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Saturday, August 15, 2020

0x- Dex tokens go up with DeFi goldrush!

0x- Dex tokens go up with DeFi goldrush!


Long it in the buy zone unless the breakout fails and the price falls below the invalidation lvl.

0x (ZRX) & kyber network (KNC) are two of the older DEX tokens (Decentralized exchanges) and they are both on Coinbase. Whereas, Balancer (BAL), airswap ( AST ) and other DEX token s are not.

ZRX is still under $1 and unlike KNC which has gone up 10x already, it has "only" gone up 2x this year. Furthermore, its spot trading volume is consistently ranked among top 10 DEX (Uniswap doesn't have the native governance token) and its token, in terms of trading volume , is consistently ranked in the top 5 DEX tokens.

The only thing to watch out for is its market cap... Yes, in crypto, 300 million market cap means large cap and speculators had the penchant for driving up the price of low market cap tokens between 50 to 100 million back in 2017.

I expect the Defi gold rush and liquidity farming to continue carry DEX, lending and oracle tokens at least in the near future.

from Trading Ideas
via gqrds

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