DeFi has steadily grown in prominence over the previous yr thanks largely to the robust foundations established by decentralized exchanges (DEX) that allow quick access to the newest tokens and initiatives. 

Whereas there have been earlier iterations of DEX consumer interfaces, comparable to IDEX or Etherdelta, it wasn’t till Uniswap launched that buying and selling within the DeFi community actually took off and facilitated the launch of the finance tokens.

Listed here are six of the top-performing tokens within the decentralized finance sector.


Uniswap has risen from the standard beginnings of a easy consumer interface that allowed for a token swap between two ERC-20 tokens, to a quickly evolving DeFi centerpiece that now sees a mean each day buying and selling quantity of $1 billion and $3.95 billion price of liquidity locked on the protocol.

Uniswap liquidity and 24-hour quantity. Supply: Uniswap

Initially the Uniswap platform operated with no native token and charges that have been collected went right into a liquidity reserve, however the challenge carried out a shock airdrop to platform customers and liquidity suppliers following the launch of the rival SushiSwap (SUSHI) platform which provided the identical interface as Uniswap on the time but in addition included the SUSHI governance token.

Following its launch and subsequent itemizing on a number of prime exchanges, UNI shortly spiked above $7.00 earlier than correcting as little as $1.93 on Nov.4.

UNI/USDT 4-hour chart. Supply: TradingView

Since that point the value of UNI has continued to climb to a brand new all-time excessive of $32.50 on Feb.20.

Pleasure over the discharge of Uniswap v3 and the power for token holders to stake their UNI and acquire a portion of the charges continues to assist drive demand and token worth greater.


SushiSwap has a controversial origin story, from beginning off as a clone of Uniswap to having the lead developer dump their tokens in the marketplace and subsequently donating all funds in the direction of challenge growth, however has since emerged as a prime DEX when it comes to neighborhood involvement and token worth.

Governance and staking have been early options that SUSHI holders benefited from, in addition to elevated incentives for early liquidity suppliers that some referred to as a “vampire assault” on Uniswap.

After itemizing, SUSHI worth rallied from $1.16 on Aug. 29 to $8.84 on Sep.1, however lead developer ‘Chef Nomi’s’ token dump on the open market induced SUSHI to drop as little as $0.475 on Nov.4.

SUSHI/USDT 4-hour chart. Supply: TradingView

Since that point SUSHI worth has grown by greater than 4,080% to a excessive of $19.77 on Feb.20 and SushiS has grow to be the sixth-ranked DeFi platform when it comes to whole worth locked (TVL) with $3.56 billion presently offering liquidity for the protocol.


PancakeSwap (CAKE) has seen a big rise in worth over the primary two months of 2021 because the challenge emerged as a aggressive DEX and the first billion-dollar project on the Binance Smart Chain (BSC).

Skyrocketing charges on the Ethereum (ETH) community have opened the door for the BSC to empty liquidity and customers from its prime Ethereum-based opponents, and CAKE has stepped as much as facilitate that course of.

The protocol provides an increasing record of staking swimming pools, yield farming alternatives, a collectibles part and a built-in lottery, hitting most of the “scorching matter” tendencies in cryptocurrencies on prime of being a DeFi platform.

Previous to late January 2021, CAKE typically traded beneath $0.70 with its all-time low of $0.194 on Nov. 3, 2020. Value motion for the token started to choose up across the final week of January, across the similar time as merchants from r/Wallstreetbets have been inflicting havoc within the conventional markets.

CAKE/USD 1-hour chart. Supply: CoinGecko

Since its low of $0.194, CAKE has exploded 11,000% to an all-time excessive of $20.33 on Feb. 19 because the Binance Good Chain emerged as the highest competitor to the Ethereum community due to the numerous sources of the Binance ecosystem.