thecoinrepublic.com
Highlights
- Bitcoin has crashed by more than 30% in the past 2 months causing investors to move towards DeFi tokens.
- DeFi tokens have surged more than any other kind tokens while mean of growth surging more than 30%
- Harvest Finance, QuickSwap & Aragon DeFi tokens among the top gainers as various announcements act as a catalyst.
As the year ends, the cryptocurrency markets have been through a rigorous crash where prices of tokens have circled back to their beginning of the year levels. Especially Bitcoin, where the crypto king did witness an all-time high on almost $69,000, the token has crashed by just above 30%. However, every cloud has its silver linings so did this one, where the corrections have left investors to ponder more onto various DeFi tokens.
In midst of the red storm, DeFi tokens have given a break to many investors and the sector’s mean surge in gains has increased by more than 30%, unlike various other cryptocurrencies. Among the various others, Harvest Finance (FARM), QuickSwap (QUICK) & Aragon (ANT) emerged as the top gainers.
Harvest Finance plans the seeds to full Decentralization.
Harvest Finance is a DeFi protocol created in such a way that it automatically farms the highest yield available across the ecosystem & optimizes yields of users by implementing various latest farming techniques available to the protocol.
The surge in prices comes across as the protocol has moved towards complete decentralization including the ability of its members & users, also known as builders to deploy new strategies in context to farming and even update the UI as & when needed. The price of the token has rallied more than 170% in recent days while currently, at the time of writing, is trading at $172.03. It is also to be noted that token has fallen by a margin of 20% in the past 24H.
Quickswap includes Harmony Protocol
QuickSwap is a decentralized exchange and also originated as an automated market maker that has its root grounded in the Polygon Network. The launch of a relay chain between Harmony protocol & polygon network made the token to surge by a stunning 143% between Dec 22nd where the token was trading at $235 to 28th where the token hit the $570 benchmark. However, the token has dropped in value and is currently trading at $350. The inclusion also facilitates the creation of MATIC/ONE, a liquidity provider pool for QuickSwap.
Aragon focuses on digital sovereignty
Aragon is a subsidiary protocol on the Ethereum blockchain that facilitates the creation of Decentralized Autonomous Organisations (DAOs) to help create governance structures & tokens which consequently encourage the participation of users on the blockchain to make changes into the same. As the momentum builds around web 3.0, the markets saw the price increase of the token as the tranche supports the organizational forms that promote digital sovereignty.