On January. xxx Uniswap (UNI) and Chemical compound (COMP) both rallied to new all-time highs every bit the entire DeFi sector continued to heat up. UNI soared to a new all-time high at $19.93 and COMP price did the same as it briefly traded at $340.

COMP/USDT four-hour chart. Source: TradingView

In the past xxx days the unabridged decentralized finance sector has been in a stiff uptrend and information from DeFi Pulse shows the full value locked has soared from $16.43 billion on January. two to a new all-fourth dimension high at $27.67 billion on January. 30.

Total value locked in DeFi. Source: Defi Pulse

The surge in COMP price follows the recent release of a new governance module and upgrade to the comp.vote interface which at present allows community members to save on gas fees by voting by signature instead of on-chain transactions.

DeFi becomes more attractive after the Robinhood debacle

This week'south controversy surrounding investment brokerages halting the markets for GameStop and AMC stock has presented DeFi and crypto exchanges equally a possible alternative to the centralized traditional finance sector.

In a tweet, Compound founder, Robert Leshner said the recent developments showed that "the long-term answer" to the fourth dimension it takes for trades to settle with the Depository Trust & Clearing Corporation (DTCC), "is for markets to run on blockchains."

Leshner said:

"Instant settlement would eliminate about of the complexity, cost, and uppercase requirements which plague T+2 settlement. Robinhood wouldn't accept credit obligations, or the need to plow confronting their own customers."

Uniswap grants programme launch backs UNI's rally

Uniswap DEX 24-hour trading volume. Source: Uniswap

Uniswap's grants plan was unveiled on Jan. 20 as a way to assistance expand the commutation'south ecosystem.

Developers interested in participating at present have a take a chance to submit a proposal and receive funding for the development of a projection that adds value to the overall platform. According to Uniswap's Twitter feed, in that location were "40 grant submissions to @uniswapgrants in the 14 days since applications opened up."

UNI/USDT four-hour nautical chart. Source: TradingView

Since the release of the grants program, the price of UNI has increased 160% from $vii.10 on January. 21 to its current price of $18.51. Uniswaps rising TVL, daily transaction volume and investor's excitement over the upcoming v3 launch are additional factors backing UNI'southward surge to a new all-fourth dimension high.