Top Five DeFi tokens for August

In July 2021, Non-Fungible tokens took the lead, and Axie Infinity (AXS) grows over 500%, Alien Worlds (TLM) increasing by 285%, and Terra Virtua Kolect (TVK) moving close to 140% despite the unstable market situation in the month.

Here are some Decentralized Finance assets to check out for August. These tokens have fascinating developments lined up for the month and could have a positive outcome on their value.

ALGORAND (ALGO) 

Algorand has been trading within a falling wedge since the 4th month of 2021 and it is moving to the concluding side of the pattern. The descending wedge is known to be a bullish sign in a chart.  Moreover, the Moving average convergence divergence (MACD) has created a positive divergence.

Its Current Market Price (CMP) is $0.802 and has a Market Cap of $2,591,355,403 as of the time of the article. 

Aave (AAVE)

Aave is a decentralized protocol that concentrates more on liquidity. In it, participants have the choice of becoming either borrowers or investors. 

Stani Kulechov, the founder of Aave protocol, will be one of the orators in the Smart contract summit event scheduled on the 5th to 7th of August. Aave CMP is $308.

Read also: AMA: CBDC & NFT Can Be Created on Bantu Blockchain – CEO, Ernest Mbenkum

Kava.io (KAVA)

Kava.io is a Lending platform for decentralized finance. It permits users to invest crypto assets and receive the reward (yield). 

The project swap Mainnet launching will be on the 12th of August. KAVA moved out from a downside resistance area and broke out of the $4.95 resistance line, aiming for the next resistance level closer to $7. The CMP is $5.83.

ChainLink (LINK) 

ChainLink allows for the secure interaction of several blockchains. Ari Juels will be one of the main speakers at the Smart contract summit that is said to be the most important event of the year relating to the smart contract. Its CMP is $22.40 and it recently broke out of the $20 resistance level.

TrueFi (TRU)

TrueFi, like Aave, is a DeFi protocol focusing on liquidity pools. Its Current market price stands at $0.1467. Out of the four stages of the roadmap outlined for 2021, the last one will be launched in August.

TRU touched an ATL of $0.1134 on the 20th of July. Although there are several bullish patterns in place, the token is yet to move upward.

What do you think? Share your comments below.

 

Comments (No)

Leave a Reply