While the crypto market has been experiencing a considerable rough patch, metaverse platforms have enjoyed substantial growth due to increasing interest from companies and venture capitalists in building the future.
Despite the newfound dominance of these metaverse platforms, some DeFi protocols have emerged as the best-performing projects of Friday, November 25th.
One of the top gainers is the Ethereum-based decentralized payment system, Request Network (REQ), gaining 190% in value in 24 hours. Over the past five days, the price of REQ has risen by more than 310%.
At its highest point, REQ set a 90 day high of $1.02. At the time of this writing, REQ has settled at $0.82378.
The five day price chart for Request Network (REQ). Source: Tradingview
pTokens (PBTC), a network tool which allows BTC to be used on the Ethereum network, doubled its price in mere hours, capturing an additional 100% of its value, the price of PBTC shot up from $28,045.34 to $58,075. At the time of writing, PBTC is now trading at $52,394.91.
The seven day price chart for pTokens (REQ). Source: Coinmarketcap
The third top-performing DeFi protocol on November 25th is the Compound Basic Attention Token (CBAT), an autonomous interest rate protocol.
In the last 24 hours, CBAT has raked in gains of more than 65%, pushing its price up from $0.02311 to a new all-time high of $0.03819. CBAT has since seen sharp corrections, and is now trading at $0.02777.
The seven day price chart for Compound Basic Attention Token (CBAT). Source: Coinmarketcap
On the Flipside
- Despite rallying by more than 60%, the price of CBAT is down 26.5% from its recently recorded ATH.
Why You Should Care
Crypto sectors are now rallying on an individual basis, not only as a collective, indicating a decline in Bitcoin’s dominance over the crypto market’s trends and general performance.