With the surge in the DeFi sector, it has been seen that most of the tokens are showing an impressive surge. One of the famous tokens, Aave hits an all-time high and reached $288.90. It has been seen that from the past few weeks, Aave has been performing quite well. The analysts have claimed that the major reason behind this surge is the recent rally in the DeFi sector due to its deemed future. By the starting of 2021, the Aave price was at $83, which is showing a huge surge in token price.
Chainlink Hits All-Time High of $25
However, it is not only Aave that has hit an all-time high. As the DeFi sector’s roadblocks clear major other DeFi tokens have also increased very impressively. Chainlink hits an all-time high as the price has surged by 15% in the last 24 hours. LINK token now hit $25.45, which has increased its market capitalization to $10 billion. Along with other DeFi tokens, Chainlink has also seen impressive growth, which means that it is going along with the surge in the DeFi sector.
Monday, January 25, 2020, has proved to be highly bullish for the whole DeFi sector. Along with Aave and Chainlink, Uniswap has seen an increase of 30#. Uniswap hits an all-time high and reached $13.05. The short-term analysis for Uniswap is indicating an impressive surge in price.
The Surge in Flash Loans
Analysts have claimed that the major reason why Aave hits an all-time high is the recent growth in flash loans. It has been seen that ever since the flash loans are launched, it can gain more than $1.7 billion issuances. The firm is expecting that this number will keep on increasing along with the progress in the crypto market. Not only the DeFi sector, but the whole crypto market is also highly bullish at the moment and analysts believe this rally seems to continue further.