Decentralized finance tokens have held up well against Bitcoin amid a down market, with Bitwise suggesting DeFi “is quietly re-rating” as institutions move on-chain.

Bitwise says DeFi tokens are outperforming Bitcoin as protocols like Aave generate near $900M in revenue, driving a quiet fundamental re-rating of the

Decentralized finance tokens have held up well against Bitcoin amid a down market, with Bitwise suggesting DeFi “is quietly re-rating” as institutions move on-chain.