🦄 Recap: DeFi Week of May 21

Hello Defiers! It’s a long weekend in the U.S. and the U.K., and the unofficial, start of summer in the Northern Hemisphere, so we hope you’re all unwinding after two bruising weeks in the crypto markets. Summing up: The watchwords this week were recovery and optimism, as in the worst of the May crash subsided. The total market cap for the cryptocurrency market did slide 3.7%, to $1.75T, as of Friday, according to data from CoinGecko. But that’s way better than the 20% plunge during the prior seven-day period. Some DeFi coins showed resilience — Polygon, which we wrote about this week, notched a 4% jump, and Uniswap was also up 4%.

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