Six decentralized finance (DeFi) assets are rising at the fastest pace after more than doubling their value in just seven days.
At the beginning of the package is 88mph (MPH), a protocol that allows users to lock in fixed-rate interest on crypto assets.
MPH increased by 291.6% in one week. The DeFi platform alone climbed to an all-time high of $ 189.68 after popular trader and crypto influencer Elliot Wainman put the token ahead of 189,000 YouTube subscribers.
MPH has since corrected from this high and is currently trading at $ 150.96, according to CoinGecko.
Another cryptocurrency gaining at a high speed is the Rari Management token (RGT). The token powers Rari Capital, a DeFi protocol that aims to provide users with the best efficiency based on their risk appetite. Users can deposit funds into three pools that allow them to earn returns based on various protocols and strategies.
In the same period, the value of RGT increased by 198.5%. The coin is currently at $ 1.71.
Perpetual protocol and others
The next cryptocurrency that has increased its valuation more than 2 times is the Perpetual Protocol (PERP). The decentralized perpetual contract trading platform allows users to place long or short bets on assets like Bitcoin (BTC), Ethereum (ETH), gold and crude oil with up to 20x leverage.
CoinGecko shows that PERP increased by 141.3% in seven days. The value of the DeFi asset currently stands at $ 4.89, down 11.8% in the past 24 hours.
Curve DAO Token (CRV) is another cryptocurrency that has more than doubled in value after gaining 122% with the same output. CRV is the management token behind Curve, a decentralized exchange that allows users to trade stablecoins for low fees.
CRV is currently trading at $ 1.35, down 11.4% over the last day.
Decentralized application Cream Finance (CREAM) joined the list with a gain of 121.6%. CREAM is a multipurpose DeFi protocol that allows users to borrow, lend, exchange and bet tokens to earn rewards.
CREAM’s value was $ 161.78, down 18% in the last 24 hours.
Badger DAO (BADGER) closed the list after rising 104.5% in a week. Decentralized autonomous organization (DAO) creates products and infrastructure designed to accelerate the use of Bitcoin as collateral on all DeFi platforms.
BADGER is trading at $ 14.95, down 5.7% on the day.