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DeFi Watchlist: Top rated upcoming DeFi projects worth your consideration

DeFi projects are becoming central in the growth of the blockchain space over the last few years. There are also brand new DeFi projects that are coming out each day, each offering a promise of great financial autonomy from traditional finance. Here is why DeFi is heating up:

  • There is massive investor confidence around DeFi right now.

  • Billions of dollars are already locked in leading DeFi projects.

  • DeFi projects provide a lot of utility hence a lot of value for investors

If you have been thinking about getting some exposure to DeFi, we have some exciting projects here below that you can get into if you want.

Compound (COMP)

Compound (COMP) is a decentralised finance protocol that provides access to a series of staking opportunities for crypto holders. The purpose of this protocol is to make it easier for users to borrow and lend crypto assets on a peer-to-peer basis. 

Data Source: Tradingview 

The Compound protocol and its native token COMP are all based on the Ethereum network. This is one of the hottest DeFi projects on the chain, and at the time of writing, COMP was trading at $108 with a market cap of around $709 million.

Liquity (LQTY)

Liquity (LQTY) strives to offer interest-free borrowing on the Ethereum blockchain as well. As of now, the platform has seen immense growth with nearly $1.2 billion in total value locked or TVL. The token also appears to have significant upside potential. At press time, it had a market cap of around $35 million. Also, its native token LQTY was trading at $2.15.

Cream Finance (CREAM)

Cream Finance (CREAM) is also a micro-cap DeFi project that offers massive growth potential. It has a market cap of around $22 million, and its native token CREAM is right now selling for around $33.88. Cream Finance is basically a decentralised DeFi lending protocol that allows users to lend and borrow crypto at ease.

The post DeFi Watchlist: Top rated upcoming DeFi projects worth your consideration appeared first on Coin Journal.

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Decentraland (MANA) bears push price action below crucial support

The February crypto boom was kinder to most metaverse tokens, and Decentraland (MANA) was not any different. After the initial slump in January, the coin had rebounded and started to show signs of promise. But things have taken a turn in recent days:

  • MANA at one point tested the highs of $4 during the February run.

  • The coin has since fallen sharply ever since, trading at $2.66 at the moment.

  • MANA has also fallen past a crucial support zone of $2.7.

Data Source: Tradingview 

Decentraland (MANA) – where does it move next

There was a lot of bullish commentary on Decentraland (MANA) in recent days. In fact, despite showing some weakness, there was real hope that the metaverse token would in fact bounce back. Some analysts even saw the coin retesting $4, although it had fallen below $3. 

But there was one caveat in all this. The bullish thesis would only hold if MANA was able to keep the price action above the crucial support zone of $2.7. This did not happen. At the time of writing this post, MANA was trading at around $2.66. 

So, what happens next? Well, it is important to note that the coin has not slid far away from $2.7 and could still bounce back. The key will be to watch the week’s close. If it doesn’t pull up, then we may see the coin retreat towards its next support level of $2.5.

Why could Decentraland (MANA) be a good asset now?

With all the talk about the metaverse, we haven’t really seen a lot of huge projects come out in recent months. There are of course many upcoming metaverse projects. 

But even with that, the fact still remains that Decentraland (MANA) is by far one of the largest coins in this category right now. There is real potential for significant future growth in the near and long term.

The post Decentraland (MANA) bears push price action below crucial support appeared first on Coin Journal.