Low Cap DeFis Slowly Turning Green In the Charts! Big Players YFI, LUNA, AAVE To Explode!
The crypto market has commenced the new year with softening of prices. Bitcoin price has continued to plummet for the third consecutive day with no sign of price recovery. However, the DeFi protocols didn’t show much weakness rather remained tolerant for the current market crash. Low cap tokens such as Loopring, Thorchain, Secret, and more are slowly turning green hinting at DeFi season.
YFI, LUNA, and AAVE Are The Best Buy Opportunities?
Usually, blue-chip DeFi protocols commence their rally once low cap altcoins recover takes a lead. Specifically, lending protocols such as AAVE, Compound, and Maker DAO making rounds around the market by holding huge TVL and market cap. Besides, YFI and LUNA are adding up new unique features to oppress the bearish rule.
Metrics from Dune Analytics has observed that AAVE, Compound, and Maker DAO together constitute a thumping $40 billion market cap. And loan demand is steady as well hovering above $20 billion. However, these three are not the only superheroes of the town. Especially YFI and LUNA are coming up with groundbreaking upgrades to continue their dominance in the DeFi space.
The top DeFi token Terra Luna has taken the initiative to facilitate over $139 million in UST and LUNA to numerous other DeFi projects such as Ethereum, Polygon, and Solana for the next six months. The proposal was to broaden the interchain bridge of its UST stablecoin across five distinct projects on Ethereum, Solana, and Polygon. This aims to resolve the structural treasury issues.
Yearn. Finance (YFI) which is known as a Bitcoin competitor is slowly carrying out developments to bounce from the current support. The platform has recently introduced its third version Yearn V3 that resolves the majority of the challenges faced by V1 and V2. However, as this leading DeFi token expands beyond yield aggregator, it holds the solid potential to rise high.
Collectively, DeFi tokens are expected to break their old records as they are occupied in development activities. On the other hand, as low cap DeFis are already showcasing recovery, blue-chip tokens would take the charge any time soon now. As a whole, the aforementioned tokens hold the strong fundamentals to rise up in the next supercycle.Source