DeFi Coin Price Explodes Over 50% Taking BitMarts Top 7 Gainer Spot in July
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.
Over the weekend, along with the general crypto market, the DeFi Coin price rose to about $1.67. It later corrected a bit and now trades at $1.32, at press time.
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.