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- DeFi tokens like AVAX, LUNA, LINK, and FTM have game changers in the crypto market
- Many of the DeFi based protocols are showing some strong bullish sentiments
- Five of the outperforming crypto assets have been observed having some similar traits
DeFi or the decentralized finance industry has the potential to remove traditional banks. However, the decentralized nature of the industry itself has been considered as risky and hot, due to hacks and scams. However, since the beginning of this year, the industry has seen some significant growth. Following recent gains, experts in the industry have deemed that the decentralized system is taking off, as several protocols are doing great. Indeed, the industry that began as a concept by devs and entrepreneurs, has now become the new-breed financial services that was built on top of blockchain and can strip the traditional financial world.
Four DeFi tokens shows great prospects
Following the cryptocurrency industry gaining mainstream popularity, several investors are seeking to take advantage of the market. In contrast, we observed that four crypto assets in the decentralized sector including Avalanche (AVAX) have shown great prospects for bulls. Notably, some of these decentralized tokens are acting in a similar pattern, in terms of trading tools and social mood.
All of the five digital tokens are exhibited with some similar characteristics. The first and foremost reason is that the tokens averaged an increment in the value when the tokens were in extreme bullish condition, after the rise within three days. Indeed, the sorted tokens have proved that they can survive and work while rising on an average. And the last notable factor is that over the last 72 hours all three tokens gained upon an extreme flag crossing by 10%.
DeFi’s hub dominates crypto industry with over 17%
Following the data from some of the trackers, it is observed that the DeFi industry is dominating the cryptocurrency market with more than 17%. Notably, the industry has a total of $101.08 billion worth assets in total value locked (TVL). Over the past 90 days, the decentralized sector’s value consistently surgesto an uptrend, it seems that investors gained back interest in the asset.
However, AVAX has been considered as a more obvious choice for the bulls in the market. With price appreciation, the DeFi token’s gain has also fortified the algorithm’s thesis fully. Indeed, the TVL of the project has surged by more than 10% to a record high.
Other digital assets with some consistent traits
Besides Avalanche, Terra (LUNA), Chainlink (LINK), and Fantom (FTM), have also observed some good gains. LUNA is representing more than 11% of the total TVL in DeFi, whereas, Chainlink and Fantom are representing about more than 10% and 30% respectively. Although the projects have the potential and are outperforming, no one can promise any specific outcome, and it is better for investors to carry out their own research before investing their hard earned money.