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Multi-Chain DeFi, Terra’s Scare, and DAI’s Resilience

May 26, 2021 · 3 min read

By Ashwath Balakrishnan, and Jeremy Ong

Today’s Digest

Crypto markets enjoyed a green day during the Asia and Europe sessions, with the market pulling back as the New York session opened. Money continues to flow into DeFi across various chains, and a scary week for the Terra ecosystem has a silver lining.

Key Takeaways

MATIC has seen the sharpest rebound since crypto markets set in a local bottom last Sunday. SUSHI and LUNA, while far behind MATIC, have also bounced hard. What stands out about MATIC, however, is that it’s almost back to its ATH. On the other hand, SUSHI and LUNA were two of the hardest hit by this month’s crash, and their rebounds can be considered more reflexive than demand driven. SUSHI and LUNA are still down 43% and 65% (from ATH) respectively against USD, while MATIC is 14% below its ATH.

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