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As crypto markets rallied to kick off the new year, a handful of DeFi’s subsectors are outperforming. Liquid staking derivatives (LSDs) have been big winners, with Lido’s TVL jumping a third, to $7.8B, since Jan. 1. Another sector, perpetual futures — a derivative that behaves like a futures contract but doesn’t expire — is now spiking, too.
It was a long time coming. The NFT space, suffering with collapsed prices and questionable utility, received a much needed jolt in the arm on Jan. 10. A gaming company released a set of smart contracts designed to dramatically expand the tokens’ capabilities.