User: trentboulton
Post link: https://bitcointalksearch.org/topic/--5287477
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In fact, most DeFi tokens have erased 70% to 90% of their gains since early September, as Binance’s Nov. 5 report notes. In early October, Cointelegraph reported on the index’s already stark decline to $507. Its all-time high had been $1,189 on the first day of trading in late August.
As the report outlines, only eight DeFi tokens, AAVE and UNI, showed a neutral correlation with Bitcoin over the 45 days running up to Nov. 1. Eight other DeFi tokens had a wholly negative relationship. In addition:
“7 of 13 DeFi tokens had negative correlations with Ethereum (ETH), despite Ethereum powering much of the DeFi ecosystem. DeFi’s negative correlation with BTC and ETH is no surprise as the DeFi bubble came to a crashing end in September.”
Original source
https://cointelegraph.com/news/binance-s-defi-index-crashes-60-as-bitcoin-overshadows-altcoins