Aave · U.S. Treasury · Bitcoin · CoinDesk
Aave leads DeFi higher as crypto shrugs off surging bond market
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Bitcoin BTC $83,189.97 recovered Monday's losses to trade at $84,170 on Tuesday, up 0.82% since midnight UTC and 1.4% over 24 hours, with 72 of the 100 CoinDesk 100 constituents higher and the index adding 0.89% to 1,904.49.
Key facts
- Decentralized finance (DeFi) is driving the move for the second time in a week, with the DeFi Select Index (DFX) gaining 5.0% since midnight, led by lending protocol token aave AAVE $166.46 at 11%
- Bitcoin BTC $83,189.97 recovered Monday's losses to trade at $84,170 on Tuesday, up 0.82% since midnight UTC and 1.4% over 24 hours, with 72 of the 100 CoinDesk 100 constituents higher and the index
- Privacy tokens are the exception and the sharpest decliners, zcash (ZEC) tumbled 4.1% to $1,422.35 and 8.4% over 24 hours, and dash DASH $61.27 6.4% to $61.38, extending a retreat that has taken
- Brent crude eased 0.85% to $97.92, holding below $100 after Monday's spike, while gold added 0.68% to $4,140 and the dollar index firmed 0.18% to 101.36
Summary
Bitcoin recovered Monday's losses to trade at $84,170, up 0.82% since midnight UTC, with the CoinDesk 100 adding 0.89% to 1,904.49. DeFi led again, the DeFi Select Index up 5.0% on aave's 11% rise, after Stani Kulechov said a token burn may form part of the coming Aavenomics upgrade. The gains came despite the 10-year Treasury yield at 5.234% and the 30-year near a 2004 high, which drove U.S. stocks lower for a second session on Monday.