This altcoin is pushing the top 10 as Chainlink tries to reach new heights

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With the Bitcoin rally hitting the pause button, the decentralized financial sector has finally gotten its moment to shine.

After Aave (AAVE) and Uniswap (UNI) gained 14.97 percent and 7.54 percent respectively in the past 24 hours, they are close to the top 10 highly-admired on crypto ranking website CoinMarketCap.

Two DeFi lovers managed to overtake EOS, which was starting to recover after Dan Larimer suddenly left Block.one earlier this month. They are also ahead of leading cryptocurrencies such as Tezos (XTZ), Monero (XMR) and Tron (TRX).

UNI, the native token of the automated market maker Uniswap, exceeded $ 10 in tokens distributed during the surprise airdrop in September.

A market of 25 billion dollars

The growth of the DeFi industry has been something extraordinary over the past year. In late January 2020, the total value locked down in various decentralized finance protocols was just under $ 1 billion. According to the data provided by DeFiPulse, this figure is well over $ 25 billion.

The Ethereum-based lending protocol MakerDAO keeps the DeFi crown valued at $ 4.5 billion locked, but a large number of competitors are following it. Aave, Compound and Uniswap overshadowed $ 3 billion.

Chainlink reaches new heights

Chainlink (LINK) is also one of the hottest cryptocurrencies right now.

Chainlink reached its all-time high on January 15th for the first time since August 2020. Bitcoin’s weakness didn’t stop LINK from going higher, and the oracle token reached another all-time record of $ 25.5.

One of the possible catalysts behind these explosive moves could be asset manager Grayscale, who adds a new token-linked trust.

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