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L1 Performance, Funding Spikes, Options Get More Expensive

Sep 2, 2021 · 3 min read

By Ashwath Balakrishnan

Market Update

After yesterday’s solid price action, ETH had a slow day while BTC attempted to make up for lost ground. Layer 1 network tokens continue to lead the market, while DeFi prices continue to stagnate.

Monster August for L1s

Layer 1 coins have done extremely well over August, thanks in part to several announcements of ecosystem-wide liquidity mining. AVAX ripped upon the announcement of a $180M liquidity mining program, followed by a relentless bid on SOL. Fantom’s liquidity mining, though misunderstood, also sparked a rally in FTM. KSM and DOT look primed to join the party.

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