By Omkar Godbole (all times ET unless stated otherwise)

DeFi coins are in the spotlight as bitcoin (BTC) and ether (ETH) notch modest gains ahead of Tuesday's big jobs revisions data from the Bureau of Labor Statistics, which are expected to reveal a much weaker job market in the year ended March 2025.

Usually, weak jobs data means more Fed rate cuts — and that’s bullish for BTC. But there’s more to the story: BTC might be king, but it doesn’t yield anything. That’s where decentralized finance comes into the play, offering returns on idle coins through lending and borrowing protocols. This makes DeFi coins all the more attractive as rate-cut bets heat up.

Arthur Hayes, founder of Maelstrom, nailed it: “DeFi will get some of this cash searching for yield.” He pointed to Ethena’s sUSDe to

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