited to,