Doc's Daily Commentary

Mind Of Mav

5 DeFi Tokens We’re Watching Into May

 

Terra (LUNA)

Terra is quickly becoming the top cryptocurrency in the market, and it’s showing no signs of stopping. Not only has its token’s value grown, but its overall market cap is growing faster than many other cryptocurrencies. In the last week, Terra has taken significant steps to solidify its position as one of the strongest cryptocurrencies available. It has overtaken other strong coins, such as Cardano (ADA) and Avalanche (AVAX). 

LUNA is currently priced at $95.70 and ranks #8 on CoinMarketCap. LUNA also has a supply of infinite coins with a market cap of 33.7 billion dollars.

In the 1D timeframe, the price action of $LUNA/USDT broke down the Rising wedge but then bounced back from the Horizontal Support level.

Luna Price Charts
LUNA Price Charts

Uniswap (UNI)

Uniswap Labs Ventures, their newly formed division, will invest in companies across various stages of web3. They will focus on various aspects such as infrastructure and developer tools, and consumer-facing applications. UNI price changes when the honeymoon phase ended proved valuable for early adopters.

UNI is currently priced at $9.21 and ranks #24 on CoinMarketCap. UNI also has a supply of 1,000,000,000 coins with a market cap of 6.3 billion dollars.

On the 1w timeframe, $UNI/USDT is trading downwards, and the price action respects the Horizontal Support level.

Uni Price Charts

Avalanche (AVAX)

Ava Labs, the primary developer of Avalanche, is reportedly raising $350 million in new funding at a $5.25 billion valuation. Experts predict the next 12 months will see AVAX around the $152.54 mark, so it might be worth looking at it closely if you’re considering a long-term investment opportunity.

AVAX is currently priced at $78.46 and ranks #10 on CoinMarketCap. AVAX also has a supply of infinite coins with a market cap of 21.1 billion dollars.

On a daily timeframe, the price action of $AVAX/USDT formed out the Symmetrical. Triangle pattern where the price action is playing out within the ranges of Support and Resistance level

Avax Price Charts

Theta Network (THETA)

Theta wants to make online video streaming more affordable for networks. They operate a network of shared content, and the latest of their releases is called the “Meta chain” upgrade. The Theta Token is a potentially good investment as its real-world use case is one of the best.

THETA is currently priced at $3.07 and ranks #41 on CoinMarketCap. THETA also has a supply of 1,000,000,000 coins with a market cap of 3 billion dollars.

On 1w timeframe, the price action of $THETA/USDT showed a downtrend and broke down the Horizontal Support level.

Theta Price Charts

Frax Share (FXS)

Frax is the first fractional-algorithmic stablecoin. Its main innovation was using crypto-collateral and an algorithm to help stabilize its price. Based on the trend that’s been happening in the financial sector, you might see a positive future for the FXS, and it might be great for investing purposes and making some money.

FXS is currently priced at $36.47 and ranks #119 on CoinMarketCap. FXS also has a supply of infinite coins with a market cap of 591 million dollars.

On the 1D timeframe, the price action of $FXS/USDT broke out the Market Price action and formed an impulsive wave until its previous ALL TIME HIGH Level and got rejected from there and currently respecting gout Horizontal Support level zone.

Fxs Price Charts

The ReadySetCrypto "Three Token Pillars" Community Portfolio (V3)

Add your vote to the V3 Portfolio (Phase 3) by clicking here.

View V3 Portfolio (Phase 2) by clicking here.

View V3 Portfolio (Phase 1) by clicking here.

Read the V3 Portfolio guide by clicking here.

What is the goal of this portfolio?

The “Three Token Pillars” portfolio is democratically proportioned between the Three Pillars of the Token Economy & Interchain:

CryptoCurreny – Security Tokens (STO) – Decentralized Finance (DeFi)

With this portfolio, we will identify and take advantage of the opportunities within the Three
Pillars of ReadySetCrypto. We aim to Capitalise on the collective knowledge and experience of the RSC
community & build model portfolios containing the premier companies and projects
in the industry and manage risk allocation suitable for as many people as
possible.

The Second Phase of the RSC Community Portfolio V3 was to give us a general idea of the weightings people desire in each of the three pillars and also member’s risk tolerance. The Third Phase of the RSC Community Portfolio V3 has us closing in on a finalized portfolio allocation before we consolidated onto the highest quality projects.

Our Current Allocation As Of Phase Three:

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The ReadySetCrypto "Top Ten Crypto" Community Portfolio (V4)

Add your vote to the V4 Portfolio by clicking here.

Read about building Crypto Portfolio Diversity by clicking here.

What is the goal of this portfolio? 

The “Top Ten Crypto” portfolio is a democratically proportioned portfolio balanced based on votes from members of the RSC community as to what they believe are the top 10 projects by potential.
This portfolio should be much more useful given the ever-changing market dynamics. In short, you rank the projects you believe deserve a spot in the top 10. It should represent a portfolio and rank that you believe will stand the test of time. Once we have a good cross-section, we can study and make an assessment as to where we see value and perhaps where some diamonds in the rough opportunities exist. In a perfect world, we will end up with a Pareto-style distribution that describes the largest value capture in the market.
To give an update on the position, each one listed in low to high relative risk:
SoV/money == BTC, DCR
Platforms == ETH, XTZ
Private Money == XMR / ZEC / ZEN
DeFi == MKR / SNX and stablecoins
It is the most realistic way for us to distill the entirety of what we have learned (and that includes the RSC community opinion). We have an array of articles that have gradually picked off one by one different projects, some of which end up being many thousands of words to come to this conclusion. It is not capitulation because we all remain in the market. It is simply a consolidation of quality. We seek the cream of the crop as the milk turns sour on aggregate.

Current Top 10 Rankings:

 

 

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