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.

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.

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

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.

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.