Yearn.Finance lending protocol token up more than 76% Decen | NFT News

Yearn.Finance lending protocol token up more than 76%

Decentralized Finance, or DeFi, a sector of the cryptocurrency market is making serious leaps on Monday. The Yearn.Finance lending protocol token was up more than 76%. In addition, UNI, the symbol of the leading decentralized exchange by volume, Uniswap, was up 54%.

According to TradingView, both Yearn.Finance and Uniswap have had triple-digit percentage gains so far in 2021, but market volatility has actually boosted some of their juicy profits. For example, Uniswap was up more than 700% in early May before plummeting, then recovering with the crypto bull market on Monday.

According to data aggregator Dune Analytics, trading volumes for Ethereum-based decentralized exchanges hit record highs in May, with total trading volume well over $100 billion.