Join Delphi Research today and immediately get access to our full Member Portal!
Join Delphi Research today and immediately get access to our full Member Portal!
Back

Market Sentiment and DeFi’s Resilience

May 25, 2021 · 3 min read

By Ashwath Balakrishnan, and Jeremy Ong

Today’s Digest

The Bitcoin derivatives market is coming back to life, and retail sentiment fell at record pace during this month’s drop. But besides token prices falling across the board, DeFi projects continue to march on to record usage levels.

Key Takeaways

After a 12% rise, BTC is trying to hold on to yesterday’s gains. One positive sign for bulls is funding for BTC perpetuals reverting back to neutral rates (close to 0). The average funding rate across top derivatives exchanges, pictured below, didn’t fall as hard as March 2020 and recovered faster. This potentially indicates that sentiment in the perp market has already improved.

Delphi Dailys are absolutely free to read on our portal and get in your inbox - you just need to sign up with your email!

Sign Up For Free