Ethereum DeFi Coins, Polygon Lead Crypto Market Recovery

According to analysis platform CoinGecko, the crypto market is slowly recovering today after the sharp decline last week as Bitcoin and other major cryptocurrencies are turning green again. At the time of press, Bitcoin is approaching $ 38,000, up about 14% in one day (but still down 17% last week). Ethereum, on the other hand, is growing slightly faster and is trading around $ 2,500 (+ 34% in the last 24 hours). Specifically, both cryptocurrencies have lost 51% and 60% respectively from their all-time highs last week. Meanwhile, the two cryptos outperformed the others – Polygon (MATIC) and MakerDAO (MKR) – their prices nearly doubled within 12 hours. The range has risen from $ 0.76 to $ 1.57 today. Prior to that, the token had lost 72% in less than a week and traded at $ 2.68 on May 18. The crypto market soared on May 24. Image: CoinGecko MKR, the decentralized token of the popular decentralized financial platform (DeFi) MakerDAO, showed a similar pattern. On Sunday, the price climbed from $ 1,835 to $ 3,631 today. Recently, MKR fell 71% from its all-time high in early May and 63% last week. Other DeFi tokens such as Aave and Uniswap are also seeing huge gains in the past 24 hours: Aave has increased by 51% while Uniswap has increased by 53%. Helium (+ 46.4%), Harmony (+ 56.4%), THORChain (+ 42.5%), Phantom (+ 46.1%), IOTA (+ 28%, 9%) and OCD (+% 17,6), altcoins in general) are among the fastest growing cryptocurrencies today. At the same time, the total market cap of all cryptocurrencies has increased from $ 300 billion today to over $ 1.625 trillion. In particular, Bitcoin's recovery has pushed the coin's dominance index (essentially a measure of the coin's market share relative to other crypto assets) to over 45% – following a multi-year drop below 40% recently. Chart: Growth of users in the BTC network. Non-coin buyers use this opportunity to purchase the dive. Bull if you're wondering

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