Ethereum Price Tanks, Bringing DeFi Tokens Down With It

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Cryptocurrency traders and investors in the US today awoke to significant losses across the market. Bitcoin dropped by more than 5%, falling as low as $55,800, bringing Ethereum, the second biggest crypto asset my market cap, down with it.
Ethereum today shed more than 7% to its price, losing a week's worth of gains. ETH is currently trading for $1,948 per token.
And as Ethereum goes, so goes the DeFi market.
DeFi, short for “decentralized finance,” is a catch-all term that describes a collection of non-custodial, peer-to-peer">peer-to-peer financial products. This includes lending, borrowing, and trading services that function without the need for a middleman, like a bank. Many of these platforms have their own crypto tokens—which throughout 2020 have skyrocketed in price. Source