5 crypto unicorns that charged onto the blockchain scene in 2020

imageCryptocurrency1 hour ago (Dec 24, 2020 01:40PM ET)

5 crypto unicorns that charged onto the blockchain scene in 2020

A number of decentralized finance protocols experienced volatility around the $1 billion mark in 2020, briefly making some of them unicorns in the crypto space. Though the 2020 numbers are comparable to the number of projects that emerged as unicorns during the 2017 initial coin offering boom, Gemini co-founder Cameron Winklevoss said in September that DeFi protocols have more staying power:

Aave

This platform pays users interest on locked funds in exchange for loans. Aave was one DeFi project to reach $1 billion in market capitalization in 2020, but its value has dipped under crypto unicorn status a few times following news of a $6 million flash loan exploit. The protocol’s own LEND token — which has migrated to a new AAVE token — surged after Aave received an Electronic Money Institution license from the United Kingdom Financial Conduct Authority in August.

Yearn.finance

Synthetix

Harvest Finance

Chainalysis

Special mentions

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5 crypto unicorns that charged onto the blockchain scene in 2020

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