DeFi tokens are the biggest losers in April 2022

DeFi tokens are the biggest losers in April 2022, memecoin marked outstanding profit :

April month shows not so exciting trends for DeFi coins. Bitcoin struggled to recover throughout the month but due to Russia- Ukraine war and taxation of different governments whole crypto market couldn’t show uptrend.

Last month was not all bad for every crypto coins, memecoins like Doge and Shiba INU shown upward rally and decentralized finance (DeFi) based coins AAVE, RUNE marked big losses.

Bitcoin closed the month at 17% loss, DeFi sector’s coin marked 34% average loss. According to experts the main reason behind downfall of DeFi coins is to withdrawal of funds from DeFi platforms.

April month also not so good for Cryptopunk, Ethereum based hot NFT collection cryptopunk lost the craze and settled down to third rank while Ape yacht club snatched the second position from the cryptopunk and gained $2 billion capitalization.

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