DeFi Space Eyes For Half Trillion Market Cap in 2022! SUSHI, CRV, YFI, AAVE Set For Marathon Run!
The year 2021 has been incredible for the DeFi market where most of the altcoins gained significant profits with flying colors. At present, the total DeFi market cap is $161.4 billion up by 35.46% round the clock. However, the crypto fraternity is now cheering for massive DeFi season to commence by early January.
Notably, SUSHI, CRV, YFI, and AAVE are optimistic about leading the mega DeFi season by early 2022. The festive knells appear to have rung for the aforementioned altcoins as these coins have recently bounced from their crucial support. However, if an equivalent rally like the one we had in 2021 repeats then DeFi space would become a $500 billion market in 2022.
SushiSwap (SUSHI) Price to Explode:
SushiSwap (SUSHI) token has been creating a lot of media buzz as the altcoin has been garnering a lot of social engagement and retail boost. In the past couple of weeks, the protocol has experienced a series of whale accumulations. A crypto metric platform Intotheblock disclosed enthralling exchange outflows worth $93.08 million of Sushi tokens in just 7 days.
$SUSHI holders continue to see a nice payoff for sticking with the $ETH-based #DeFi asset through the tumultuous early December dip. Whale addresses with 100k to 10m have now accumulated a whopping +9.7% of the #Sushiswap supply since November 1st. https://t.co/cgelUMnpWe pic.twitter.com/rTJm3knlGt— Santiment (@santimentfeed) December 27, 2021
A crypto metric platform Santiment confirmed a whopping accumulation of 9.7% of Sushiswap supply by whale addresses holding 100k to 10 million Sushi. The accumulation indicates an increasing interest in the altcoin. As a whole, the protocol is bullish in terms of cash inflow, network growth, and the number of transactions.
Further, it has been one of the top performers on Binance Smart Chain in recent days. Sushi price is currently trading at $8.83 with 10.73% profits round the clock. It is expected to reclaim its previous ATH-provided continuation in the upsurge.
AAVE Price Awe The Competitors:
AAVE’s price has been trading at $278.30 with a thumping surge of 67.13% in trading volume round the clock. Besides, the protocol has experienced a massive accumulation of $87.98 million over the week. The number of large transactions are up by 10.73%, and cash inflow has seen a massive upsurge of 8.13% over the week. Further, it was one of the top trended tokens on Reddit during Christmas with a search volume of 21%. Whilst the majority of the indicators are bullish, 2022 would become the game-changer for AAVE price action.
Yearn.Finance (YFI) Price To Reclaim ATH?
Yearn. Finance (YFI) has made a big move in terms of trading volume, which is up by 107.5% round the clock. There has been a massive accumulation of $46.67 million over the past seven days. Hence, the next couple of weeks would play a key role in deciding the YFI price rally. However, in the first half of 2021, its contribution to the DeFi market cap was phenomenal, where it has surged from just $10k to $90k. If something similar reiterates in early 2022, then DeFi space would see remarkable growth.
Curve DAO (CRV) Price To Counter the Bottom:
Curve DAO (CRV) price has been trading at $5.83 with a whopping 53.05% surge in trading volume round the clock. The Total Value Locked (TVL) has seen exponential growth by 26x in just a year from $1.12 billion to $26 billion at the press time. However, TVL showcases the healthy network growth between users and the platform. The price is expected to come out of the range-bound scale in early 2022 and to surpass $10.
Collectively, the aforementioned altcoins hold the true potential to lead the DeFi season in 2022. In 2021 alone, the total DeFi market cap surged from just $20 billion to a whopping $180 billion in December. However, if a similar trend recurs in the forthcoming year, then achieving a $500 billion market cap would become inevitable.Source