Here is an outlook for five tokens from the decentralized financial sector (DeFi) for which interesting developments are pending in September.
- Current price: 8.11 USD
- Market Cap: $ 673 million
- Market Capitalization Rank: # 110
Kava is a decentralized finance platform (DeFi) for lending. Unlike other such platforms, it offers support for cross-chain assets. The platform allows users to borrow stablecoins and then use them to generate returns. The platform uses the native token KAVA. The token can be used as reserve currency and for voting rights.
KAVASwap will be launched on September 1st and will serve as an interface between DeFi, blockchains and other financial products. In addition, the mainnet will go live in September.
KAVA broke out of a descending resistance line on July 24th and hit a new all-time high on August 24th. After that, the price fell into the $ 7.30 area and began another upward move. As a result, he arrived on August 30th new all-time high of $ 9.21. The technical indicators show no weakness. The next resistance is at $ 1.90.
Mantra Dao (OM)
- Current Price: $ 0.22
- Market Cap: $ 79 million
- Market Cap Rank: # 431
MANTRA DAO is a community managed decentralized financial platform. She focuses on governance, staking and lending. The native token used by the platform is OM, whose owners control the MANTRA DAO ecosystem through their voting rights. Users who contribute to the ecosystem are rewarded through the “karma” reward mechanism.
The Skyrim Pool will open on September 1st, prior to the launch of Skyrim Finance. Skyrim Finance is an ecosystem of DeFi products that will include both fixed income and leveraged yield products. It will initially build on the Ethereum and Binance Smart Chain, but will later also be compatible with Polkadot.
The OM course broke out of an ascending parallel channel on August 5th and confirmed it as support two days later (see green arrow). Although the price has risen since then, it has not yet hit a closing price above the horizontal range of $ 0.25. This could lead to a significant upward movement.
- Current price: 33.8 USD
- Market Cap: $ 13.58 billion
- Market Capitalization Rank: # 12
Terra is a blockchain that makes use of stablecoins and uses them for a global payment system. The aim of the project is to combine the decentralization of cryptocurrencies with the stability of fiat currencies. The native token is called LUNA, the main use cases are to guarantee the price stability of stablecoins and to use them for voting.
The Columbus 5 mainnet upgrade will start on September 9th and will provide several updates to the current system. The most important change is that swap fees are no longer burned, but used as dividends.
LUNA price has been rising since August 1st when it broke out of a descending resistance line. As a result of the outbreak, it hit one on August 29th High of $ 36.89. This represents a new all-time high.
However, there are some slight signs of weakness in the form of bearish divergences in the RSI and MACD. The closest resistance area is at $ 33.86, right at the current price, while the next higher is at $ 52.50. These are the outer fib retracement resistances at 1.61 and 2.61.
Coti Network (COTI)
- Current Price: $ 0.34
- Market Cap: $ 274 million
- Market Capitalization Rank: # 165
COTI is a blockchain platform that specializes in the development of payment systems. More precisely, it even enables users to create their own personalized payment systems. The platform uses a new consensus algorithm called “trust chain”, which is based on machine learning. The algorithm can process more than 100,000 transactions per second.
The platform offers seven main elements that are considered essential for a reputable payment structure:
- Cost efficiency
- Buyer-Seller Protection
- Price stability
In September, COTI will begin rolling out on-chain smart contracts. The contracts are executed completely on-chain on the platform and thus differ from other platforms that also offer smart contracts.
On August 25, COTI managed to break out of a long-term descending parallel channel. The price rose 48% that day to hit a high of $ 0.49. However, price has since been bearish after failing at 0.786 fib retracement resistance. The closest support is at $ 0.26, the resistance of the previous channel.
- Current Price: $ 0.274
- Market Cap: $ 14.2 million
- Market Capitalization Rank: # 871
Zeroswap is a decentralized exchange aggregator that is compatible with different chains. The native token for the platform is ZEE. So far, the platform also offers access to the smart chains of Ethereum, Polkadot and Binance.
The three major new products will be launched in the third quarter of 2021:
- Zeroswap Mobile App
- A new governance module
- A new interface for PolkaDot, AVA and Elrond
ZEE began an upward move on July 20, which ended at a high of $ 0.45 on August 23. Although the token has moved down since then, it is still trading above the 0.618 Fib retracement support level at $ 0.262. In order for the bullish trend to remain intact, ZEE must stay above this level. Both the MACD and RSI are neutral. The MACD is at the 0 line while the RSI is at the 50 line.
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