Economist: DeFi prices to trend higher as Bitcoin creates tailwind for beta asse

[Cinno3]

The DeFi sector has been struck hard by the recent market-wide downturn seen throughout the past couple of months. Its descent first began at the start of September after Bitcoin’s price slid from its previously $12,400 highs.

Since then, many of the coins residing within this part of the crypto market have posted massive losses, erasing all the gains incurred due to the sector’s parabolic push higher.

Over the past couple of days, the larger digital assets – like Bitcoin and Ethereum – have both posted immense surges that have shifted the market conditions back into bulls’ favor. Yet, the DeFi sector is still lagging due to its “high beta” nature.
More: https://cryptoslate.com/economist-defi-prices-to-trend-higher-as-bitcoin-creates-tailwind-for-beta-assets/