Many industry executives stated that Cuban’s interest in Aave shows that DeFi has become mainstream throughout the past 12 months.
The total value locked in DeFi has surpassed $23 billion, consistently reaching a new all-time high.
Chainlink is a blockchain network that specializes in oracles. Oracles are crucial to DeFi protocols because oracles provide valuable market and price data to Defi platforms.
Hence, Chainlink and Aave are likely to benefit the most from a rapidly-growing DeFi market.
According to a cryptocurrency trader known as “Cantering Clark,” a $30 target for Chainlink in the foreseeable future is quite conservative. He wrote:
“The last break paused for a moment before ripping up 80% before any significant correction. Break of an ATH is a green light for strength. Expect a delay in follow-through always. I think a 30$ $LINK soon is clearly conservative.”
However, some argue that the upside potential of Chainlink is limited relative to other DeFi tokens given its $9 billion valuation. Other major DeFi protocols are still valued under $2 billion.
In the near term, other core pillars of DeFi, such as Synthetix and SushiSwap, are likely to be the next strongly-performing DeFi tokens after Aave and Chainlink.
SushiSwap, for instance, has seen a massive spike in price after seeing a sharp increase in trading volume following a “merger” with Yearn.finance.