Bitwise Launched crypto funds for Uniswap and Aave, are the tokens worth buying?
- Bitwise launched crypto funds for both Uniswap and Aave.
- Aave has seen an increase to its market cap by 3% in the last 24 hours.
- Uniswap experienced an increase by 10% in its market cap.
Uniswap UNI/USD is one of the most popular decentralized trading protocols which is known for its role in facilitating automated trading in decentralized finance (DeFi).
Aave AAVE/USD is a decentralized finance protocol that allows people to easily lend as well as borrow cryptocurrencies where lenders can earn interest through depositing digital assets into specially created liquidity pools and borrowers can use their crypto as collateral and take out flash loans.
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The Bitwise investment as a catalyst for growth
On August 3, Bitwise is a $1 billion digital asset manager and said that many clients are demanding a lot more exposure to DeFi’s biggest names. They are adding two funds for decentralized finance (DeFi) protocol tokens, including AAVE and UNI to their lineup of investment vehicles.
That being said, the new funds by the California-based manager can invest directly into one of those specific two tokens.
That being said, after this announcement, AAVE’s market cap increased by 3%, while Uniswap’s market cap increased by 10%.
Should you buy Uniswap (UNI)?
On August 4, Uniswap (UNI) was valued at $21.
As a point of reference, its all-time high was on May 3 with a value of $44. This is a difference of 52%.
To get a better perspective of its recent developments, we will be analyzing its performance in July. The lowest point it got to in June was on July 21 where it had a value of $14, while its highest point of the month was on July 31 at $21. This gives us a perspective that the token’s value can shift by 33% throughout the month.
This being the case, with the boost it is getting from Bitwise, we have seen an increase in market cap by 3%, and it is expected to go even higher. We could see its value reaching $25 by the end of August as a result. This makes it a worthwhile purchase.
Should you buy Aave (AAVE)?
On August 4, Aave (AAVE) was valued at $308.
By comparison, it’s all-time high was on May 18 with a value of $661. This is a difference of 53%.
However, to get a clearer perspective of its performance as of recently, we will be analyzing its performance in July. It saw its highest point on July 6 at $346, with its lowest point on July 20 at $217. Its high in July was just 11% higher than its value on August 4, while its lowest point had a difference of 42%.
This being the case, ever since the Bitwise announcement, it has gone up 10% in its market cap, and we can see its value reaching $315 by the end of August which makes it a good buy.
Where to buy right now
To invest simply and easily, users need a low-fee broker with a track record of reliability. The following brokers are highly rated, recognised worldwide, and safe to use: