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The cryptocurrency market displays bullishness, with Bitcoin (BTC) steadying beyond $51.5K. Meanwhile, enthusiasts have shifted focus to segments like decentralized finance (DeFi), where venture capital company Maven11 Capital has stolen the show with significant returns.
Maven11 Capital(@Maven11Capital) is currently making $1.43M(+54%) as #DEFI token prices rise.
— KingData (@KingData_com) February 25, 2024
He bought 100K UNI($574K) at $5.74 from #Binance and sold at $11.2, making $546K(+95%).
Bought 899 MKR($1.32M) at $1,469, currently making $500K(+38%).… pic.twitter.com/JSXi19JgWf
Maven11 Capital nets significant returns on DeFi market revival
Maven11 Capital has seen success in its venture into the decentralized finance industry. The VC firm saw its returns skyrocketing to $1.43 million, a substantial 54% surge.
The company made a strategic move by investing in DeFi tokens, which have seen remarkable recoveries lately. Maven11 Capital purchased tokens Frax Share (FXS), Aave (AAVE), Maker (MKR), and Uniswap (UNI), which have soared noticeably in the ongoing broad market recovery.
DeFi market resurgence
The decentralized finance space has been revitalized lately, with related tokens surging to new-year highs. Maven11 Capital benefits from the trend, and FXS, AAVE, MKR, and UNI jumped over 43%, 58%, 38%, and 95%, respectively.
Uniswap leads the upside
UNI has recorded notable price surges lately, contributing to the surges seen in DeFi coins. The altcoin gained 82% on its 30-day price chart to trade at $10.67 during this writing.
The upswing follows Uniswap’s latest proposal to reward stakers and token holders. With the new model, the project will distribute network fees among investors who delegate and stake their UNI coins.
The proposal triggered bullishness on the Uniswap ecosystem, leading the massive surge in UNI prices.
Uniswap is a renowned decentralized exchange with a significant influence in the decentralized finance sector. Glassnode’s report signals increasing total value locked (TVL) for the DEX, suggesting soaring optimism within the DeFi market.
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