News
Hardcore decentralized finance (DeFi) adherents woke up today to a long-awaited sight on Coingeckoâs top 100 rankings by marketcap: native tokens for popular DeFi platforms Synthetix and Aave have cracked into the top 20, an event DeFi observers have heralded as âThe Great Repricing.â
DeFi investors, users, and builders have long argued that the sector writ large is wildly undervalued relative to other cryptocurrency projects given DeFiâs growing userbases, cash flows from protocol fees, and soaring levels of activity compared to âzombie chainâ layer-1 networks scattered throughout the top of the marketcap rankings.
Aave and Synthetix have broken the top 20 and passed Tezos and Tron in marketcap.