Bankless

ROLLUP: 1st Week of February (ATH for $ETH & $DPI, Logan Paul NFTs, HashMasks, Saylor Conference)

Feb 5, 2021
February kicked off with Ethereum hitting new highs, spurred by retail excitement post-GameStop. The DeFi Pulse Index showcased impressive growth alongside innovative projects like the Monolith Visa card and Aave's latest features. Hash Masks captured attention in the NFT realm, revolutionizing digital art. Celebrities, including Logan Paul, entered the NFT scene, impacting perceptions and investments. The rise of uncollateralized loans highlighted the evolving landscape of decentralized finance, while Gemini and Synthetix remained key players in crypto trading.
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INSIGHT

DeFi and ETH Market Explosion

  • ETH price broke all-time highs three weeks straight, recently hitting $1700.
  • The DPI (DeFi Pulse Index) and DeFi's total locked value also exploded.
INSIGHT

DPI to ETH Ratio Hints at DeFi Season

  • DPI/ETH ratio's rise suggests a potential DeFi season.
  • DeFi tokens are outperforming ETH, similar to the DeFi summer.
ADVICE

DeFi Investment Caution

  • Be cautious when speculating on DeFi tokens.
  • Prioritize foundational crypto assets to minimize risk during market downturns.
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