DeFi Rotates Selectively Amidst Bitcoin's Decline
Arbitrum has seen a significant surge of over 30% in recent times, while Curve DAO has gained around 15%. This selective DeFi rebound comes amidst Bitcoin's decline below $78,000. The divergence suggests that capital is rotating into decentralized finance (DeFi) selectively.
The surge in Arbitrum can be attributed to the growth in Robinhood Chain revenue, which surpassed $2 million in daily transaction revenue. As a result, Arbitrum has benefited from its 10% protocol-revenue share. This has given the token a measurable catalyst for further growth.
Curve DAO, on the other hand, is benefiting from its role in providing low-slippage swaps for stablecoins and similarly priced assets. The daily volume of Curve has moved above $100 million, with CRV trading near $0.35.