Defi

Uniswap

DeFi

Chainlink

Defi Tokens: In a notable shift in the crypto market’s focus, <a href="https://coingape.com/crypto-vc-makes-50-returns-defi-tokens-surge/" rel="noopener noreferrer nofollow">DeFi</a> (Decentralized Finance) assets have begun to recapture attention amidst the burgeoning AI craze. According to a recent analysis by Santiment, a leading crypto analytics firm, prominent DeFi tokens such as UNI (Uniswap), COMP (Compound), SUSHI (SushiSwap), and AAVE have experienced significant spikes in value. This surge can be directly attributed to a critical proposal by Uniswap aimed at rewarding its users who stake and delegate their tokens.
The proposal has sparked renewed interest in the DeFi sector, highlighting its potential for innovation and growth independent of central financial authorities. As per coinmarketcap, the DeFi crypto market cap stands at $88.97 Billion, a 23.80% increase since yesterday.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b8.png" alt="💸" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/DeFi?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#DeFi</a> has taken some of the spotlight from the <a href="https://twitter.com/hashtag/AI?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#AI</a> craze. Assets that enable users to lend, borrow, or exchange <a href="https://twitter.com/hashtag/crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#crypto</a> without a central authority like <a href="https://twitter.com/search?q=%24UNI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$UNI</a>, <a href="https://twitter.com/search?q=%24COMP&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$COMP</a>, <a href="https://twitter.com/search?q=%24SUSHI&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SUSHI</a>, and <a href="https://twitter.com/search?q=%24AAVE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$AAVE</a> all spiked in value following a key <a href="https://twitter.com/hashtag/Uniswap?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Uniswap</a> proposal to reward staked and delegated token… <a href="https://t.co/xnxWivoX9R" rel="noopener noreferrer nofollow">pic.twitter.com/xnxWivoX9R</a>
 — Santiment (@santimentfeed) <a href="https://twitter.com/santimentfeed/status/1761124824263655655?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 23, 2024</a>
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The momentum traders looking for a new entry opportunity can keep an eye on DeFi tokens like UNI, AAVE, and LINK.
Also Read: <a href="https://coingape.com/bitcoin-etfs-crypto-stocks-lose-steam-amid-these-key-developments/" rel="noopener noreferrer nofollow">Bitcoin ETFs &amp; Crypto Stocks Lose Steam Amid These Key Developments</a>
<h2 id="b-uniswap-price-recovery-fueled-by-governance-innovations-b">Uniswap Price Recovery Fueled by Governance Innovations</h2>
<figure style="width: 100%" class="wp-caption alignnone"><a href="https://coingape.com/trending/top-reasons-why-uniswap-price-is-soaring-today/" rel="noopener noreferrer nofollow"><img decoding="async" src="https://s3.tradingview.com/snapshots/i/ibFtzlPx.png" alt="BINANCE:LINKUSDT Chart" width="1946" height="937"></a>
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 Uniswap Price| Tradingview
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<a href="https://coingape.com/trending/top-reasons-why-uniswap-price-is-soaring-today/" rel="noopener noreferrer nofollow">UNI</a>, the native token of decentralized trading protocol Uniswap emerged as one of the highest weekly gainers among the top 100 coins by market cap. On Friday, the coin price witnessed a massive inflow of nearly 80% which propelled the assets from $6.9 to $12.6.
This price surge is attributed to a proposal by UF Governance Lead @eek637 to revamp Uniswap’s governance system by rewarding staking and delegating <a href="https://coingape.com/uniswap-uni-76-mega-rally-might-be-over-amid-likely-team-selloff/" rel="noopener noreferrer nofollow">UNI token</a> holders, aiming to boost community participation and the effectiveness of governance.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f508.png" alt="🔈" class="wp-smiley" style="height: 1em; max-height: 1em;"> New Governance Proposal Posted <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f508.png" alt="🔈" class="wp-smiley" style="height: 1em; max-height: 1em;">
 UF Governance Lead <a href="https://twitter.com/eek637?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@eek637</a> just posted a proposal to upgrade Uniswap Protocol's governance system. Specifically, this upgrade would reward UNI holders who have staked and delegated their tokens.
 — Uniswap Foundation (@UniswapFND) <a href="https://twitter.com/UniswapFND/status/1761029569983971567?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 23, 2024</a>
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In addition, the analysis of the daily time frame shows the current recovery to assist in the formation of a rounding bottom pattern. This chart pattern signals the start of a new bull run after the asset has been through a long accumulation.
Currently trading at $11.18, the <a href="https://coingape.com/price/uniswap/" rel="noopener noreferrer nofollow">Uniswap price</a> is likely to challenge the pattern’s neckline resistance at $12.5. A breakout above this neckline could amplify the recovery momentum and target $21.
Also Read: <a href="https://coingape.com/markets/uniswap-technical-analysis-hints-the-55-price-is-beginning/" rel="noopener noreferrer nofollow">Uniswap Technical Analysis Hints the 55% Price Surge is Just the Beginning</a>
<h2 id="b-key-resistance-breakout-signal-aave-price-rally-beyond-100-b">Key Resistance Breakout Signal AAVE Price Rally Beyond $100</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/n/nybvlX3Y.png" alt="BINANCE:AAVEUSDT Chart " width="1946" height="937">
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 AAVE Price| Tradingview
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Amid the broader market sentiment, the AAVE price entered a sustainable recovery trend in the second week of February. The positive turnaround surged the token from $82.2 to the current trading price of $99.76, registering 21% growth.
Moreover, Binance recently announced on X (formerly Twitter) that Aave, the top DeFi money market protocol, has integrated with the BNB Chain ecosystem. This partnership grants BNB Chain users access to Aave’s premier lending services and improved liquidity, with FDUSD providing strong liquidity from the outset.&nbsp;
This integration is pivotal for expanding DeFi access and has coincided with a notable increase in Aave’s token price, reflecting the market’s positive response to Aave’s expansion and the potential for increased usage and liquidity within the BNB Chain ecosystem.
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 1/ Today, we're thrilled to announce that <a href="https://twitter.com/aave?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@aave</a>, the largest DeFi money market protocol, has officially joined the BNB Chain ecosystem.
 Let's dive into the details and explore these exciting developments. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/SVevNFA8bG" rel="noopener noreferrer nofollow">pic.twitter.com/SVevNFA8bG</a>
 — BNB Chain (@BNBCHAIN) <a href="https://twitter.com/BNBCHAIN/status/1760665956844437522?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 22, 2024</a>
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With an intraday gain of 5.5%, the AAVE price provides a decisive breakout from the last swing high resistance of 97.8%. If the coin price shows sustainability above this level, the price will chase the potential target of $117.
Also Read: <a href="https://coingape.com/warren-buffetts-berkshire-hathaway-makes-1-billion-crypto-move-this-stock/" rel="noopener noreferrer nofollow">Warren Buffett’s Berkshire Hathaway Makes a $1 Billion Move On This Crypto Stock</a>
<h2 id="b-reversal-pattern-sets-chainlink-price-to-chase-30-b">Reversal Pattern Sets Chainlink Price to Chase $30</h2>
<figure style="width: 100%" class="wp-caption alignnone"><a href="https://coingape.com/trending/top-reasons-why-uniswap-price-is-soaring-today/" rel="noopener noreferrer nofollow"><img decoding="async" src="https://s3.tradingview.com/snapshots/i/ibFtzlPx.png" alt="BINANCE:LINKUSDT Chart " width="1946" height="937"></a>
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 Chainlink Price| Tradingview
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The current consolidation in the crypto market took a significant toll on the <a href="https://coingape.com/markets/chainlink-price-prediction-as-bullish-pattern-leap-to-23/" rel="noopener noreferrer nofollow">LINK coin</a> as the price entered a new correction from the $20.8 mark. The reversal has tumbled the coin value 11.25% within two weeks to currently trade at $18.47.
However, an analysis of the daily chart shows, that the falling <a href="https://coingape.com/price/chainlink/" rel="noopener noreferrer nofollow">Chainlink price</a> retested the recently breached resistance of cup and handle pattern. Amid the DeFi sector boost, the LINK price rebounded from $17.56 support with a morning star candle.
The reversal at key support reflects the renewed buying interest among traders during market dips. With sustained demand, the LINK price is poised to change the potential target of $30.
The post <a href="https://coingape.com/markets/top-3-defi-tokens-to-invest-feb-end-uni-aave-link/" rel="noopener noreferrer nofollow">Top 3 Defi Tokens to Invest Before February End; UNI, AAVE, LINK</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Top 3 Defi Tokens to Invest Before February End; UNI, AAVE, LINK

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