Aave (AAVE) Overtakes UniSwap (UNI) As The Largest DeFi Crypto Token With $6 Billion Market Cap

Published by
Aave (AAVE) Overtakes UniSwap (UNI) As The Largest DeFi Crypto Token With $6 Billion Market Cap

In a massive price rally, Aave (AAVE) has surged another 12% approaching $500 levels by hitting its new all-time high. At press time, AAVE is trading 12.3% up at $489 with a market cap of $6.06 billion. With this move, AAVE has become the world’s largest DeFi crypto token surpassing giants like UniSwap (UNI).

Aave, the Ethereum-based peer-to-peer DeFi lending platform has been in news backed by some strong liquidity metrics. As per Glassnode data, along with the AAVE price, the total transaction volume for DeFi has reached a new all-time high.

The recent price rally in AAVE has helped it register the strongest gains among DeFi peers, so far in 2021. As per the Messari data, AAVE price has gained over 437% year-to-date to reach the number 1 spot. Also, AAVE is inching closer to DeFi token Maker (MKR) in terms of total-value-locked (TVL).

By the TVL metrics provided by DeFiPulse, AAVE is the second-largest DeFi crypto token after MKR with $5.35 billion total-value-locked. Thus, AAVE contributes 15.7% of the total DeFi market TVL of $34 billion.

DeFi Market Registers 300% Growth In 2021

If you have been actively following the mainstream crypto market but ignoring Defi, you have been leaving a lot of money on the table. The overall DeFi crypto market has registered explosive growth so far in 2021. As per data on Messari, the overall DeFi market cap has surged over 300% year-to-date.

In this explosive DeFi market rally, a number of Defi crypto tokens have registered staggering growth. Some of the top-performing DeFi tokens include UniSwap (UNI), Maker (MKR), SushiSwap (SUSHI), and Compound (COMP).

While Bitcoin continued its move towards $40,000, a number of Defi tokens have been decoupling with the BTC rally. Last week, a number of DeFi tokens literally doubled in price and value.

Also, with a strong rally in the DeFi market, oracle service provider Chainlink has also seen a huge surge in the price of its native LINK token. The LINK token has been dominating its place in the top ten cryptocurrencies by market cap and is currently trading near to its all-time high of $25.

On the other hand, UniSwap has emerged as the largest decentralized exchange (DEX) by trading volumes. The UNI DeFi token is currently trading around its all-time high of $19.18 but a few analysts feel that it is still undervalued.

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Justin Sun Pledges $20M Buy Following WLFI Wallet Freeze

Justin Sun Justin Justin Sun responded to World Liberty Financial freezing his wallet by promising…

September 6, 2025
  • 24/7 Cryptocurrency News

Expert Blames ‘Secret Committee’ for Rejecting MSTR Stock Inclusion to S&P 500

Michael Saylor's Strategy (NASDAQ: MSTR) missed the inclusion in the S&P 500 index on Friday,…

September 6, 2025
  • 24/7 Cryptocurrency News

MARA Bitcoin Treasury Nears $6 Billion, Trails Only Strategy in Public Rankings

MARA Holdings, Inc. announced that it now holds $5.9 billion worth of Bitcoin. This cements…

September 6, 2025
  • 24/7 Cryptocurrency News

Senate Banking Committee Releases Updated Draft Crypto Market Structure Bill

The U.S. Senate Banking Committee has released an updated version of the draft Crypto Market…

September 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor’s Strategy Fails To Make S&P 500 Listing, MSTR Stock Drops

Strategy, led by Executive Chairman Michael Saylor, has been left out of the latest S&P…

September 6, 2025
  • 24/7 Cryptocurrency News

Solana Treasury Company SOL Strategies Gets Approval To List On Nasdaq

SOL Strategies Inc. has received approval to be listed on the Nasdaq Global Select Market.…

September 6, 2025