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DeFi Tokens, UNI, AAVE and CRV Post Double Digits Gains, will the Rally Extend? 

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VOC, Voice of Crypto, DeFi tokens

As the broader crypto market has finally managed to turn green, several blue-chip DeFi tokens like UNI, Aave and Curve have posted significant price gains over the past day.

UNI Jumps by 11.48%

UNI, the governance token of the decentralized trading protocol Uniswap, has surged by over 11.48% to a daily high of $6.32 and is currently changing hands at $6.30. 

With a market cap above $6 billion, UNI is currently the industry’s 19th-largest asset. But, it is still down by 86% from its all-time high of $44 recorded at the beginning of May 2021.

Uniswap is an ETH-based decentralized exchange (DEX) that connects buyers and sellers directly. When a cryptocurrency makes advancements, it usually impacts its usefulness and accelerates its adoption, which can be an ideal investment time. 

Aave Continues to Shine

AAVE, the native token of the crypto lending platform Aave, has also tapped a hefty price gain of over 9.10% in the last 24 hours.

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It is presently hovering at $78.96 with a market cap of $1B. Following this massive price spike, the trading volumes have also increased by 73.22%. 

Recently, Aave announced the launch of its own stablecoin, GHO. Following the most horrifying Terra collapse, the Defi platform Aave touts numerous ways to protect GHO from a collapse. The collateral posted for GHO will be varied across numerous crypto. It also hosts features like risk prevention, restricting the amount of stablecoin that can be minted to avoid a de-peg.

AAVE and UNI have also witnessed price surges over the past week, jumping 24.62% and 14.30%, respectively.

Curve Rides the Bullish Wave

CRV, the governance token for the Curve Finance protocol, has also soared in value by 9.69%. It currently trades at $1.03 with a 24-hour trading volume of $0.2M, up by nearly 67.60% 

CRV was among the best performing cryptocurrencies on 6 July after posting a 10% gain, pushing it as high as $0.99. This price tag was roughly up by 72% from $0.53, its lowest price level in 2022. 

Other Defi Tokens, Bitcoin and Ethereum 

Avalanche is also up by 3.22%, priced at around $17.99 with a 24-hour trading volume of $691M, up by 78.60%

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 RUNE, the native utility token of the THORChain platform has also increased in value by 2.05%, to an intraday high of $2.15

Meanwhile, Bitcoin continues to struggle at the $19,737 level,

Ethereum also rose by 1% in the last 24 hours and is now changing hands at $1,084.

 

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Krutika is an experienced Crypto News writer and Technical analyst. With over 3 years of extensive crypto knowledge, she has written on various subjects, including Price analysis, Whitepapers, Metaverse, and other crypto-related topics.

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