Even though there is much excitement in the cryptocurrency space, many assets will not see a new all-time high for a while. For example, the following top DeFi tokens are all at least 50% removed from their ATH. It will require significant market momentum to turn that ship around.
Although 2020 and early 2021 seemed to favor Chainlink price momentum, the popular DeFi token has hit a snag in recent months. LINK lost over 10% in the past month and is now 50.8% removed from its all-time high value. Nevertheless, the current price of $26 is still respectable, although a return to $53 seems rather unlikely. However, stranger things happen in the cryptocurrency space regularly.
As one of the leading DeFi protocols on the Ethereum blockchain, Aave has performed relatively well to achieve a high Total Value Locked. However, the value of AAVE as a DeFi asset has dwindled for some time now. Last month’s 18.4% decline isn’t helping matters, as the all-time high is now 55.2% away. It will be interesting to see if AAVE can surpass $600 again, although that will likely take a while.
The project offers a new digital collateral token that provides instant and verifiable collateralization through the AMP asset. It is a popular DeFi asset, as it has a market cap of $2.23 billion. Unfortunately, it has lost 59.7% in value since hitting its all-time high. Not the best of momentum, although its monthly performance of -3.54% is better than any other asset on this list.
Maker DAO (-60.4%)
Since the inception of DeFi, Maker DAO has successfully maintained a leading industry position. The issuance of DAI as an algorithmic stablecoin has been a big plus, although it seems Maker DAO is running out of steam. A monthly loss of 13.3% pushes the all-time high 60.4% away. Moreover, Maker Dao is outside the market cap top 50 now and may fall outside the top 75 unless something happens relatively soon.
The community behind THORChain is still as enthusiastic as ever. Unfortunately, that is insufficient to make the market head in the right direction. Similar to all other DeFi assets, RUNE has a terrible monthly performance (-26.3%_ and is 64.1% from its all-time high. None of this is insurmountable in the cryptocurrency landscape, yet it remains unclear if RUNE can see its all-time high again in the foreseeable future.
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