It has been another painful week for a lot of DeFi assets and altcoins. Not entirely surprising, as Bitcoin hasn’t had that great of a week either. The following assets may be worth picking up at current prices.
YFI Loses Over 40%
Looking back at the past seven days, YFI has fallen on very hard times. Once valued at over $40,000 per coin, the DeFi asset is now drifting to the mid-$14,000 range. While it can recover with a bit of momentum and hit $18,000 without too many problems, it seems unlikely the previous all-time high will be reached again in the near future.
UMA Keeps Going Lower
Not that long ago, it became apparent that UMA was losing a lot of ground. This past week has been no different, resulting in another 36% decrease in value. It is still valued at just under $6, which may very well be a steal in the eyes of some. Turning the momentum around will pose many challenges.
UNI has hit a Rough Patch
Ever since Uniswap’s UNI token was airdropped to thousands of users, it has faced some problems in the price department. Given the current momentum, a return to $8 or higher is entirely out of the question, in the short term. That said, a strong push to $4 in the coming days seems somewhat plausible.
eGLD is Struggling a bit
Many people will be surprised to see Elrond down by over 28% in the past 7 days. Following the successful token swap, the overall trading volume has started to dry up a bit. As such, a price dip isn’t entirely abnormal, as it takes less volume to move the market in either direction. For the time being, a recovery to $8 will be the first order of business.
NXM Needs Volume
Even though the business concept by Nexus Mutual is solid, traders aren’t too bothered by NXM, it appears. Just $876,000 in 24-hour volume is anything but impressive for such a token. At the same time, there are a lot of altcoins and DeFi assets struggling for trading volume right now. It seems to be a matter of time before NXM surpasses $35 again, but staying there will be a different matter.
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