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- AAVE recorded an all-time high of $2901.60
- SUSH was trading at $9.78, up 12.5%
- UNI was up at $12.29
The cryptocurrencies of DeFi have shown a bull run and the coins under DeFi projects are showing the record high on the charts. The good news for the traders begins in the Sunday rally when the coins like AAVE, ETH, SUSH saw an upward trend.
Decentralized Finance (DeFi) based cryptocurrencies has shown a bullish trend and has been on a record high. The trend has been reported on Sunday in conjunction with the Ethereum rally.
According to Messari Data, among the several DeFi cryptocurrencies, Aave (AAVE) hit the record high of $2901.60. It is up 13.8% in the past 24 hours. It registered an increase of 259.8 per cent over one month against the US dollar. DeFi Pulse has recorded the total lock volume of Aave $3.88 billion.
The next coin that saw a jump is SushiSwap (SUSH), which recorded an all-time high of $9.78 and is up 12.5% in the last 24 hours. It is now trading at $8.58. The coin has surged 265% against the US dollar over a month.
Uniswap (UNI) was traded at 21.7% higher at $12.29. It hit an all-time high of 12.91 on Sunday. Another coin of DeFi Curve DAO Token (CRV) was traded 6.7% higher at $2.2. On Jan 9, it had hit an all-time high of $5.5.
Yearn finance (YFI) has shown a downward trend to 0.8%. The coin was trading at $31,734.48. It had hit an all-time high of $43,964.63 in September 2020.
Decentralized finance means the use of blockchain technology. An increased interest has been seen in the DeFi projects since last year. The coins under DeFi have shown a bull rally at a time when BTC is stagnant.
As per the DeFi Pulse data, the projects of DeFi have a total value of $26.56 billion. Ethereum (ETH) is a blockchain platform linked with DeFi projects that showed a bullish trend and hit a record high of $1,477.47. Bitcoin traded 1.9% up at $33,527.05.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
