Divergent Altcoins? Pumping Despite Bitcoin's Decline

News • 2021/01/27 • by
remitano

These decentralized finance (Defi) cryptocurrencies are doing very well in the market, not minding Bitcoin's current stagnation.

Some have seen a growth of up to 37-75% very recently, an impressive feat in a heavily influenced market by crypto's poster child.

Major Signals

  • Aave has gained by over 45% recently, and its price stands at $289 currently.
  • Uniswap has also seen an increase of 67%, and it's price currently is over $15.
  • MIR, RAMP & BOND have also been experiencing an increase in this period of BTC decline.

This week was marked by a lot of volatility in the bitcoin price chart. Many bitcoiners seemed to hold their breath as Bitcoin plunged roughly 10% and retested the $30,000 support level, even dipping as low as the $29,000 level.

But some altcoins have surprisingly been bullish. We have picked out some of them below:#

Aave(AAVE): Pool-based lending protocol, Alpha Finance (ALPHA) 's native token, has gained by over 45%. At the beginning of the year, its price stood at $83 but currently stands at $289.

Its trading volume also rose from $200 million on the 3rd of January to over $1 billion now. Its Total Value Locked (TVL) increased from $2.03 billion at the start of the year to currently sit at $3.75 billion. It has risen to the 15th-largest crypto asset by market cap.

Uniswap(UNI): Uniswap's decentralized exchange token rose 67% in the past seven days and is now trading at $15.06.UNI token has gained 335% from October of last year and reached a new all-time high at $15.35 yesterday.

It's TVL also reached a new high at $3.16 billion. It's trading volume also reached a new all-time high at $1.3 billion on the 11th of January this year. In the past 24hours, it's trade value stood at $768.36. It is currently the 13th largest cryptocurrency by market capitalization.

Other Lesser-known but notable altcoins include:

  • Bainbridge(BOND): This is designed to split crypto investment opportunities according to their various risk levels. BOND rose by nearly 75% just last week. It is currently trading at $49.47and is the 219th-ranked crypto asset by market cap.
  • Mirror Protocol(MIR): This is a governance token for the company it is named after. It is designed to create fungible assets to track the price of real-world assets. It saw an increase of 70% just last week too. It is trading at $3.40 and is ranked 157th by market cap.
  • RAMP is also up by 37% in the past seven days and is trading at $0.29.
Comments (13)
Guest
atikarani14
6 years ago
Good
jalansultan
6 years ago
⭐⭐⭐⭐
bellagita_
6 years ago
Nice
paulsmith2018
6 years ago
Very informative.
visiblemoney
6 years ago
Very amazing to see impressive performance with Aave, Uniswap, BOND etc despite the plunge in prices of top coins in the crypto market.
nurhotimah
6 years ago
Good information 👍
jenny50
6 years ago
Informative
okem1988
6 years ago
Good
tessier122
6 years ago
Nice
igwe1994
6 years ago
Nice

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