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Major DeFi tokens were the first to see the market turn green as they posted substantial gains in the past day. The crypto roller coaster continues to ride, as the market rebounded into the green zone Thursday morning. Blue-chip tokens like Aave, Uniswap and Curve outperformed the rest of their peers.

The native token of the cryptocurrency lending platform , AAVE, reached a daily high today of $81.31 at 8:01 AM. The price of the token fell to $78.87 at press time, but it has risen a substantial 9.7% in the past 24 hours according to data from CoinMarketCap.

After presenting a governance proposal to launch GHO, the platform’s own stablecoin, Aave was in the news.

Aave is a digital asset lending and borrowing platform that runs on the Ethereum Blockchain. AAVE, the platform’s token is currently 44th in market capital and has a market cap exceeding $1.09 billion.

UNI, which is the token behind the decentralized exchange Uniswap has also seen a 11.4% increase over the day. It currently changes hands at $6.31 according to CoinMarketCap.

AAVE and UNI have seen a remarkable uptick in their value over the last week, rising 24% and 15% respectively.

According to CoinMarketCap, CRV is up 7.8% in the past 24 hours. It reached $1.05 for the highest daily price, but then retraced to $1.02 at press time.

Investors in CRV are also pleased by the latest price action, as the token has returned to its June 10th trading levels.

Bitcoin has only 0.03% gain over the same period. After news that U.S. Inflation had reached a new four decade high of 9.1%, the leading cryptocurrency plunged to 19,000 on Wednesday. However, it quickly rebounded above $20,000 to temporarily ease investors’ worries.

According to CoinMarketCap, Bitcoin was trading at $20,000 as of the time this article was written.

Ethereum, which is the second-largest cryptocurrency in the industry by market capital, is currently up 1.2% and trading at $1,089.

The post Bull Run Despite Market Sell off for DeFi Tokens Aave, Uniswap and Curve first appeared on The Daily Encrypt.


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Angie Byrd