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UNI, SUSHI, MKR, Defi Tokens See 24 Hour Double-Digit Gains, Defi TVL Jumps 6% in 2 Weeks

While a number of popular crypto-assets like bitcoin have been consolidating, decentralized finance (defi) tokens have captured significant gains during the last 24 hours. A few defi crypto assets have seen double-digit gains and the leader of the pack is Uniswap which has jumped 20.9% in the last 24 hours.

Uniswap’s Defi Token leads the percentage gains on Sunday

Decentralized finance tokens (defi) tokens have been gaining more than many of today’s most well-known digital assets.

While bitcoin (BTC) has risen 2% today and ethereum (ETH) is up over 3%, crypto tokens like uniswap (UNI) and sushi (SUSHI) have seen double-digit gains. Uni has jumped over 20% during the last day while SUSHI is up 15.6%.

UNI, SUSHI, MKR, Defi Tokens See 24 Hour Double-Digit Gains, Defi TVL Jumps 6% in 2 Weeks — UNI token versus the U.S. dollar on Coinbase on September 26, 2021.

Both UNI and SUSHI are followed by coins like maker (MKR) up 11.5%, ftx token (FTT) up 10.6% today, and chainlink (LINK) which has risen 10.3% on Sunday. Uniswap (UNI) has a $12.1 billion market valuation today and around $1.1 billion in global trade volume.

FTT has a market valuation of around $6.8 billion and $869 million in global trades. LINK’s market cap on Sunday is $11.4 billion with $1.8 billion in 24-hour trade volume. UNI, SUSHI and FTT are followed by celer network, okb, theta fuel, TFUEL and serum (SRM).

Defi Total Value Locked Spikes 6% in 2 Weeks, Terra’s 7-Day Defi TVL Surges

On September 10, 2021, metrics from defillama.com indicated that the aggregate total value locked (TVL) in def across a myriad of chains was around $163 billion. On Sunday, September 26, the aggregate total value locked in defi is $174. 39 billion which is an increase of 6. 987% in just over two weeks.

In the past 24 hours, the entire defi TVL has increased by roughly 0.74%. Curve.fi is the dominant platform among the decentralized apps (dapps), which make up the whole defi TVL, with 7. 78% of the aggregate.

As far as the defi TVL on Ethereum there’s $124. 31 billion on September 26, which is an increase of 2. 53% in a single day. However, the Ethereum defi TVL during the course of the trailing seven days has shed 5.76%. The Binance Smart Chain (BSC) TVL on Sunday is roughly $15. 92 billion and up 0. 05% today.

Seven-day stats show BSC has lost 13. 57% of the blockchain’s TVL held in defi. Solana (SOL) has seen a weekly dip in TVL as well, losing 12. 27% of its TVL value in seven days with an aggregate total of around $8. 83 billion. Terra saw a 7-day jump as it rose 7. 30% to $8. 51 billion.

What do you think about the recent surge in defi coin values and the defi TVL increasing over 6% since September 10? Please let us know your thoughts on this topic in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Coingecko, Defillama, Tradingview,

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Fed Report Explores How Crypto Price Changes Affect Ownership

A report by the Federal Reserve Bank of Philadelphia’s Consumer Finance Institute found that cryptocurrency ownership declined during market downturns, despite price increases in bitcoin. Data from multiple surveys showed that crypto interest and ownership did not rise, even as prices surged. The report suggests further research into consumer behavior in response to market fluctuations [……
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Bitcoin

The Open Network (TON) to launch teleport Bitcoin bridge

The Open Network announces plans to launch a bridge to get Bitcoin onto the TON blockchain, The bridge will allow Bitcoin to be used for DefI purposes in the TON ecosystem. The TON Foundation announced that the Open Network will launch a trustless bridge to allow people to bridge Bitcoin into the TON ecosystem for…

The Open Network announces plans to launch a bridge to get Bitcoin onto the TON blockchain,
The bridge will allow Bitcoin to be used for DefI purposes in the TON ecosystem.

The TON Foundation announced that the Open Network will launch a trustless bridge to allow people to bridge Bitcoin into the TON ecosystem for DeFi purposes. The bridged Bitcoin, called Teleport BTC, will maintain the original Bitcoin’s security while allowing holders to take advantage of the growing opportunities on TON.

According to the Foundation, each Teleport BTC will be backed 1:1 by native Bitcoin via a trustless, transparent process chiefly executed by verifiable smart contracts and validators.

This new development aims to “enhance Bitcoin’s utility, transforming it into a powerful tool for generating additional rewards on TON.”

TON’s Growth in 2024

The Open Network, closely linked with the popular Telegram messaging app, has been on an upward climb in 2024 both in price and network development. The network was initially created by the Telegram team for internal use but was abandoned and eventually picked up by the community.

TON made major waves after Telegram re-established contact by using the network to power its ad reward system, which pays channel owners in TON (the network’s native cryptocurrency) for traffic and views.

Outside of Telegram, TON is making a name for itself as a social gaming chain with tap-based casual projects like Notcoin and Hamster Kombat garnering attention.

TON’s Growing DeFi Ecosystem

While TON is not primarily known as a network for decentralised finance, its DeFi ecosystem has witnessed a boom in recent months. According to Defillama, a leading on-chain finance data provider, the total value locked on TON currently stands at $745.96 million as of writing after rising significantly from $22 million at the end of February 2024.

The Open Network plans to launch the Teleport BTC bridge later this year.

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First ETP for Near Protocol’s NEAR token unveiled on Sweden’s Spotlight Stock Market

Valour’s NEAR ETP will be available on Sweden’s Spotlight Stock Market. Valour currently operates one of the largest Solana ETPs. The crypto fund issuer also operates Bitcoin, Ether, and Internet Computer ETPs. Crypto fund issuer Valour today announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR. This groundbreaking ETP will be…

Valour’s NEAR ETP will be available on Sweden’s Spotlight Stock Market.
Valour currently operates one of the largest Solana ETPs.
The crypto fund issuer also operates Bitcoin, Ether, and Internet Computer ETPs.

Crypto fund issuer Valour today announced the launch of an exchange-traded product (ETP) for Near Protocol’s native token, NEAR.

This groundbreaking ETP will be available on Sweden’s Spotlight Stock Market, offering retail and institutional investors the opportunity to gain exposure to the decentralized application development platform.

NEAR ETP joins Valour’s diverse portfolio of ETPs

Valour already operates one of the largest Solana ETPs, Valour Solana, and offers a suite of staking products, including ETPs for Bitcoin, Ether, and Internet Computer.

Valour’s head of product, Elaine Buehler, emphasized the significance of this new fund, highlighting its potential to grant investors access to an asset renowned for its transformative impact on decentralized finance (DeFi) and non-fungible tokens (NFTs).

Near Protocol, designed to tackle common blockchain development challenges such as user onboarding and multi-chain operations, boasts a market capitalization of approximately $6.8 billion. This positions NEAR among the top 20 digital assets globally, according to CoinMarketCap.

The launch of NEAR ETP comes amid a wave of regulatory approvals in the United States, where investment managers BlackRock, Franklin Templeton, and VanEck recently received preliminary approval to list the first exchange-traded ETH products. Analysts predict this move will pave the way for more crypto exchange-traded products in the US, including potential Solana-based ETFs.

Valour’s parent company, DeFi Technologies, currently manages around $600 million in assets across various crypto-native strategies.

On July 16, DeFi Technologies expanded its footprint by acquiring trading desk Stillman Digital in an all-stock deal. This acquisition is expected to significantly enhance the Canadian crypto platform’s capabilities, potentially positioning it as a formidable competitor to larger entities like Galaxy Digital.

Valour’s new NEAR ETP represents a significant advancement for investors seeking exposure to innovative blockchain technologies, reinforcing the firm’s position at the forefront of digital asset investment products.