In recent days, when Bitcoin (BTC) was traded in the $25,000 region, the DeFi market also had the opportunity to recover in terms of TVL. In this article, we have compiled the forecasts for 3 DeFi altcoin projects that are giving strong signals for the coming days according to technical analysis.
3 DeFi altcoins that can rise rapidly in the short term
Stacks (STX)
Stacks Blockchain uses Bitcoin as its epicenter, leveraging the security and stability of the Bitcoin network while adding new functionality and capabilities. The altcoin project is also introducing a new consensus mechanism known as Proof of Transfer (PoX), which allows STX investors to earn Bitcoin rewards by securing their tokens and participating in network consensus.
Meanwhile, Bitcoin has been rising in recent days and if it continues its bull run, Stacks could also benefit from this momentum. STX price is currently trading at $0.8925, down 2% from the last 24 hours. On the March 13 rally, it rose 31.60% to $1.04. The bull run supported trading volume with an increase of 80%. STX is currently giving its investors 60% gains over last week.
Conflux (CFX)
Conflux is a next-generation Blockchain platform designed to address the scalability and security issues of existing Blockchain networks. It uses a new consensus algorithm known as Tree-Graph, which combines PoW and PoS mechanisms to achieve high throughput and transaction certainty.
Conflux, known as the Chinese Polygon, had triple-digit rallies in the new year with a string of partnership news. As Kriptokoin.com, we have included its partnership with China’s largest telecom company, China Telecom, in this article. CFX is currently trading at $0.3044, down over 5% from the last 24 hours. It should be noted that it has not increased in value by more than 150% since March 13:
Kava (KAVA)
Kava is a Cosmos-based DeFi altcoin project. It offers a variety of financial services, including borrowing, lending and trading of tokens such as cryptocurrencies and stablecoins. Kava has collaborations with many major blockchain companies, including Binance and Huobi, and is backed by leading venture capital firms such as Ripple.
The altcoin has gained over 40% in the past 7 days. It is currently trading at $1.13, down over 5% from the last 24 hours. KAVA price is also in a strong bullish in March.
DeFi is one of the fastest growing sectors of the cryptocurrency market, with many innovative projects emerging every month. The 3 DeFi altcoin projects listed are approaching the ideal buy zone, with a moderate correction after the recent double-digit gains, according to analyst Shourya Jha.
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