The surge in UNICODE, MATIC, & AAVE Follows a Bitcoin Price Bounce Back Above $20K

With the exception of Aave, all equities other than Bitcoin, Uniswap, Polygon, and Aave have turned green in a single day.

On July 14, crypto investors celebrated as the market had a successful trading session just one day after the Consumer Price Index (CPI) revealed a June reading of 9.1%, its highest level since 1981.

Following the most recent CPI figures, seasoned traders have become accustomed to a one- to two-day rebound in asset prices. These traders are also aware that there’s nothing to get too worked up about because the rebounds have generally been followed by more downside once individuals understand that the high inflation reading is a negative development.

Nonetheless, the return of greenery to the market has been welcomed after a promising year in 2022.

The top performers over the previous 24 hours were Uniswap (UNI), Polygon (MATIC) and Aave (AAVE), according to data from Cointelegraph Markets Pro and TradingView.

Uniswap, the world’s most popular decentralized exchange by volume, hit a low of $5.23 on July 13, up from its all-time low of $6.07 the day before. Following a record 104 percent increase in trading volume to $449 million, the token rose 36% to reach a daily high of $7.11 on July 14 amid an overall 28 percent price increase.

UNI/USDT 4-hour chart. Source: TradingView

UNI’s sharp drop in price and trading volume is due to the popular platform Robinhood announcing that the UNI token is now available for trade, opening up a large number of new buyers who do not use other cryptocurrency exchanges.

The success of Disney news has provided a boost to MATIC Polygon is one of the leading layer-two scaling solutions for the Ethereum network, providing a faster, less expensive transaction experience for users and protocols. On July 13, following a brief dip to $0.52, the price of MATIC climbed 36% to peak at $0.707 on July 14 on the back of a 120 percent increase in its 24-hour trading volume.

After the price of ‘INTIMATE’ rose, DISNEY announced that the protocol was chosen by the corporation to be a part of its 2022 Accelerator Program, making it the only blockchain eligible for such recognition.

Aave is optimistic about stablecoin progress With TVL values skyrocketing, Aave, a popular decentralized finance platform, is a lending and borrowing technology that currently has $5.63 billion in total value locked (TVL), making it the second-largest DeFi platform by TVL after MakerDAO.

The price of AAVE has risen 38.5% in the last 24 hours, according to data from Cointelegraph Markets Pro and TradingView, reaching a daily high of $93 in the afternoon hours on July 14.

Aave sparked excitement within its community on July 7 when it revealed plans to release its own GHO stablecoin, which will be a collateral-backed stablecoin that is native to the AAVE ecosystem.

The global cryptocurrency market capitalization is now valued at $927 billion, with Bitcoin’s dominance rate standing at 42.6 percent.

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