The best loan protocols of DeFi tokens, AAVE, Maker, and Compound take center stage as they set all-time highs.
Moving from DeFi tokens
As Bitcoin (BTC) and Ethereum (ETH) prices traded horizontally throughout the day, several DeFi token prices were seen to break on February 4th.
Along with the general upward trend penetrating the DeFi industry, positive comments from major investors citing the benefits of blockchain technology and DeFi seem to raise sentiment across the industry.
Currently, Bitcoin price is still struggling to reclaim the $ 38,000 level, and top traders may have moved to short positions as BTC rose to $ 38,000 on February 3, according to analyst Marcel Pechman.
Elon Musk made waves again as his “DOGE” tweet resulted in a sharp volume increase that sent Dogecoin (DOGE) to a 48% rally at $ 0.054. XRP price also rose by 12.45% to $ 0.4365.
Universal Market Access (UMA) saw its price hit a new all-time record at $ 44.25 before recovering to its current value of $ 33.13, booming 158%. The decentralized exchange liquidity provider 0x (ZRX) also rose 70% from $ 1.35 to a new 2021 high.
DeFi lending platforms AAVE, Compound (COMP) and Maker (MKR) set their all-time highs, with prices up 46.68%, 36.6% and 22.69% respectively.