DeFi sector tokens offer shelter as Bitcoin falls below $48.5K

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$FARM, $QUICK and $ANT gain more than 30% in an otherwise red market as bears stomp $BTC back below support at $48,500.

shows that after trading at a low of $235 on Dec. 22, the price of QUICK catapulted 143% to reach an daily high at $570.50 on Dec. 28 as its 24-hour trading volume spiked 1,240% to $166.6 million.The sudden surge in QUICK price followed the release of a relay chain between the Harmony protocol and Polygon, which allowed for the creation of a MATIC/ONE liquidity provider pool on QuickSwap.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for ANT on Dec. 25, prior to the recent price rise.As seen in the chart above, the VORTECS™ Score for ANT began to pick up on Dec. 25 and reached a high of 73 around 45 hours before its price increased 55% over the next day.

The price appreciation for ANT comes as the concept of Web 3.0 has been gaining momentum heading into 2022, which has helped the team at Aragon make strides towards its goal of supporting"organizational forms that defend self-sovereignty." The overall cryptocurrency market cap now stands at $2.276 trillion and Bitcoin’s dominance rate is 40.2%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

 

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In 2021, 'L1' blockchains took the spotlight — thanks to DeFiThey used to be called Ethereum Killers. Now they are called L1s. Either way, Ethereum is finally getting a run for its money. mike_orcutt DeFi is the ultimate Play 2 Earn mike_orcutt Blockchain is a really useful method to solve the problem of liquidity. And putting digital asset onto the chain has been a trend in the past 1-2 year, but is RWA (real world assets) up next?
Source: TheBlock__ - 🏆 464. / 53 Read more »