Bitcoin and Ethereum turned out to be dreary over the past six months since DeFi tokens have been gaining the majority of the traction. Especially Luna, AVAX, and FTM outperformed the market leaders over the past couple of months with whopping gains in price and TVL.
The aforementioned tokens have also registered significant milestones in recent times. As these tokens have been generating consecutive higher lows, a 25% upswing in the current cycle looks imminent.
Avalanche (AVAX) To Annex $150 Zone!
Avalanche has recently faced a heavy rejection at $121 falling by over 20% found support at $80. However, as bulls returned to the market, it has flipped the bottoms and reached $90 in no time. There are not many barriers ahead of the AVAX rally, if it flips resistance around $120, directly it would claim the physiological mark of $150.
Catalysts For AVAX Price Rally:
DeFi TVL on the AVAX platform is sitting at a whopping $14 billion. However, the below chart signifies how constant upgrades of the platform skyrocketed its TVL eventually.
The ecosystem has burnt all transaction fees on AVAX benefiting all token holders. It has burnt over 630k tokens worth $60 million to date. On the other hand, NFTs on the network is sitting at $70 million TVL.
Fantom (FTM) Price To Claim $4!
Despite inflation fears and adverse negative sentiments, the FTM price has managed to rise by 100% from just $1.4 to $2.8. The next key resistance is to break an ATH of $3.48, to undergo another supercycle. Currently, the sentiments are positive hence, the asset is anticipated to surge by another 25% above ATH to claim $4.
These Factors May Propel FTM Price High!
Fantom has recently flipped Solana’s TVL and entered the top 5 with 20.24% weekly gains. Fantom network has been recording a high volume of daily transactions up to 1 million constantly over the past couple of weeks.
Terra (LUNA) Price To Hit $125!
Luna’s price action despite all odds has turned out the biggest surprise in the past couple of months. The asset has been moving upwards with the requisite breathers on its way.
After claiming an ATH of $103.3, the asset was corrected by 35%. Finally, it is back to action with 6% gains round the clock. However, the next challenge is to bounce from ATH, trends suggest it would climb up to $125 if it breaks with a 25% upswing.
Why LUNA Is Poised For Upswing?
Crowd sentiments look pretty bullish for Terra’s TVL has shown solid growth since the start of 2022. Migration of vast capital to Terra is noted in recent times, as it has managed to acquire new users in the second half of 2021.
Continuing the same, the ecosystem is showing the strongest DeFi adoption in 2022, adding a TVL of $18.3 billion. Terra’s volume trading amongst the smart contract platform tokens has taken the first position at $2.3 billion trading volume.
Collectively, these tokens have been emerging as the top gainers in recent times. As many upgrades are in pipeline, they would potentially uplift the price action once they go live. On the other hand, Bitcoin and Ethereum are lacking in their fundamentals compared to these DeFi tokens, hence migration is likely to happen in the near future.
Be the first to comment