Aave Outperforms DeFi Blue Chips with 119.3% Yearly Price Increase

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Key Takeaways

  • Aave's price rose by 119.3% year-over-year, the largest increase among other DeFi giants.
  • Lido, considered the largest DeFi protocol, showed a 38.4% year-over-year decline.
  • Uniswap was second only to Aave in price growth for the year, with a 48.1% increase.

Aave’s price increase in the past month was 21.8%, the best performance among the blue-chip protocols in decentralized finance (DeFi).

Traditionally, the blue chips of DeFi include Lido (LDO), Aave (AAVE), Maker (MKR), and Uniswap (UNI). These protocols rank in the top 10 based on total value locked (TVL).

Other notable protocols, such as EigenLayer, JustLend, and Ether. fi are not yet considered DeFi blue chips because they do not have their tokens.

Protocol rankings by TVL in DeFi | Source: DeFiLlama

Aave Leads the DeFi Blue Chips in Performance

According to data from CoinGecko, Aave has led in year-over-year price appreciation, with a surge of 119.3%.

Additionally, AAVE’s price increase of 21.8% over the past 30 days was the highest among the DeFi blue chips.

 

Coin 7 days 30 days 1 year
Lido DAO (LDO) -3.3% -7.9% -38.4%
Aave (AAVE) -9.6% 21.8% 119.3%
Maker (MKR) -7.3% -23.3% 15.2%
Uniswap (UNI) -2.4% 6.4% 48.1%

It’s also noteworthy that Uniswap was the second-best performer. UNI’s price rose by 6.4% in the past month and 48.1% over the year.

This strong performance comes despite Uniswap’s $4.27 billion TVL, the lowest among the DeFi blue chips.

Lido Leads in TVL but Struggles in Performance

Lido remains the largest DeFi protocol by TVL, holding $22.7 billion. In comparison, the second-largest Aave has $11.2 billion in TVL.

However, Lido’s performance has been negative. Over the past month, LDO’s price dropped by 7.9%. Year-over-year, the coin’s value has plummeted by 38.4%.

LDO price in 1 year | Source: CoinGecko