- We have seen the leading cryptocurrencies reach their all-time high in the last 24 hours. These coins recorded double digit gains. Even more impressive, there are several DeFi cryptocurrencies that have grown over 300% since the beginning of 2021.
We have seen the leading cryptocurrencies reach their all-time high in the last 24 hours. These coins recorded double digit gains. Even more impressive, there are several DeFi cryptocurrencies that have grown over 300% since the beginning of 2021.
— Bloqport Insights (@Bloqbot) February 4, 2021
SUSHI at the top of the DeFi industry
The highest return was observed by SUSHI, with a 438% return since the beginning of the year and at the time of writing it is trading at $ 15.33.
SUSHI’s upward trajectory began after the release of its roadmap that includes a new lending solution called Bento Box, as well as Miso contracts where anyone can lend and boot a liquidity project.
The protocol is collaborating with developers in the Yearn ecosystem, and many expect Tier 2 to be released on SushiSwap soon.
AAVE rose so hard
Another cryptocurrency returning significantly above average was AAVE, which has increased 374% since the beginning of January and 35% in the last 24 hours alone.
The rise of AAVE to $ 425 occurred as whales or addresses holding more than 1000 tokens jumped to 327 in the past month.
As demand for decentralized exchanges continues to grow, Uniswap’s native token UNI has grown 301% since the beginning of the year, and the coin is currently trading at its all-time high of $ 21.47.
Despite the high GAS fees currently prevalent on the DEX, Uniswap remains the dominant position as data from Google shows that search volume for Uniswap has returned to its highest level since September 2020.
The DeFi Pulse index exceeded $ 100 million in market value, and DeFi tokens have shown that they have an important role in driving this crypto bull run.
Traditional finance is now catching up with this new wave of finance, according to Santiago R Santos, one of Parafi Capital’s partners. One of the executives of the bank described DeFi as follows:
“It’s like we’ve got a slice of cheese and the little mice are gnawing at it. One day we will wake up and they will have eaten the whole piece. We need to act now. ”