DeFi resurgence lifts Maker, Aave and Compound price to new highs By Cointelegraph

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DeFi resurgence lifts Maker, Aave and Compound price to new highs

Analyzing the activity on lending platforms can sometimes be used as a barometer for measuring the sentiment of the cryptocurrency market as a higher number of collateral-backed loans may signal that traders are eager to trade a rising market.

The month of April saw the total value locked on Maker (MKR), Aave (AAVE) and Compound (COMP) climb to new highs alongside rising token values and trading volumes.

MKR/USDT vs AAVE/USDT vs COMP/USDT 4-hour chart. Source: TradingView
Total value locked on Maker. Source: DappRadar
Total value locked on Aave. Source: DappRadar
COMP/USDT 4-hour chart. Source: TradingView
Total value locked on Compound. Source: Defi Llama