Aave and Chainlink were the biggest cryptocurrency gainers on Thursday following significant purchases from President-elect Donald Trump-backed project, World Liberty Financial.
What happened: AAVE topped the gainers list, leaping over 19% in the last 24 hours to its highest value since Sept. 2021. The coin's trading volume popped 146% to $2.38 billion, while its market valuation topped $5 billion.
AAVE is the native cryptocurrency of the renowned decentralized lending protocol, Aave, which has over $22 billion in total value locked, per data from DeFiLlama.
A noted cryptocurrency trader, Alex Clay, stated that AAVE was going "according to the plan."
"Now looking for some correction below the major supply zone and then breakout of the one," he added.
| Cryptocurrency | Gains +/- | Price (Recorded at 9:30 p.m. EDT) |
| Aave AAVE/USD | +19.24% | $361.60 |
| Chainlink LINK/USD | +17.26% | $28.41 |
Similarly, LINK soared over 17%, also to a 3-year high, while its volume exploded by 222% over the last 24 hours. The cryptocurrency was within touching distance of bettering its all-time high market capitalization of $19.85 billion.
Michaël van de Poppe, a cryptocurrency expert and early supporter of LINK, referred to it as an “undervalued gem.”
"The all-time high at $50 will look very small in the following years," he predicted.
LINK is the native cryptocurrency of Chainlink, a project that connects real-world data to blockchains.
See Also: Trump-Backed World Liberty Financial Bags $10M In Ethereum: What’s Going On?
Why It Matters: The upsurge in the two coins comes amid strong accumulation by decentralized finance project World Liberty Financial.
The Trump-backed project spent $2 million to buy 78,387 LINK tokens and $1.25 million to bag 4,043 AAVE tokens in the last 24 hours, as per on-chain data.
World Liberty Financial is being promoted as a decentralized money market that will allow users to borrow, lend, and earn interest on cryptocurrencies.
While the project itself is a hard fork of Aave, the usage of LINK tokens implied steps to digitize real-world data and put it on blockchains.
Image via World Liberty Financial
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