On July 26, a new sense of optimism returned to the cryptocurrency industry, as Bitcoin rose beyond $39,000, sparking a market-wide spike in DeFi tokens, which saw double-digit gains. Top DeFi Tokens See Double-Digit Gains: According to TradingView data, the biggest movers in the last 24 hours have been Amp (AMP), Venus (XVS), and Reserve Rights (RSR). Five of the top seven gainers are from the decentralized finance (DeFi) sector, which might indicate that DeFi is gearing up for another big run in 2021. AMP/USD Amp (AMP), a digital collateral token technology that provides immediate, verifiable guarantees for any type of value transfer, has been the best performer over the last 24 hours. According to TradingView data, after reaching a low of $0.048 on July 25, the price of AMP rebounded 96% to an intraday high of $0.094 on July 26 as its 24-hour trading volume increased more than 800% from an average of $20 million to $280 million. Venus (XVS) A Binance Smart Chain-based algorithmic money market and synthetic stablecoin technology, also witnessed a big breakthrough today. As seen in the chart above, the price of XVS increased by 63% from a low of $17.13 on July 25 to an intraday high of $27.95 on July 26 as its 24-hour trading volume increased by more than 600% to $180 million. According to the most recent Venus statistics, the protocol presently has more than $3 billion in total value locked on the platform and more than $1.8 billion in accessible liquidity. AAVE At press time, Aave, a high-interest crypto savings service, had gained 16.8 percent. According to DeFi Pulse, the protocol is also the most valued, with a market capitalization of $11.58 billion. The AAVE coin functions as a governance token, allowing users to propose changes to protocol features. RSR/USD Reserve Rights (RSR), a dual-token stablecoin platform comprised of the Reserve stablecoin (RSV), which is backed by a basket of assets managed by smart contracts, and the RSR token, which helps to keep the price of RSV stable through a system of arbitrage opportunities, was the third-biggest gainer on Monday. Before the current price increase, VORTECS data began to indicate an optimistic prognosis for RSR on July 24. The VORTECS Score is an algorithmic assessment of historical and present market circumstances based on a variety of data sources such as market mood, trading volume, recent price changes, and Twitter activity. The VORTECS Score for RSR became green on July 24 and soared to a peak of 76, about 28 hours before its price increased by 45% the next day, as seen in the chart above. The fee increase followed a protocol change on July 24 that allowed app users to “deposit and withdraw money on Saturdays and Sundays from 6:00 am to 6:00 pm.” Regardless, all of the positive developments across the boarding point to a resurrected Bitcoin. When the orange currency moves, so do everything else, including DeFi, since it controls 45% of the $1.5 trillion crypto market.
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