DeFi Blue-Chip Tokens Aave, Uniswap, Curve Post Fresh Gains
The crypto roller coaster sees no end as the overall market bounced back into the green zone on Thursday morning, with decentralized finance (DeFi) blue-chip tokens such as Aave, Uniswap, and Curve significantly outperforming the rest of the pack.
AAVE, the native token of the cryptocurrency lending platform Aave, hit a daily high of $81.31 in the early hours today. Although the price of the token slid to $78.87 by press time, it is still up a hefty 9.7% over the past 24 hours, according to data from CoinMarketCap.
Aave made headlines last week after coming forward with a governance proposal for the launch of GHO, the platforms own stablecoin.
Aave, which runs on the Ethereum blockchain, is used to lend or borrow digital assets without a centralized intermediary. The platforms token, AAVE, is currently the 44th largest cryptocurrency with a market cap of over $1.09 billion.
UNI, the token behind the popular decentralized exchange Uniswap, has also gained 11.4% over the day and is currently changing hands at $6.31, data from CoinMarketCap shows.
Both AAVE and UNI are boasting an impressive uptick in value over the past week too, jumping 24% and 15%, respectively.
Curve hits one-month high
Meanwhile, CRV, the token behind the decentralized exchange Curve, is up 7.8% over the past 24 hours, as it hit the daily high of $1.05 before backtracking to $1.02 by press time, according to CoinMarketCap.
The latest price action is also a welcome development for CRV investors as the token returned to the levels it last traded on June 10.
Elsewhere, Bitcoin is up just 0.03% over the day. The leading cryptocurrency fell sharply to 19,000 on Wednesday following the news of U.S. inflation hitting a new four-decade high of 9.1%; however, it swiftly bounced back above $20,000 to temporarily allay investors’ concerns.
At the time of writing, Bitcoin was trading just below the $20,000 level, per CoinMarketCap.
Ethereum, the industrys second-largest cryptocurrency by market cap, is meanwhile up 1.2% over the past day, changing hands at $1,089.
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