Last week, DeFi Coin (DEFC) was listed on the popular centralized exchange BitMart. At the time of the announcement, the DEFC token was trading at 78 cents.
BitMART Listing is a Joy for DEFC
Several factors have helped push the DeFi Coin price over the past few weeks. However, one of the most significant is the listing on BitMART. BitMart is a popular exchange based in Cayman Island with over $1 billion in daily crypto trades.
Since then, the DeFi Coin price has jumped from $0.86 to $1.7 – a staggering gain of 97.6 percent. Now that it has crossed the $1 mark, analysts are now pushing for the $2.2 mark, which many believe could happen before July ends.
An Exciting Launch and Price Gains
DEFC launched on June 14 to significant fanfare. In a matter of days, it jumped from its listing price of $0.13 to $0.33.
July was even better, with investors rushing to buy DEFC and pushing its price to $2.96. But, the market downturn happened and the DeFi Coin price flatlined again.
While the past week was a bit of a scare for the crypto market, the DeFi Coin price has held up quite well.
The asset has risen from $0.68 to $1.17 in the past four days, showing a positive correlation with several large-cap assets.
With a current price of $1.175, DEFC is up an impressive 8.2 percent in the past 24 hours.
DEFC Technical and Fundamental Analysis: $2 On the Way?
DEFC is a strong project with lots of potentials. The asset has strong technicals, with a relative strength index (RSI) of 13.9 and a 20-day moving average (MA) of $0.81.
DEFC is both severely underbought and well above its 20-day MA. As far as technicals go, it doesn’t get so much better than this. There are definitely enough reasons to buy DEFC.
DeFi Coin: Changing Narratives for Decentralized Markets
DeFi Coin is an exciting project that has continued to expand with the different values provided for investors. The DeFi Coin is a great example of how much growth there is in the DeFi market.
The DeFi Coin platform promotes three characteristics – static rewards, a manual burning strategy, and an automatic liquidity pool.
The platform’s DEX exchange DeFiCoinSwap is almost ready for Beta testing. When it launches, DeFiCoinSwap would allow users to trade assets over a decentralized medium. Beyond its exchange service, DeFiCoinSwap will offer users the option to exchange collectibles on its platform.
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