The DeFi market exploded independently of Bitcoin (BTC) last year, creating the so-called DeFi Summer of 2020, sparked by emerging stakes and stocktaking options.

Despite the recent price correction, cryptocurrencies that offer different profit mechanisms are on the rise and the hype of “Yield Farming” could drive up the prices of these cryptocurrencies, replaying the scenario of last summer.

DeFi coins are on the rise:

The emergence of countless new DeFi projects and the increasing popularity of the sector was followed by abundant investment support as the market capitalization of the sector is currently over $73 billion.

The DeFi sector continues to grow, while the prices of “Yield Farming” DeFi are rising across the board, raising the market capitalization of this sector by 23.65% over the seven-day period to nearly $15 billion.

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Providing liquidity via cryptocurrencies is becoming increasingly attractive to decentralized protocols, which in return reward users who want to bring capital to their platforms, also known as “Yield Farming.”

Synthetix Project (SNX), a crypto platform that enables the creation of on-chain synthetic assets (Synths) that track the value of assets in the real world.

The SNX cryptocurrency witnessed a noticeable rise, as it was valued on July 3 at $7.27, rising to $11.23 at the time of writing this article.

Aave (AAVE) is another lending protocol and is one of the well-known DeFi projects. The digital currency of this project has seen a 34.17% rise over the same period, while its competitor and credit lending and borrowing platform Compound (COMP) has increased its coin price by 59.59% in 7 days past.

The digital currency SUSHI is also present in the recent rally of decentralized finance coins, with its price increasing by 20% in the last 7 days.

Institutional Investors and Decentralized Finance:

During a “Blockworks” webinar, Aave project management recently confirmed its plans to launch “Aave Pro,” which is set to run authorized groups that have passed Know-Your-Customer (KYC) protocols, eliminating one of the major obstacles facing regulated organizations, And it allows it to dive into the DeFi sector.

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The “Yield Farming” protocols offer an attractive alternative to the low traditional banking interest rates, which will inevitably attract institutional investors to the DeFi sector.

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