Cryptocurrencies
DeFi Mania Cools With Bitcoin Back in the Crypto Spotlight
- Decentralized finance coin prices have slumped since September
- Yield-farming strategies had produced triple-digit returns
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The biggest casualty of the current Bitcoin renaissance? Cryptocurrencies linked to decentralized finance applications, the favorite darling of the digital-money crowd this summer.
While Bitcoin has climbed about 50% since early September, DeFi coins -- used largely for speculation within apps that let investors lend to, trade with and borrow from one another -- have tumbled after posting triple-digit returns just months earlier.