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Altcoin Rising 280 Percent In One Month Reached ATH!

The price of UNI, the local governance token of the decentralized finance (DeFi) platform Uniswap, reached its all-time high of $ 14.40 about 1 hour ago, according to crypto measurement platform CoinGecko. However, the altcoin could not maintain this level.

 

At the time of writing, the UNI dropped back to the $ 13.92 level, an increase of 9.6% on the day. The token's price increased by a total of around 60% in one week, and its market cap exceeded $ 4 billion. The monthly return of the altcoin price is over 280%.

Market value is obtained by multiplying the current price of an asset by its total supply. This is a metric for comparing multiple coins with different offerings. It ranks second among the best DeFi tokens in terms of market cap, right after UNI's ongoing price rally, according to CoinGecko's data . Even outside of the DeFi tokens area, UNI's performance is admirable - it currently ranks thirteenth among all cryptocurrencies in terms of market capitalization.

Are DeFi and altcoin prices booming again?

Since booming last summer, the DeFi ecosystem has been one of the best performing crypto markets so far. According to the analysis platform Messari, the only two sectors green in terms of recent market capitalization increases are DeFi and decentralized exchanges (DEX). These increased 17.6% and 23.2%, respectively, last week. By contrast, the overall cryptocurrency industry, including Bitcoin, fell 12%.

DeFi's market cap exceeded $ 45 billion amid the ongoing price rally. UNI and AAVE are among the top 10 DeFi tokens showing the best results.

 

Messari researcher Ryan Watkins pointed out that unlike many other projects in the industry that are "obsessed" with dividends, UNI does not charge liquidity providers. He argued that while the valuation potential is important to tokens, the earning potential is not the same as for dividends.

 

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