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BTC $43221.14 (1.15%)
ETH $3043.64 (4.63%)
USDT $1.00 (-0.0%)
BCH $511.23 (-0.5%)
BSV $130.34 (-3.3%)
LTC $151.46 (-0.5%)
BNB $347.67 (-0.8%)
ADA $2.25 (-6.1%)
DOGE $0.20 (-1.5%)

Upcoming DeFi Space Surge: SushiSwap, Aave on the Lead

Upcoming DeFi Space Surge: SushiSwap, Aave on the Lead
  • The much-awaited DeFi space surge is coming.
  • The DeFi app SUSHI takes the lead in the DeFi bullish rally.
  • Aave remains competitive with its bullish price.

The continued development and trust of the investors in the DeFi ecosystem might trigger the much-awaited DeFi space surge. As a result, the DeFi market is now being closely watched by traders and investors globally. Today, the DeFi space total value locked (TVL) remains to be over $1 billion with a growth rate of +10.5% in the last 30 days.

This great performance within the DeFi space made the DeFi enthusiast, SmartContracter, react in a tweet post:

Based on the graph presented below, the DeFi SushiSwap (SUSHI) trades at a high price of $0.0001212 against Bitcoin. It also displays the crypto’s growth rate performance of +259.1% in the past 30 days. Following this, the traders don’t have to worry about the bears in the meantime since the crypto positions above the Fibonacci level of 0.236.

However, the relative strength index (RSI) of the crypto is now above level 61. Hence, the traders must be aware that the crypto might have a price pullback.  To prevent a price pullback, the crypto must maintain and invite more investors into the platform.

SUSHI Fibonacci and RSI (Source: TradingView)
SUSHI Fibonacci and RSI (Source: TradingView)

On the other hand, the previous king of the DeFi app, Aave, remains competitive. It trades at a bullish price of $81.28 with an increased rate of +47.7% in the last 30 days. Best of all, more DApps in the market are in an uptrend position. This is an indication that the DeFi rocket high is coming anytime soon.

Read More: Top 10 DeFi Tokens by Market Capitalization

A dedicated market analyst focused on the highs and lows of the cryptocurrency market. With a background in Business Administration, he tries to unfold his financial perspective to global readers.