Decentralized finance platforms (DeFi) have been the top performers in the cryptocurrency market for this week. Initiatives such as UMA, Compound, Nexo, 1INCH and even SushiSwap are in a marked period of appreciation that has lifted the price of their tokens by more than 90%.
This is recorded by data from CoinMarketCap, which shows that the 10 best-performing tokens of the week belong to the DeFi sector, while the most popular cryptocurrencies such as bitcoin, XRP, monero or ETH have lagged far behind. UMA, also known under the term "Universal Access Marketplace", is the project with the highest revaluation in the last 7 days.
Image from Zephirnet
UMA is an open source platform for the development of smart contracts, which has become a fundamental building block for DeFi infrastructure. Since the middle of last year, UMA has gained relevance in the cryptocurrency community, but this week it surpassed all expectations after its token appreciated 178% and reached the value of $31 per unit.
ZRX, the Ox exchange's token, ranked second in price increase with a 167% increase. The price of the asset is at $1.57 by the time this note is published, maintaining a bullish forecast for today. Renowned lending platform Compound also made a spot in this week's top 10, as its COMP token appreciated by 114% by reaching the price per unit of $522.
On the other hand, the financial services platform, Nexo, also had an excellent week when its token increased its price to $1. The increase in value of this asset was 106%, according to CoinMarketCap data. The 1INCH exchange was another project whose token stood out, after it capitalized $5 per unit with a 99% increase in value.
MakerDAO, the most dominant financial project in the DeFi market, recorded one of the best prices for its MKR token, when it reached $2,764 per unit. The asset's increase is around 96% in the last seven days, and continues to rise if we take into account that for the last 24 hours it is estimated to have appreciated by more than 29%.
The LUNA token, stablecoin of the Terra porotocycle, is also part of this list with an appreciation of 91%. The SushiSwap and PancakeSwap platforms also made it to the top 10 in the last 7 days, revaluing their tokens by over 80% of their last week's price.
Aave, another giant in the DeFi community, saw its token reach $500 per unit for the day with an 80% increase. Aave is also the second decentralized finance platform with the most ethers under its control, according to data from DeFi Pulse. A market that already exceeds $35 billion under its management and continues to add new projects.
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