On the 18th of October, from the past 24 hours, DeFi tokens Lido Finance, Maker DAO, and Curve Finance have all gained significant gains of at least 6%. Curve Finance, a decentralized exchange for trading cryptocurrency, was up nearly 7% over the past 24 hours.
In the last hour of the 17th of October, CRV, also known as Curve Finance, was the second-leading gainer among the top hundred cryptocurrencies by market capitalization. According to CoinMarketCap, as of the 18th of October, it is now trading at $0.9, with a 116% increase in trading volume to $77.33 million. Despite today’s spectacular gains, CRV is down 94.1% from its all-time high of $15.37, which was in August 2020.
Maker, the DAO token has also gained over 5% in the last 24 hours. Maker, who is also responsible for creating and maintaining the decentralized stablecoin DAI, is trading at around $1,078 as of the 18th of October. Maker, the 55th-largest cryptocurrency, boasts a market capitalization of $966.6 million.
Lido Finance’s native token LDO has gained over 6.4% in the last 24 hours, and it is trading at around $1.50 as of the 18th of October. Now the DeFi token is enjoying a market capitalization of nearly $469 million, but it is down 79% from its all-time high.
According to data from Coinglass, Maker DAO leads this batch’s token liquidations with $719,460, while CRV stands second with $423,390 over the past 24 hours. According to DefiLlama, the Total Value Locked on Ethereum has increased by 1.03% to $54.17 billion over the past 24 hours.
After the U.S. CPI report last Thursday, all financial markets, including crypto, entered a sluggish phase. There is high inflation across the globe and in the United States, which could increase the interest rates by another 75 basis points. It will result as hinders investors’ interest in high-risk assets like stocks and cryptocurrencies.