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Binance Defi Crashes More Than 65% as BTC Goes Up

By Jw1 | JW | 6 Nov 2020

Binance Defi Crashes More Than 65% as BTC Goes Up :

Binance defi has gone more than 60% towards the downside, it was really strong in the early august but as the US presidential election came closer Bitcoin (BTC) started to surge really high and the mostly Ethereum (ETH) powered DeFi system wasn't able to keep up with the up-surging Bitcoin (BTC).

As of the reports, there's total chaos in the DeFi based tokens as there has been a huge loss of gains in the DeFi tokens as the Bitcoin started to grow.
It is estimated that around 75 % to 80% of the DeFi token's gains have been lost in this Bitcoin (BTC) rally.
There are a few DeFi based tokens which didn't show much negative impact on them in correlation with Bitcoin (BTC), like UNI and AAVE along with some others.
People have shifted towards Bitcoin (BTC) in a massive number and have hugely invested in Bitcoin (BTC) making it rally crazily and increasing its volume.

Market is totally in Bitcoin's (BTC) favor right now and will keep like that for upcoming few months, Bitcoin is actually really strong right now, it is kind of showing it potential to people who were thinking that BTC is not powerful now as it used to be.

Wish You Health & Happiness.

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Bitcoin (BTC) Blockchain DeFi Binance Aave

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Jw1

A Blockchain developer, been into the IT profession for years, Good market analyst, Been into cryptocurrency for 4 years. Would be delighted to share my knowledge with people.

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Binance Defi Crashes More Than 65% as BTC Goes Up

Binance Defi Crashes More Than 65% as BTC Goes Up :

Binance defi has gone more than 60% towards the downside, it was really strong in the early august but as the US presidential election came closer Bitcoin (BTC) started to surge really high and the mostly Ethereum (ETH) powered DeFi system wasn't able to keep up with the up-surging Bitcoin (BTC).

As of the reports, there's total chaos in the DeFi based tokens as there has been a huge loss of gains in the DeFi tokens as the Bitcoin started to grow.

It is estimated that around 75 % to 80% of the DeFi token's gains have been lost in this Bitcoin (BTC) rally.

There are a few DeFi based tokens which didn't show much negative impact on them in correlation with Bitcoin (BTC), like UNI and AAVE along with some others.

People have shifted towards Bitcoin (BTC) in a massive number and have hugely invested in Bitcoin (BTC) making it rally crazily and increasing its volume.

Market is totally in Bitcoin's (BTC) favor right now and will keep like that for upcoming few months, Bitcoin is actually really strong right now, it is kind of showing it potential to people who were thinking that BTC is not powerful now as it used to be.

Wish You Health & Happiness.

Your Like and Tip helps a Lot 🙏