Alex Dovbnya
DeFi unicorns come to the fore, surpassing EOS (EOS) and Monero (XMR)
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- A niche market of $ 25 billion
- Chainlink isn’t tired of reaching new heights
After the Bitcoin rally hit the pause button, the decentralized financial sector finally has the moment to shine.
Aave (AAVE) and Uniswap (UNI) are moving closer to the coveted top 10 on crypto ranking website CoinMarketCap, after adding 14.97 percent and 7.54 percent, respectively, in the past 24 hours.
The two DeFi darlings have managed to beat EOS, whose recovery was brought to its knees by the sudden departure of Block.one’s Dan Larimer earlier this month. They are also ahead of such well-known cryptocurrencies as Tezos (XTZ), Monero (XMR) and Tron (TRX).
Image from coinmarketcap.com
Not that UNI, the native token of the automated market maker Uniswap, exceeded $ 10. The tokens issued during the surprise flight in September would now be worth more than $ 4,000.
A niche market of $ 25 billion
The growth of the DeFi sector over the past year has been nothing short of spectacular. At the end of January 2020, the total value set in various decentralized financial protocols was just under $ 1 billion. According to DeFiPulse, that number is now well over $ 25 billion.
Image from defipulse.com
The MakerDAO Ethereum-based credit protocol is keeping its DeFi crown valued at $ 4.5 billion, but numerous competitors are taking its breath away. Aave, Compound, and Uniswap all dwarfed $ 3 billion.
Chainlink isn’t tired of reaching new heights
Chainlink (LINK), the token behind the decentralized Oracle middleware of the same name, is currently also one of the hottest cryptocurrencies.
As reported by U.Today, on January 15, Chainlink hit a new all-time high for the first time since August 2020. Bitcoin’s weakness didn’t stop LINK from going higher, and the Oracle token hit another lifetime high of $ 25.5 on January 23 at 9.48pm UTC on the Binance exchange.
Image from tradeviewview.com
One of the possible catalysts for these explosive measures could be the asset manager Grayscale, which is bringing in a new trust in the token.
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