DeFi tokens lead the market larger as Bitcoin value searches for momentum

DeFi tokens lead the market higher as Bitcoin price searches for momentum

Several DeFi tokens saw their prices breakout on Feb. 4 as (BTC) and Ether (ETH) prices traded sideways for the day. Aside from the general bullish trend permeating the DeFi sector, positive comments from big-name investors touting the benefits of blockchain technology and DeFi appear to be lifting sentiment throughout the sector.

Currently, Bitcoin price is still struggling to reclaim the $38,000 level and according to Cointelegraph analyst Marcel Pechman, top traders may have added to their short positions as BTC rallied toward $38,000 on Feb. 3.

Daily cryptocurrency market performance. Source: Coin360AAVE vs. MKR vs. COMP percentage growth 4-hour chart. Source: TradingView daily chart. Source: Coin360

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