Decentralised finance is something that has attracted the attention of a lot of investors and one of the companies in the sector that could be worth tracking at this point is DeFi Technologies Inc (OTCMKTS:DEFTF). Over the course of the past month, the DeFi Technologies stock has emerged as a major mover amidst heavy interest and clocked gains of as much as 118% during the period.
One of the more important triggers for the rally in the stock came about earlier on this month on August 9 when the company announced that it inked a letter of intent with regards to the acquisition of the entirety of the outstanding and issued securities in the company DeFi Yield Technologies Inc.
The possibility of this acquisition has made the DeFi Technologies stock the point of focus for a large number of investors and it might be a good move to keep an eye on the stock over the coming days. The acquisition of DeFi Yield could also prove to be a significant acquisition for DeFi Technologies. DeFi Yield is a privately held firm but it has developed its own automated yield engine that makes it simpler and more efficient for people to invest in decentralised finance.