UNI, AAVE, and MATIC Soar as Bitcoin Bounces Back Beyond $20K

Bitcoin, Polygon, Aave, and Uniswap went green, a day following the highest CPI data in more than 40 years.

Crypto enthusiasts found something to cheer on 14 July as digital assets recorded optimistic trading sessions only one day after the CPI (Consumer Price Index) saw a June increase of 9.1, the highest value since 1981.

The upside actions within the marketplace weren’t entirely new for seasoned investors who have been used to a 1 to 2-day asset price rebounds after recent CPI releases. Moreover, they know they shouldn’t feel too thrilled, with rebounds typically witnessed more declines after individuals admit high inflation data is a negative facet. However, the green prices present a relief following 2022’s rough start.

Data from TradingView and Cointelegraph Markets Pro shows Polygon (MATIC), Aave (AAVE), and Uniswap (UNI) led the gainers within the past 24 hours.

Robinhood Lists Uniswap (UNI)

The leading DEX (decentralized exchange) by volume, Uniswap, witnessed its native coins surging on 13 July following the $5.23 lows. The alternative token has since gained 36% towards the 14 July high at $7.11, following a 104% 24hr trading volume increase to $449 million.

The swift turnaround in UNI’s trading volume and price comes as Robinhood, a recognized brokerage firm, declared listing UNI tokens on its platform. That exposes the altcoin to massive buyers who do not have trading accounts with other crypto exchanges.

Disney News Boosts MATIC

Polygon is among the leading layer2 Ethereum scaling solutions offering low-fee and faster transaction experience for protocols and users. TradingView and Cointelegraph Markets Pro data shows MATIC gained 36% after briefly plunging to the 13 July $0.52 lows, touching the $0.707 daily peak on 14 July as its 24hr trading volume noted a 120% surge.

MATIC’s price surge comes after announcements that Disney selected the blockchain for the 2022 Accelerator Program.

Stablecoin Developments Have AAVE Rallying

Aave, a well-known DeFi network, is a borrowing & lending protocol, currently boasting $5.63 billion in TVL (total value locked), ranking second after MakerDAO in DeFi networks by TVL. The previous day saw AAVE gaining 38.5% towards the 14 July high of $93 from the $67.10 lows.

Aave triggered enthusiasm within the community on 7 July when it declared plans to introduce its GHO stablecoin.