This article will take a look at five cryptocurrencies in the decentralized finance (DeFi) sector. These DeFi tokens have interesting developments lined up for the month of July, which could also have a positive effect on their price.
1inch is a DEX aggregator, which is used to find the best cryptocurrency prices across DEXes. It removes the need to manually check prices, rather sourcing liquidity from exchanges and offering users the best swap rates. It launched in Aug. 2020, created by Sergej Kuncz and Anton Bukov. Its native token is 1INCH. The established method to earn tokens is to provide liquidity in the platform and receive tokens in exchange for doing so. A unique feature of 1inch is instant governance, allowing users to vote for specific protocol settings. In the end of June, the Swiss bank Sygnum started offering clients opportunities for investment in several DeFi tokens, including 1INCH. 1INCH bounced above the $2.25 area on May 23 but returned to the area once more in July. It is potentially in the process of creating a double bottom pattern. The pattern has also been combined with significant bullish divergence in the RSI, MACD & Stochastic oscillator. Despite the possibility of a bounce, the trend cannot be considered bullish until the token reclaims the support line from which it broke down from prior (red icon).
For BeInCrypto’s latest bitcoin (BTC) analysis, click here.
Source: https://beincrypto.com/top-5-defi-coins-for-july/Swipe (SXP)
- Current Price: $2.00
- Market Cap: $200 Million
- Market Cap Rank: #148
Kava.io (KAVA)
- Current Price: $4.28
- Market Cap: $274 Million
- Market Cap Rank: #124
- Governance parameters
- Rewards for delegation
- Swap fees
Avalanche (AVAX)
- Current Price: $11.60
- Market Cap: $1.994 Billion
- Market Cap Rank: #46
1inch (1INCH)
- Current Price: $2.45
- Market Cap: $529 Million
- Market Cap Rank: #107
The Graph (GRT)
- Current Price: $0.572
- Market Cap: $1.657 Billion
- Market Cap Rank: #53
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