NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Here’s Why Aave’s LEND Is Up 30% in the Past 24 Hours: DeFi Craze

Nick Chong
Nick Chong
5 years ago
2 mins read
Ethereum Aave

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Decentralized finance — better known as “DeFi” — is back in style once again. This segment of the cryptocurrency market has been surging higher once again, with tokens pertaining to the space gaining dozens of a percent in a day. This comes as Bitcoin and Ethereum, the crypto market leaders, have stagnated a few percent below their year-to-date highs.

One of the best-performing DeFi tokens of the past 24 hours is LEND, the native governance token of the Aave protocol. Aave is one of the largest Ethereum-based protocols, with more than $500 million worth of value locked in its contracts.

Related Reading: “Rich Dad Poor Dad” Author: Bitcoin Could Soon Become the “Fastest Horse”

Why Aave Is Up 30% in the Past 24 Hours

LEND set a new all-time high on Wednesday, surging over 30% to a price in excess of $0.45.  This means that since the start of the year, the asset has gained in excess of 2,000%.

Chart of LEND's price action on Binance since the launch of Yam (around 18:00 on the left side of the chart) from TradingView.com

The DeFi token’s price performance on Wednesday was spurred by the launch of Yam Finance. Yam is an experimental DeFi protocol whose native token is YAM.

How this pertains to LEND is that the only two ways one can obtain YAM are: 1) buy it from Uniswap or other exchanges, or 2) deposit any of eight Ethereum-based crypto assets into Yam, then receive YAM over time. The eight Ethereum-based crypto assets that Yam supports are COMP, LEND, LINK, MKR, SNX, WETH, YFI, and ETH/APML Uniswap v2 LP tokens.

Because not everyone owns the eight aforementioned cryptocurrencies, those that wanted to obtain YAM had to acquire the coins, LEND included.

Related Reading: Crypto Tidbits: Bitcoin Explodes Past $11k, Ethereum 2.0 Nears, Cardano’s Shelley Launches

Just Bull Market Things

Not only is Yam’s effect on DeFi tokens crazy but so is the price of YAM itself.

As of this article’s writing, the price of YAM trades for $120. This means that the cryptocurrency has a fully-diluted valuation in excess of $500 million just a day after its launch.

Many commentators in the cryptocurrency space have noted that such wealth generation events only occur in crypto bull markets. After all, in what other markets can hundreds of millions of dollars worth of value be spun out of code?

Related Reading: How U.S. Restrictions on Wechat & Other Chinese Brands Could Boost Crypto
Featured Image from Shutterstock
Price tags: lendusd, lendbtc
Charts from TradingView.com
Here's Why Aave's LEND Is Up 30% in the Past 24 Hours: DeFi Craze
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin aproape de 120.000$ – vine un nou ATH?

După ultimul ATH de la mijloc de august, când Bitcoin a atins 124.500$, a urmat o corecție ce a venit...

antonio 7 hours ago
Ethereum

Ethereum (ETH) Mirrors 2021 Price Action As Bulls Target $10,000 By 2026

Ethereum remains one of the most controversial tokens in the present market cycle, considering its status as the second-largest cryptocurrency...

Semilore Faleti 11 hours ago
altcoins, bull run, altseason, trump crypto, crypto verwachting

Altcoins trekken miljarden na Fed cuts – altseason staat voor de deur

Nu bekend werd gemaakt dat de Federal Reserve renteverlagingen door gaat voeren, vonden er een aantal interessante ontwikkelingen plaats binnen...

Lars Diederiksen 12 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

Bitcoin Price On The Verge Of Explosive Move: Here’s The Only Condition

Opeyemi Sule 3 hours ago
Ethereum

BlackRock Leads Spot ETH ETF Inflows With Over $500M, Ethereum Possibly On Track To $5,000

Scott Matherson 5 hours ago
Ethereum

Ethereum Taker Buy-Sell Ratio Falls Critically Low—What Happened Last Time?

Opeyemi Sule 7 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    1 day ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    1 day ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    1 day ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.