DeFi Tokens Jump Double Digits as Bitcoin, Ethereum Mount Recovery

Several decentralized finance (DeFi) tokens, including Uniswap (UNI) and Anchor Protcool (ANC), posted double-digit gains in the last 24 hours.

UNI, the governance token of the decentralized trading protocol Uniswap, rose nearly 10% to a daily high of $8.08 and is currently trading at $7.86, according to data from CoinMarketCap.

With a market cap above $5.4 billion, UNI is now the industry’s 26th-largest asset, however, is still a long way from the all-time high of $44 recorded at the beginning of May 2021.

ANC, the native token of the Terra ecosystem’s popular app called Anchor Protocol, is also on the rise as its price jumped 14.5% over the past day. The token is trading around $1.96 at the time of writing, levels last seen ten days ago.

According to data provided by DeFi Llama, Anchor boasts more than $17.2 billion in total value locked (TVL), which makes it the third-largest project in the DeFi space.

DeFi tokens, Bitcoin, and Ethereum

Elsewhere in DeFi, RUNE, the token underpinning Thorchain, a Cosmos-based cross-chain platform that lets users swap cryptocurrencies from different networks without centralized intermediaries, also jumped by more than 13% to an intraday high of $7.75.

It has since shed some of those gains and is now trading at $7.19.

Thorchain suffered several multi-billion hacks last year. To button up security, the team behind the project announced an update this week for its bug bounty program on Immunefi, doubling the payout to white hat hackers from $500,000 to $1 million.

 Decrypting DeFi

We Need to Talk About Terra's Anchor

Decrypting DeFi is Decrypt's DeFi email newsletter. (art: Grant Kempster) Maybe you’ve already heard of Anchor Protocol, Terra’s most popular DeFi app. You may have even decided to deposit your bag of idle stablecoins and rake in that sweet 19.46% “stable” yield. Or, like many others, you’ve never heard of Anchor (and now you’re too afraid to ask what it is). Terra has become pivotal to the Terra ecosystem (specifically UST stablecoin). So, first things first: What is it? Anchor, Terra's most po...

CRV, the governance token for the Curve Finance protocol, has meanwhile soared up 8.98% in the last day and is currently trading at $2.58, per CoinMarketCap.

AAVE, the governance token of the decentralized lending protocol Aave, is up 6.82% over the past 24 hours and is trading hands near $157 by press time.

Meanwhile, Bitcoin is up 2.5% in the last day, currently trading at $39,600, while Ethereum rose 3.984% over the same period, changing hands at $2,934.