Charted: Green shoots in DeFi

Don't call it a comeback.

• Meme coins are still the driving narrative among retail crypto investors, but there are early, early signs that traders might be getting interested in decentralized finance (DeFi) again.

What they're saying: Wintermute, the giant trading shop and market maker, noted in its most recent market report that some of the best meme coins are a bit down (like dogecoin and pepecoin 👆) and DeFi is a bit up (like Lido and Aave 👆).

What we're watching: The narrative might switch soon.