DeFi declines while Bitcoin booms By Cointelegraph


Zero-sum game: DeFi declines while Bitcoin booms

The co-founder of crypto data aggregator Markets Science, Twitter-user ‘Bitdealer,’ has shared a chart indicating negative correlations between 11 top DeFi tokens and BTC over the past 45 days to Nov.1, with AAVE showing neutral correlation and UNI showing confluence if less than 0.1.

Seven of 13 DeFi tokens were also found to have negative correlations with (ETH), despite Ethereum powering much of the DeFi ecosystem.

45-day correlation between price performance of BTC and 13 top DeFi tokens: Bitdealer
Monthly DEX volume: Dune Analytics

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