Altcoin

DeFi revival pushes Celo, Venus (XVS) and Fantom (FTM) price higher


A new report by CoinShares suggests Bitcoin (BTC) has garnered 97% of the total crypto inflows in 2021.

The recent correction in Bitcoin price does not seem to have deterred crypto investors as CoinShares data shows a record $1.3 billion in crypto product inflows over the past week. This suggests that investors are accumulating on the dips rather than attempting to chase higher prices.

Crypto market data daily view. Source: Coin360

Another space that has taken giant strides in the past few months has been the decentralized finance sector. While bond yields across the world are reeling near-zero levels, the attractive yield farming opportunities in DeFi and flash loans have attracted investors, boosting the total value locked to $26.1 billion on Jan. 25.

Unless the markets are gripped in panic, there are always certain sections that are in a bull phase. The tokens selected today have also outperformed the broader market in the short term.

Let’s investigate some of the fundamental reasons behind their bullish moves and pinpoint the critical levels to watch out for.