Saturday, December 3, 2022

DEFI Tokens Surge By Double Digits As BTC, ETH Mount Recovery

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The DEFI tokens surge by double digits as both BTC and ETH mount recovery with the rest of the crypto market being on the rise as well so let’s read more today in our altcoin news.

The DEFI tokens surge by double-digits such as Uniswap, and Anchor Protocol leading the way. UNI as the governance token of the decentralized trading protocol Uniswap increased by 10% to a daily high of $8.08 and is now trading at $7.86 as per the data from CoinMarketcap. With a market cap above $5.4 billion, UNI is now the industry’s 26th biggest asset but is still a long way from the all-time high of $44 recorded at the start of May 2021. ANC the native token of the Terra ecosystem app called Anchor Protocol is on the rise with the price jumping 14.5% over the past day so the token is trading near $1.96 at the time of writing last seen ten days ago.

btc price
BTC 24-hour Price Chart (Source: Coingecko)

According to the data provided by DeFi Llama, Anchor boasted more than $17.2 billion in total value locked which makes it the third biggest project in the dEFI space. Somewhere else, RUNE is the token behind Thorchain or a Cosmos-based cross-chain platform that allows users to swap cryptos from different networks without a centralized intermediary jumping by about 13% to an intraday high of $7.75. It shed some of the gains and now trades at $7.19. Thorchain suffered a multi-billion hack last year and to button up the security, the team behind the proejct announced an update this week for the bug bounty program on Immenfi and doubled the payout to white hat hackers from $500,000 to $1 million.

CRV is the Curve Finance protocol governance token and has soared up 8.98%in the past day and is now trading at $2.58. AAve is up by 6.82% over the past day hours and is trading hands near $157. in the meantime, BTC is up 2.5% in the past day and now trades at $39,600 while ETH increased 3,984% over the same period and changed hands at $2,934.

eth daily
ETH 24-hour Price Chart (Source: coingekco)

Interest rates are going up half a percentage point but the crypto and stock markets are headed up by a bigger chunk. The crypto marekt gained 6% in the past 24 hours with the top coins ETH and BTC follow stock market around the same figure.

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