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Ethereum Gaining Interest as Institutional Asset Class as Decentralized Finance Gets Boost with Bitcoin focused DeFi Platform: Report
December 12, 2020 @ 3:54 pm By Omar Faridi
Ethereum (ETH), the world’s largest smart contract platform, and major decentralized finance (DeFi) assets have dropped during the past week. However, DeFi-related infrastructure is getting a boost from Bitcoin (BTC), according to a report from OKCoin.
During the last week, top DeFi platforms such as Yearn.finance (YFI) and Aave (AAVE) faced moderate price corrections while some smaller-cap initiatives experienced strong gains.
The report from OKCoin noted:
“The fundamentals of the DeFi space continued to gain strength… The Ethereum 2.0 upgrade saw further support from users while individual protocols announced positive developments. The space also got a big boost with a group of developers launching a Bitcoin-focused DeFi platform to attract BTC holders.”