• PancakeSwap, Uniswap and Serum prices climbed on June 26 as the Total Value Locked in DeFi protocols surged over the past week.
  • DeFi TVL rose 6.5% between June 19 and 26, signaling rising interest among market participants.
  • CAKE, UNI and Serum prices wiped out losses from the past week.

Cryptocurrencies in the DeFi segment have started their recovery as the combined value of assets locked in these protocols rises. Based on data from crypto intelligence tracker DeFiLlama, Total Value Locked (TVL) climbed 6.54% in the last week.

As the sentiment among crypto market participants improves, these tokens yielded gains for holders. Meanwhile, Ethereum Layer 2 scaling solutions and altcoins are reeling from the impact of the Securities and Exchange Commission’s (SEC) crackdown.

Also read: Arbitrum boosts Layer 3 network development as Polygon, BNB Chain lag behind

CAKE, UNI and Serum prices begin recovery

Pancake Swap (CAKE), Uniswap (UNI) and Serum (SRM) offered gains to holders over the weekend and the past week amidst a market-wide recovery in DeFi tokens. CAKE price rallied 14.28% from June 19, trading at $1.60 at the time of writing. 

TVL of DeFi protocols

TVL of DeFi protocols

Pancake Swap started its recovery in the past week and yielded nearly 12% gains over the weekend. DEX’s token has been teasing a launch of a new bridge and this is likely a bullish catalyst. Moreover, sentiment among crypto market participants has improved as the SEC’s crackdown has been limited to altcoins and Ethereum Layer 2 scaling solutions like Solana (SOL) or Polygon (MATIC), among others. 

Uniswap (UNI) price rallied 21% since June 19, climbing from June 19 open of $4.48 to $5.44 on Monday. Over the weekend, UNI yielded 11.7% gains. The DeFi token was one of the top performers among decentralized finance tokens ranked by market capitalization. 

Despite recent decline in network growth and user activity, UNI price continued its upward trend on Binance. Find out more about Uniswap’s on-chain activity here.

In May, crypto intelligence tracker Santiment predicted that Serum (SRM) price is bottoming out, noting that altcoins continue flushing out as Bitcoin recovers. Since then, SRM price has nearly doubled, climbing from $0.080 to $0.124 between May 10 and Monday.

SRM price rally gathered steam over the past week, rallying 125%, from $0.055 to $0.124, rewarding holders with three-digit gains. The DeFi token ranks among top gainers while altcoins in the top 30 attempt a slow recovery on Monday. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended Content

Editors’ Picks

US presidential election outcome could shape the future of crypto

US presidential election outcome could shape the future of crypto

US citizens will go to the polls to elect a new president on November 5, and their choice could be key for the future of the crypto industry and thus the price outlook for Bitcoin (BTC).

More Cryptocurrencies News
Bitcoin ETFs beat Gold ETFs with 65% gain since launch

Bitcoin ETFs beat Gold ETFs with 65% gain since launch

Bitcoin ETFs have reshaped the digital asset investment landscape since their approval in January. Their total assets under management climbed over $70 billion during the weekend, placing them ahead of other investment products, including gold.

More Bitcoin News
XRP eyes 10% rally amid relisting across crypto exchanges and growing institutional demand

XRP eyes 10% rally amid relisting across crypto exchanges and growing institutional demand

Ripple's XRP is trading at $0.5050 up slightly by 0.2% in the past 24 hours as it struggles to sustain a move above a key symmetry triangle resistance. Meanwhile, in its recently released Q3 report, Ripple noted the rising listing and relisting of XRP across crypto exchanges and global platforms.

More Ripple News
Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF

Ethereum Price Forecast: ETH struggles below $2,500 amid State of Michigan pension fund investment in ETH ETF

Ethereum is trading near $2,420, down about 1% on Monday, but could bounce off a key descending trendline close to the $2,258 historically high demand zone. Meanwhile, the State of Michigan pension fund revealed an investment of $11 million in ETH exchange-traded funds.

More Ethereum News
Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin: New all-time high at $78,900 looks feasible

Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.

Read full analysis
Best Forex Brokers with Low Spreads

Best Forex Brokers with Low Spreads

VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.

Read More

BTC

ETH

XRP