DeFi Tokens That Could Survive 2017 Bull Season
With Bitcoin, which was triggered in 2017, 2-digit prices were reached in XRP, ETH, BCH, LTC and ADA within a period of not more than a month. At the level reached with its investors, in 2021, it refreshes its ATHs every month in alternative names, especially Bitcoin. Today, UNI, LUNA, AAVE, MKR and COMP are giving the signals of the developments in the spring of 2017. The biggest factor that started the 2017 bull season and leaped into altcoins was well-managed ICO projects and institutional investors participating in the DeFi world.
The DeFi world, which is currently expanding in volume and ecosystem, has recorded 110% growth in the last 30 days. However, with the recent developments and the sales pressure that followed, according to on-chain data, bears seem to be the rulers of the market. What should be looked at here is the movements of the names that can provide resistance in prices.
Watch Out For These Altcoins
MKR investors have now made 100% profit with its current price. With its latest price, it manages to take its place among the top 5 names in the DeFi world. Higher liquidity and volatility occurs with the participants. COMP from the world of defi could be preparing for a rally with its reactions to the market. Because he has experienced an increase of 7% in the last 24 hours. At the same time, the transfer volume has increased by 100% within 24 hours, indicating bullish movements.
Finally, CAKE has an increasing demand, especially in the spot market. However, CAKE is leaving the exchanges. The biggest symptom of this is the significantly reduced transaction volume. However, the project is in the phase of gaining power, as seen with other DeFi tokens. The expected move within a week may be sharp upward movements. Forecasts are made based on investor habits with movements reminiscent of the 2017 bull season.
Note: The opinions expressed are not any investment advice. Investors should exercise due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and any damages you may incur are yours.
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