DeFi Tokens Post Double-Digit Gains Amid Crypto Market Recovery

Several DeFi tokens including Sushi, Luna, and Aave have all surged in the last 24 hours as the broader crypto market rebounds.

As markets head into the holiday weekend with Bitcoin getting back above $50,000 a number of decentralized finance (DeFi)blue chip tokens are leading the charge, posting solid gains over the last day.

SUSHI, the governance token of the popular Ethereum-based decentralized exchange (DEX) SushiSwap, is up 12% today, changing hands at $7.55 by press time, according to some sources.

The token went into a freefall in early November, tumbling from above $13 to below $5 at the beginning of December amid infighting within the protocol’s team leading to the departure of CTO Josepf Delong.

Since then, several proposals for the future governance of the project were introduced, including the onboarding of Daniele Sesta, the person spearheading Frog Nation, a group of DeFi projects including Abracadabra. Money and Wonderland.Money.

Also Read:

• https://cryptoshiksha.blogspot.com/2021/12/todays-cryptocurrency-prices-bitcoin.html
• https://cryptoshiksha.blogspot.com/2021/12/santa-claus-rally-sends-bitcoin-beyond.html
• https://cryptoshiksha.blogspot.com/2021/12/us-lawmaker-planning-to-introduce.html
• https://cryptoshiksha.blogspot.com/2021/12/after-stellar-year-bitcoin-mining.html