In many cases, the rebranding efforts are prompting a surge in token prices not seen since the peak of the Bitcoin bubble in late 2017. The market value of Tron’s TRX coin, which is tied to a new DeFi token called Sun Genesis Mining, jumped by $800 million in the three days after the announcement of the new coin.
DeFi has been the hottest thing in crypto the past year. DeFi apps are supposed to let people lend, borrow, trade and take out insurance directly from each other, without use of intermediaries like banks.