Daily DeFi Watchlist: ALPHA, AAVE, HAKKA, YFI

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In the DeFi space, there are dozens of different projects and currencies to explore. Not all of these assets have value, but they can still serve speculative purposes. The following four tokens are worth keeping an eye on, primarily due to their overall trend in the past week. 

ALPHA (+123%)

The native token of Alpha Finance is seemingly going through a very bullish period in recent days. Noting a strong 123% gain for the week, there is some reason to be cautiously optimistic. Chasing the uptrend is asking for trouble. However, with a fresh all-time high hit just 8 days ago, anything may prove possible in the weeks and months to come. 

As far as the recent price surge is concerned, most of it seems fueled by the Alpha Homora platform. It is the most recent addition to the overall Alpha Finance ecosystem. Users can benefit from significant interest rates, as even Ethereum offers an 8% lending interest today. Participants of this platform also need to claim their ALPHA tokens ahead of the next Liquidity Mining phase kicking off soon. 

AAVE (+104%) 

Interesting things are happening for the Aave Protocol recently. Following the transfer of governance power to the community, the system is a bit more decentralized than it was before. There are also some new proposals underway regarding the LP tokens for liquidity providers. It is crucial for DeFi projects to keep evolving, otherwise users will begin losing interest.

From a speculative point of view, AAVE is doing well in recent days. A net 104% gain has been noted in the past week, albeit there is some market pressure today. Considering how a new all-time high was set 15 hours ago, that is to be expected. Surprisingly, AAVE also hit an all-time low just 6 days ago. Very volatile as an asset. 

HAKKA (+98%)

If you haven’t heard of Hakka Finance by now, don’t be discouraged. Very few people seem to be aware of what is going on, simply because there are so many new DeFi projects launching every single week. The Hakka Finance project is getting some attention due to upcoming changes to liquidity mining. Whether that influences the price at all, is a different matter. 

As far as the HAKKA token is concerned, it noted some solid momentum in the past week. Noting a 98% gain is pretty significant, albeit there are questions regarding its sustainability. Considering how this asset is bouncing of a recent all-time low, caution is advised. HAKKA is still down by 96% compared to its all-time high 2 months ago as well. 

YFI (+87.1%)

Perhaps one of the “oddest” assets in all of DeFi today, YFI continues to note a very high value per token. Even at a value of just under $17,300, there are still ample people who claim this token is undervalued. Considering its all-time high of $43,678.11 a few months ago, there may be some merit tot hat idea. It is equally possible this asset continues to be overvalued, depending on whom you ask. 

Putting all of that aside, YFI has noted a 87.1% gain in the past week. It is facing a lot of market pressure currently, thus the value is likely to fluctuate a fair bit in the coming hours. The recent passing of YIP-51 may also have an impact on the price, even though it seems to be a positive change for all users. There’s also the YIP-52 proposal to keep an eye on. 

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