DeFi sector tokens offer shelter as Bitcoin falls below $48.5K

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The cryptocurrency market fell on December 28, with the price of Bitcoin (BTC) losing nearly $ 4,000 in a matter of hours, with the bulls now seeking support at $ 48,500 to avoid further losses.

Amid the market-wide decline, the decentralized finance (DeFi) sector of the crypto ecosystem has offered some traders shelter from the storm, with several tokens recording gains above 30%.

Top 7 coins with the highest 24 hour price gains. Source: Cointelegraph Markets Pro

Data from Cointelegraph Markets Pro and TradingView shows that the biggest winners in the last 24 hours have been Harvest Finance (FARM), QuickSwap (QUICK) and Aragon (ANT).

Harvest Finance moves towards full decentralization

Harvest Finance is a DeFi protocol designed to automatically cultivate the highest yields available across the ecosystem and maximize the returns users receive by implementing the latest farming techniques.

Cointelegraph Markets Pro’s VORTECS ™ data began to detect a bullish outlook for FARM on December 25, ahead of the recent price hike.

The VORTECS ™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trade volume, recent price movements and Twitter activity .

VORTECS ™ score (green) against the FARM price. Source: Cointelegraph Markets Pro

As shown in the graph above, the VORTECS ™ score for FARM fell into the green zone on December 25 and peaked at 75 about two hours before the price increased 207% over the next three days. .

The increase in FARM’s price comes as the project continues to move towards full decentralization, including the ability for community members, known as ‘builders,’ to roll out new farming strategies and implement new farming strategies. update the user interface as needed.

QuickSwap Adds Harmony Support

QucikSwap is a decentralized exchange and automated market maker that operates on the Polygon network.

Data from Cointelegraph Markets Pro and TradingView shows that after trading at a low of $ 235 on December 22, QUICK’s price catapulted 143% to a daily high of $ 570.50 on December 28 as its volume of 24-hour trading climbed 1,240% to $ 166.6 million.

QUICK / USDT 4 hour chart. Source: TradingView

The sudden surge in the QUICK price followed the release of a chain of relays between the Harmony (ONE) protocol and Polygon, which enabled the creation of a pool of MATIC / ONE liquidity providers on QuickSwap.

Related: Ethereum whales drop ETH as prices drop below $ 4,000, data shows

Aragon focuses on digital self-sovereignty

Aragon is a protocol on the Ethereum Network (ETH) that supports the creation of Decentralized Autonomous Organizations (DAOs) as a way to help develop governance structures that encourage community engagement.

Cointelegraph Markets Pro’s VORTECS ™ data began to detect a bullish outlook for ANT on December 25, ahead of the recent price hike.

VORTECS ™ score (dark gray) against the ANT price. Source: Cointelegraph Markets Pro

As shown in the graph above, the VORTECS ™ score for ANT started increasing on December 25 and peaked at 73 about 45 hours before its price increased 55% the following day.

ANT’s award appreciation comes as the concept of Web 3.0 gains momentum as we approach 2022, which has helped the Aragon team move towards their goal of supporting “forms of” organization which defends self-sovereignty ”.

The overall cryptocurrency market cap is now $ 2.276 billion and Bitcoin’s dominance rate is 40.2%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move comes with risk, you should do your own research before making a decision.