Cryptocurrency NewsDeFi

COMP and UNI Hit All-Time Highs as DeFi Total Value Locked Reaches $27.6 Billion

With every passing day, the cryptocurrency industry has been gaining constant growth and success. In recent years, the cryptocurrency industry in general experienced all-time highs. The industry managed to hit the only milestone of gaining mainstream success and adoption that it had lacked since the start.

Now that the industry has managed to gain mainstream success, all the cryptocurrencies are seeing all-time highs and dramatic growths. One of the most essential and widely adopted products introduced by the cryptocurrency is decentralized finance (DeFi). In just a matter of a year, the DeFi sector has gained a lot of adoption and its total value locked (TVL) is skyrocketing.

On January 30, 2021, it was reported that two of the major assets on the DeFi platform gained all-time highs. The name of the first asset is Compound (COMP) while the other one is Uniswap (UNI). Since the beginning of the year, both assets have reported constant gains and rally with respect to their prices.

Although the DeFi sector has been experiencing a parabolic rise with respect to its value and adoption, the sector has gained enormous success right from the beginning of the running year.

As the DeFi industry is constantly fired up, COMP and UNI are also gaining a lot of rallying and adoption. According to the reports, the price of COMP soared and for a brief amount of time, it traded at $340. On the other hand, the price of UNI also soared and experienced all-time highs at $19.93.

According to the stats, the entire DeFi sector has been gaining constant growth over the last 30 days. The sector has been displaying a strong upward trend and the TVL for the sector has also risen to all-time highs.

The statistics show that on January 2, 2021, the total value locked for the decentralized finance sector was $16.43 billion. By January 30, 2021, the total value locked for the decentralized finance sector has soared all the way up to $27.67 billion.

According to the majority of the analysts, the recent surge in the price and TVL for the DeFi sector is the result of one major factor. The DeFi industry recently announced the release of a new governance module. Apart from the governance module, the DeFi sector has also upgraded its platform to comp. vote interface.

With the help of the comp. vote interface, the community members can now save up on gas fees by voting by signature. They no longer have to do it through on-chain transactions. Another major factor is that the decentralized finance industry has become more attractive after the recent debacle of the Robinhood platform.

It was recently reported that Robinhood had halted the trading ability for the GME and AMC stocks through their platform.

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