DeFi Coin Price Down 56% – Time to Buy DEFC?

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DeFi Coin is one of the most exciting new cryptocurrencies available in the market. Investors can buy DEFC if they would like to get on assets before they get into the mainstream, and this coin is definitely a great option for several reasons.

While it is understandable for investors to be skeptical about the market considering its situation, it is worth noting that downturns are a great opportunity to buy the dip and set yourself up for bigger gains.

So, if you’re a value investor who is looking for assets to get into, then DEFC could just be what you need.

DEFC: A Utility Token for All Things DeFi

DeFi coins price charts July 19

As many know, the decentralized finance (DeFi) market has gotten a great deal of attention from crypto investors over the past year. Data from DeFi Pulse shows that the market currently has $55.24 billion in total assets locked – a significant rise from the $3.6 billion that was available in the market just a year ago.

The allure of DeFi is understandable. It provides an opportunity to access financial services without the need for a middleman, and DeFi offers convenience and openness to everyone regardless of who they are.

But, like every nascent industry, DeFi has a lot of growing to do. Developers looking to cash in have introduced different innovations, and DeFi Coin is one of them.

Launched earlier this year, DeFi Coin and its protocol will allow users to trade digital assets in a decentralized manner. Buyers and sellers will be able to come together and exchange value without having to go through any centralized middleman.

The DeFi Coin protocol especially promotes three characteristics – static rewards, a manual burning strategy, and an automatic liquidity pool. As for DEFC, it is a token hosted on the Binance Smart Chain and allows seamless exchanges between wallets.

The asset might have only launched a while back, but it already got a great deal of attention. Investors are looking to buy DEFC and get on the grounds of something that could revolutionize the DeFi market. With the hype that the market already got, DEFC could definitely be huge.

DEFC: Availability and Price Movements

DeFi Coin is currently trading at $0.684. The asset’s price has dropped 56.09 percent in the past 24 hours, and it is currently 57 percent off its all-time high of $1.60.

The drop might be alarming, but this isn’t out of the ordinary for an asset that only launched this week. Big gains and drops are expected.

For now, the drop is also understandable. The crypto market is experiencing a bit of a downturn, stemming mostly from the anticipated release of over $1 billion worth of Bitcoin from Grayscale Investments.

The BTC was locked earlier this year when the market was still riding its bullish wave. If investors get their tokens and aren’t willing to hold on, this will trigger a massive selloff that will drag Bitcoin down – and, by extension, the entire market.

TradingView data shows that Bitcoin’s dominance in the crypto market has been rising since the downturn began. This means that the asset has a greater chance of dragging others in any direction it goes. If Grayscale’s liquidation takes Bitcoin below the $30,000 mark, the market could slide again.

But, downturns don’t last forever. Assets with the most important use cases will be the ones to bounce back best, so you should feel confident enough to buy DEFC.

If you’re looking to buy DEFC, there’s a lot of encouraging signs. The asset’s relative strength index (RSI) is at 24.94, and it is only a few points off its 20-day moving average (MA) of $0.87.

As stated, DEFC just recently launched. The asset isn’t available on the major exchanges just yet, but its availability is picking up steam. If you want to buy DEFC, there are several available platforms for you.

Last month, DEFC was added to Vietnam-based cryptocurrency exchange VinDAX. It launched at a price of $0.20 on the exchange. Two days ago, BitMART added the coin to its exchange as well.

If you’re looking to buy DEFC, you’ll be glad to know that BitMART is having a promo for the asset. The exchange is giving away 40,000 DEFC, in a trading competition that will take place on July 20. Up to 50 BitMART customers are eligible for tokens, and you could be one of them.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.