Decentralized finance (DeFi) has once again led the market, with the DeFi Select index rising by 5.0%. The standout performer was the Aave token, which surged by 11% amid discussions about a potential token burning mechanism as part of the upcoming Aavenomics update, as reported by project founder Stanis Kulechov. Bitcoin also regained its footing after Monday's losses, trading at $84,170, which is 0.82% higher since midnight UTC. The CoinDesk 100 index increased by 0.89%, reaching 1,904.49. Despite the growth in DeFi, US stock markets continued to decline, with the Dow dropping more than 300 points and the S&P 500 and Nasdaq Composite falling by 0.8% and 0.9%, respectively.
The 10-year Treasury yield stood at 5.234%, while the 30-year yield approached levels not seen since 2004, putting pressure on risk assets. While Brent crude fell by 0.85% to $97.92, the price of gold rose by 0.68% to $4,140. The dollar index increased by 0.18%, reaching 101.36. The open interest in futures remained at $149.36 billion, with trading volume increasing by 26% to $218 billion. Liquidations remained at $389 million. Open positions in Bitcoin futures dropped to 644,000 BTC – the lowest level since March 4. The Zcash token fell by 4.1% to $1,422.35, while Dash decreased by 6.4% to $61.38.
The LINK token showed significant growth of 14% over 24 hours, as did Quant, which rose by 17% to $269.58. The Curve DAO token increased by 5.2% to $0.3457. The Internet Computer (ICP) added 8.3% to $3.39. Meanwhile, Hedera declined by 3.2% to $0.12, and Litecoin fell by 0.51% to $68.86. The current situation in DeFi and significant fluctuations in the crypto market continue to attract interest from traders and investors, despite pressure from traditional markets.
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