The great beginning is half done, this appears to be pertinent for the DeFi market in 2022. Earlier this year, the Total Value Locked (TVL) in DeFi reached a landmark $250 billion with just 10% of its total functionality. Whilst the space thrives to evolve at a brisk rate in the upcoming years, it has the prospect to reach out to a larger user base.
The top market leaders of the space Bitcoin and Ethereum run out of steam post the heavy market crash on December 4th. However, DeFi related protocols marked swift recovery after the requisite correction. Chainlink, the Graph, and Loopring have managed to enjoy exponential gains since the start of the year.
Chainlink (LINK) :
The LINK price experienced a nice breakout at $18.94 after failing several times. However, as massive bets are going on for the asset it would continue to generate lower highs. In addition, with this uptrend, LINK’s 20 days MA is poised to surpass 50-200 days MA pointing at a one-sided bullish momentum. However, the asset is now trading at $25.81 with 9.17% gains round the clock.
Why LINK Should Be Present in Your Portfolio?
The Chainlink was one amongst the top developed projects in 2021 with ever rise in developer activity throughout the year. A report from the Santiment confirms Chainlink’s rise at the end of December, to $25.17 in just 4 days. With these eye-popping gains, the platform’s network profit/loss ratio has risen to record levels, indicating traders are taking massive profits.
The Graph (GRT) :
The Graph (GRT) has taken the DeFi space by storm with a bullish kickstart to the mega year. With a clear break out at $0.6435 on 1st January, the asset has enjoyed over 15% gains reaching $0.725 at the press time. RSI is still hovering at the strong buy zones indicating vast buy opportunities. As 20 days MA is slowly moving north there are high chances of asset claiming $1 in the next couple of weeks.
Recent Updates on The Graph:
The graph collaborated with CryptoArt.Ai that is an indexing and query layer of the deccentralised web.Further the The Graph is making its platform ready for Web 3 world in 2022.
Loopring (LRC) :
The Loopring (LRC) price has been slowly turning bullish with significant accumulation over the past 4 days. As 200 SMA is steadily moving upwards, bulls would reclaim the price level of $2.5. Besides, RSI is hovering at an extremely bullish region, if a large chunk of buyers jump in to purchase then the alt would also claim new ATH in Q1. On the contrary, selling at local highs would weaken the LRC price action.
Recent Updates on Loopring:
Loopring has launched a counterfactual smart wallet on December 28th, 2021. However, the platform had also shed light on stop how traders can stop paying gas-fees on Ethereum. With growth over 1400.8% in 2021 it was one amongst the best layer 2 project.
Collectively, DeFi space is all set to explore new ways to execute its full-fledged functionality. As the aforementioned projects are chugging up for new ventures from the start of this new year, massive gains are expected in the coming days. However, if DeFi space undergoes a rally like 2021, then half trillion market cap looks imminent for the space.