Multiple DeFi tokens rally: Ethereum Whales capitalize
The DeFi market kickstarted its recovery a few days back. On 16 October, the total value locked in all protocols was at its lowest point in October. From there, a trend reversal started materializing, and at press time, the said metric depicted an elevated reading of $54 billion. As depicted below, a close to 1% recovery has been noted on this front over the past day. Source: DeFiLlama Individual protocols like Maker and Lido Finance have noted inclines greater than 4% over the past week, instigating the broader recovery. Source: DeFiLlama Interestingly, Algorand’s TVL has been inclining since the beginning of this month. From a low of $175 million registered on 7 October, the value of all tokens locked on its platform has inclined to create a new all-time high of $274 million. The same has, notably, registered a 2% rise over the past day. Source: DeFiLlama Ripple effects On the price front, three tokens among the top five gainers on Wednesday were DeFi-related....