Analyst Predicts DeFi Altcoins Set For Bullish Explosion
CoinEdition
Published Apr 11, 2021 07:27AM ET
Analyst Predicts DeFi Altcoins Set For Bullish Explosion
- Sheldon Evans believes that DeFi tokens might go rocket high anytime soon.
- The top 5 DeFi applications in the DeFi pulse have over $2 billion total value locked (TVL) each.
Sheldon Evans, a crypto enthusiast, and a youtube influencer, believes that DeFi tokens might rocket high anytime soon. In a youtube presentation that Evans created last April 10, he discussed the crypto space’s bullish potential in the days to come.
In fact, the top 5 DeFi applications in the DeFi pulse have over $2 billion total value locked (TVL) each. Truly, a market standing that catches the attention of investors worldwide.
Source: DeFi Pulse
Furthermore, the native digital assets of these top 5 DeFi applications shown above are also making noise in the crypto market. For example, the COMP cryptocurrency, a native token of the Compound protocol has over 24.9% growth rate in the past 24 days.
In addition, the MKR crypto, a governance token of the Maker DeFi protocol, has almost 700% increased rate in the past year. These cryptocurrencies are just some of the active DeFi tokens that are greatly performing in the crypto market.
Meanwhile, as the DeFi tokens continue to make noise in the crypto market, Bitcoin remains as the king of cryptocurrency. As a result, Bitcoin remains to be one of the most favorite digital assets in the crypto space. Today, Bitcoin trades to almost $60k per coin with a whopping market capitalization of over $1 trillion.
Moreover, aside from the DeFi protocol and cryptocurrency, people around the world are now getting crazy over non-fungible tokens (NFT). With all these ongoing achievements in the crypto world, truly the year 2021 is the year of cryptocurrencies.
This article was first published on coinquora.com
Continue reading on CoinQuora
Get The News You Want
Written By: CoinEdition
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.