Decentralized finance continues to provide a buzz as its adoption grows and grows. A good list of DeFi tokens are also giving good news for those who store them.
The bullish rally that we are seeing of the main tokens of this sub-ecosystem is strongly pushing the total value locked in DeFi protocols, currently it is $ 25.43 billion according to data from DeFi Pulse.
Next I will be doing a brief analysis of the 3 largest DeFi tokens. Stay and read this post if you are interested in knowing where they are going.
Chainlink, the largest among DeFi tokens
With a market capitalization of over $ 9.6 billion, LINK is the largest token in the decentralized finance space.
At the time of this writing Chainlink is trading at $ 24.07, accumulating a gain of 1.17% in the last 24 hours and 18.53% in the last 7 days.
Yesterday this token managed to mark a new all-time high at $ 25.45, and despite the fact that today we are seeing slight bearish intentions, it is most likely that the current momentum seeks to extend a little more.
At the moment the odds for LINK are on the bullish side, thanks to trends clearly in the hands of the bulls. As you comment on the current momentum, you may want to look for another all-time high in the next few hours, before wanting to make any correction.
UNI from Uniswap, ranks 3rd among DeFi tokens. Before comes WBTC, a token that represents Bitcoin on the Ethereum chain.
While this publication is being written, UNI is trading at $ 10.39, developing like LINK a momentum that seems to have some way to go.
The current price is signifying an all-time high on various exchanges. At the moment most of the odds are on the bullish side, and we may see new highs in the next few hours before the bulls sell out.
The platform’s governance token for decentralized lending, AAVE, is also performing exceptionally, accumulating gains of more than 800% from November 2020 to today.
Currently the price of AAVE, occupying the 4th place among DeFi tokens, is $ 238.10, a price that also signifies a new all-time high.
The short-term trend of this token is unmistakably bullish, and the current momentum is showing no signs of exhaustion yet. You will most likely see a continuation to the upside for the next few hours or even days.
A pullback in the near future will be nothing more than a break from the bulls, and a search for demand from those who take advantage of discount prices to climb back in favor of the trend.
All our publications are informative in nature, so in no case should they be followed as investment advice.