Bitcoin is leading up to the expectations of all the bullish predictions as it has now broken the barrier at $40K. Due to such an extremely bullish outlook, it has been seen that some altcoins have also reached higher as the total crypto market cap is now more than $1 trillion. This increase has been seen in top DeFi revivals as well which includes Tezos (XTZ), Synthetix (SNX), and Yearn.Finance (YFI).
Top DeFi Revivals Entering Early Stage of Rally
All the top DeFi revivals have now entered into an early stage of the rally as their prices are getting higher. As per the analysts, it is assumed that this bull run will continue further.
Tezos (XTZ) comes among these top revivals and in the past few weeks, it has been a subsequent growth. For the past several months, Tezos has been trying to improve its performance and it started through its Delphi upgrade. This upgrade took place in November with a major goal of reducing the smart contract gas fees.
Next comes Synthetix (SNX) and the major reason behind the surge in its price is its listing on Coinbase. Along with this, on December 24, 2020, it has also added Bitcoin as collateral. This step has helped SNX to boost its supply to a very great extent.
The last one in the list of top DeFi revivals is Yearn.Finance (YFI) which is in major action for the past few months. It has also teamed up with some prominent DeFi projects which have helped it to gain popularity in the space. Recently, top crypto exchange, Binance, has announced to launch staking for YFI which is another trigger to this recent increase.
Crypto Adoption Increasing Extensively
Over the past few months, it has been seen that crypto adoption is increasing to a very great extent and the major reason is the COVID-19 pandemic. This is the major reason behind this huge surge in the price of most of the cryptocurrencies out there. Just like other cryptocurrencies, these top DeFi revivals are also expected to continue this bullish outlook further.