DeFi industry tokens are currently serving as shelter as Bitcoin drops below $48.5k. As the crypto market takes a hit as Bitcoin struggles below $48,500, FARM, QUICK and ANT are offering crypto traders protection from the storm.
These DeFi altcoins are a haven for the Bitcoin (BTC) investor
Bitcoin (BTC) price has lost around $4,000 in a few hours while the bulls are now trying to secure support at $48,500 to prevent further losses. Amid the market-wide decline, the decentralized finance (DeFi) sector of the crypto ecosystem offered some traders hedging from the storm, with several tokens seeing gains in excess of 30%.
The latest data shows that Harvest Finance (FARM), QuickSwap (QUICK) and Aragon (ANT) have earned the most in the last 24 hours. Harvest Finance is moving towards full decentralization. Harvest Finance is a DeFi protocol designed to automatically collect the highest yields available across the ecosystem and optimize the yields users achieve by applying the latest farming techniques. Before the last price increase, on December 25, a bullish outlook for FARM began to be detected.
As seen in the chart above, the VORTECS™ Score for FARM climbed to the green zone on December 25 and reached 75, about two hours before the price rose 207% over the next three days. The rise in FARM’s price comes as the project continues to move towards full decentralization, including the ability for community members known as “builders” to implement new farming strategies and update the user interface as needed.
Harmony (ONE) jumped
QucikSwap is a decentralized exchange and automated market maker running on the Polygon network. Recent data shows that after trading as low as $235 on Dec. 22, QUICK price rose 143% to $570.50 on Dec. 28, with 24-hour trading volume rising to 1,240%. The spike in QUICK price followed the release of a chain of transitions between the Harmony (ONE) protocol and Polygon that allowed the creation of a MATIC/ONE liquidity provider pool in QuickSwap.
Aragon focuses on digital self-sovereignty. Aragon is a protocol on the Ethereum (ETH) network that supports the creation of decentralized autonomous organizations (DAOs) as a way to help develop governance structures that encourage community participation.
As seen in the chart above, the VORTECS™ Score for ANT started rising on December 25 and reached 73, about 45 hours before its price increased by 55% the next day. Pricing appreciation for ANT comes as the Web 3.0 concept gains momentum towards 2022, helping the team in Aragon take steps toward its goal of supporting “self-sovereign organizational forms.” The overall cryptocurrency market cap is currently $2,276 trillion and Bitcoin’s dominance rate is 40.2%.