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DeFi coins, CRV, MATIC, and YFI are all riding the new altcoin rally surge. CRV, which is just a year old, now supports low-cost stablecoin swaps with high liquidity (equivalent to $0.001 cents) and high-yield farming on CurveFinance, among other platforms.
As a result, demand for CRV has increased, allowing for a price increase. The price is currently approximately 5% higher than the previous day, and the decrease in trading volume across exchanges suggests that CRV might be leaving exchanges. Demand for liquidity is being absorbed through exchanges. Furthermore, current on-chain sentiment is bearish, but this is likely to improve as liquidity increases over the next week.
MATIC, another DeFi token with a bearish sentiment based on on-chain research, is making a comeback this alt season. For over a month, the price has been rangebound between $0.3 and $0.4. After reaching a high of $0.48 a month ago, the token’s liquidity is now declining across exchanges. This may be seen as a restructuring, but in the long run, it is important for the asset’s price rally.
MATIC’s recent collaborations will result in improved market capitalisation and demand in the long run; but, with less than 60% of HODLers profiting at the current price level, MATIC’s price may rebound if demand rises in the following week.
According to the price chart above, MATIC reached its all-time high less than 30 days ago. There could be a turnaround if the concentration of big HODLers, which is currently more than 95 percent, decreases to increase liquidity on markets across exchanges.
YFI, as opposed to MATIC and CRV, led the previous process of the altcoin rally. The price of YFI has risen by about 20% in the last 24 hours. While the majority of the top DeFi tokens are not yet rallying, YFI is leading the way with a bullish sentiment among traders based on on-chain analysis. Almost all YFI HODLERS are profitable at the current price stage, and the commodity is likely to reach a new ATH the following week due to improved demand and liquidity across exchanges.
According to the above map, YFI’s trade volume has not reached previous highs, but the price is rising. This indicates that the altcoin’s trading rate is expected to increase, pushing the price higher in the coming weeks. Since the mood is positive, traders anticipate double-digit ROI, as YFI is no longer in the buy zone, unlike other DeFi tokens.