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Popular crypto analysts are emphasizing a small number of crypto projects as one niche counters the downtrend of the entire market.
In the YouTube update, Guy, the host of the pseudonym CoinBureau To tell His 2.08 million subscribers using Decentralized Finance (DeFi) have made an impressive comeback.
“Starting with Convex Finance, CVX seems to be recovering with the development of a decentralized stablecoin front …
Unfortunately, the recent rise in CVX is barely noticeable, but as DeFi developer Andre Cronje once said, “DeFi tokens shouldn’t be bought, they should be earned.” It’s his words, not my words. “
At the time of writing, Convex Finance (CVX) is trading at $ 5.20. CVX remains up 66.1% from its June 18 monthly low of $ 3.13.
Analysts also describe the interoperable blockchain Quant Network (QNT), which helps developers create decentralized applications (DApps).
“Next is the Quant Network, which appears to be recovering QNT tokens with an update to Overledger, a platform developed by the Quant Network, which uses smart contracts from various blockchains. You can create a DAapp.
Like most altcoins, QNT is well below its all-time high, suggesting that technicals won’t be that high from here. In other words, we are late in fixing, so think twice before pondering. “
Guy then mentions the lending and borrowing protocol Aave (AAVE). This is a new over-collateralized decentralized stablecoin GHO project that he recently discussed in detail.
“AAVE tokens are specifically rallying [because of] Aave’s distributed stablecoin …
Aave’s weekly rally looks amazing, but taking a step back, we can clearly see that tokens are still on a long-term downtrend, but we’ve capped the downtrend since last summer. It is possible to test.
This can result in Aave up to $ 120 before being rejected. “
Next, Guy focuses on development with the distributed cross-chain liquidity protocol THORChain (RUNE).
“Then there is THORChain. That RUNE coin was rallyed in the news that the developers are creating DEX. [decentralized exchange] Aggregator. This allows you to exchange almost any coin or token without using KYC, just as you would with a centralized exchange. [Know Your Customer] Or third party management.
It’s a shame that RUNE keeps it in the tank, but if past price history can’t be helped, it will be another in the coming weeks, along with other innovative features that THORChain is working on after the DEX aggregation is deployed. You can see the large speculative pumps of. “
The Coin Bureau host concludes the chat by assessing the status of the automated market maker (AMM) and DEX Uniswap (UNI).
“Last but not least, there’s Uniswap. This is one of the DEXs ThorChain is trying to take advantage of. I wasn’t really sure why UNI was recovering, but recently Uniswap That may be the reason for the large volume of transactions.
Like most other altcoins, UNI is basically back to its pre-bulk market. Note again that this does not mean it is a good time to buy, as we are still in the middle of the crypto bear market. “
Uniswap is in the red 3.24% on the day and is priced at $ 5.63.
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Featured images: Shutterstock / seecreateimages / DM7
