Hot Crypto News Today DeFi Pulse Index rises by 52.65% on the back of AAVE, Synthetix and BadgerDAO You Must Read To Get More Information For Trading and Investment.
The month of March 2022 was very profitable for the crypto market as most of the coins saw a significant recovery. Notably, the recovery wasn’t limited to the spot market but also to the DeFi market.
DeFi assets rise up
The DeFi Pulse Index (DPI), which tracks the performance of 15 DeFi tokens, has observed a stark recovery in the last few weeks.
Since its rebalance on 9 March, DPI has shot up by 52.65% to trade at $221.88, but the rally could only be achieved by the cumulative recovery of all its 15 underlying assets and not just a few of them.
However, three of these tokens have led the recovery race. These are AAVE, Synthetix, and BadgerDAO. They have spiked by 93%, 83%, and 64%, respectively, in the last month.
Since 14 March, AAVE has observed a $110 increase in price, rising from $122 to trade at $231, the rally did take a break a few days ago as the RSI extended into the overbought zone.
Similarly, Synthetix also rose by 116%, noting a similar path as AAVE did. However, SNX lost 10.16% in the last four days.
Lastly, BadgerDAO too rose but not as much as the former two since its rally was cut short around the end of March, resulting in just a 75.63% rise.
However, while their prices have risen, the investors on the network aren’t still having the best time.
On-chain profit-loss distribution of each of these DeFi coins’ investors shows that most of the coin holders are still in losses. While the rally did pluck a significant percentage of investors out of losses, it didn’t save them all.
In the case of AAVE, 66.55% of holders are still at a loss, 83.33% of the total BADGER investors are suffering the same fate, and 55.7k (70.03%) SNX holders are yet to witness the light of profits.
But given the fact that the situation is improving day by day, one can expect all these investors to recover losses in the coming months.
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