Binance’s DeFi index crashes 60% as Bitcoin overshadows altcoins

(BTC) resurgence is continuing to sap capital from the altcoin markets as other cryptocurrencies are struggling to catch up to BTC.

The DeFi Composite Index, first launched by Binance Futures in late August, is seeing its second month of strain, trading down from its all-time highs of close to $1,200 to under $400, a decline of roughly 60%.