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# Despite hitting new 2020 highs, DeFi token gains in November outperform Bitcoin
- URL: https://btcpeers.com/despite-hitting-new-2020-highs-defi-token-gains-in-november-outperform-bitcoin/
- Published: 2020-12-08T08:16:27.000Z
- Updated: 2023-09-24T16:02:54.000Z
- Author: John Williams
- Tags: News, #saudu

A lot of attention has shifted to Bitcoin since its massive Bull Run to new 2020 highs. The digital asset has surged from around $12,000 to over $19,000 in the last 2 months. And just like three years ago, the predictions have started rolling in, with some analysts predicting a price of $300,000 by the end of next year.

But despite Bitcoin’s impressive run, a [cryptocurrency](https://btcpeers.com/what-is-the-best-cryptocurrency-to-invest-in/) analyst has revealed that November was a month for DeFi tokens. Industry analyst, ‘Ceteris Paribus’ broke down the gains for November by tokens, revealing that many DeFi tokens made triple gains.

> Returns from Nov 1, \~ DeFi bottom. $BTC, $ETH, $DeFi pic.twitter.com/iQCFcyhUcU
> 
> — Ceteris Paribus (@ceterispar1bus) December 7, 2020

It appears the rally of DeFi tokens is far from over. November saw the resurgence of many DeFi tokens that have otherwise been dormant. While Bitcoin recorded a monthly gain of approximately 40% (rising from $13,800 to $19,000), a DeFi project like SUSHI surged by over 300%. Meanwhile, Aave and Yearn Finance gained 200% and 160%, respectively. The other top gainers with three-figure gains for the month include RUNE, HEGIC, and BZRX.

It should however be noted that many of these DeFi tokens have had better days. They are still a long way from their all-time highs. Whereas, Bitcoin is only 4% shy from its 2017 all-time high as of press time.

In closing, the total value of locked assets (TVL) across DeFi protocols is at its all-time high, suggesting rising demand. According to Defipulse, the TVL is almost $15 billion. This is a 32% increase in November and a 2100% surged since the beginning of 2020.