DeFi Tokens Jump Double Digits In Crypto Market Rebound

On Friday, the crypto market appeared to be in the green and there were a number of decentralized finance (DeFi) tokens that were recording some solid gains.

CRV goes up

According to data from CoinMarketCap, decentralized exchange Curve’s governance token, which is called CRV, recorded gains of 15.58% in the last 24 hours.

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This saw the token reach a monthly high of $1.56 before it came down to $1.49 at the time of writing. It is currently the 62nd largest cryptocurrency, as it boasts a total market cap of about $770 million.

The project recently received praise from Delphi Digital’s analysts, who highlighted that the execution prices of Curve V2 were better than that of Uniswap V3.

This was applicable in the case of 65% of the transaction volume of ETH/USDT. This is surprising because gas prices for the Curve protocol are almost twice as high as that of Uniswap.


Lido Finance’s LDO token also climbed by 1.11% for the day and CoinMarketCap data showed that it is trading at $2.24.

Decentralized network Chainlink’s token called LINK also saw an increase of 12.34% in the last 24 hours. It managed to record a daily high of $7.75, which it had last hit on June 11th.

That was when the crypto market had been going through one of its numerous freefalls in 2022. Thanks to a market capitalization of about $3.6 billion, the LINK token is the 23rd largest crypto.

At the time of writing, the token was trading at a price of $7.66. The positive price movement comes after Chainlink recently released its ‘Adoption Update’, which highlighted a number of new integrations in the last week.

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According to the updates, different products like Chainlink Price Feeds, Chainlink VRF and Chainlink Keepers had been integrated across almost eight chains.

These included some prominent names like BNBChain, Harmony, Avalanche, Solana, Polygon, Ehereum, Optimism and Fantom.

More DeFi tokens

The token that powers popular decentralized exchange Uniswap, UNI also saw a rise of 7.8% in 24 hours, as it was trading at $8.86.

According to CoinMarketCap data, the UNI had come down from its three-month high level seen on Thursday evening at $9.74.

Elsewhere, there were other DeFi tokens that had also recorded gains for the day. These include Maker (MKR), 1INCH, and Synthetix, which recorded gains of 9.4%, 7.7%, and 9.4%, respectively.

The benchmark crypto, Bitcoin also saw gains of 4.3% for the day and was trading at a value of $23,955 at the time of writing.

There was also a 6.2% gain in the price of Ethereum, which saw it reach $1,722. The rebound in the crypto market is considered a positive sign.

The same had also been seen last week, which many had assumed to be the end of the decline, but markets had fallen once more.

However, the crypto market received a boost after the Fed’s announcement of an interest rate hike of 75 basis points in its monetary policy meeting on Wednesday.