Daily DeFi Watchlist: DHT, STAKE, ORN, ADEL, ZRX

CryptoMode DeFi Watchlist Decentralized Exchange Tokens

Even though Bitcoin struggles to reach a new all-time how the overall market momentum remains bullish. For DeFi tokens, there is no lack of upward momentum as of right now. The following tokens all note prominent gains, but still remain risky investments.

DHT (dHedge DAO)

Not much new can be said about this DeFi token. It continues to note very strong market momentum on a regular basis. Thanks to another 27.6% increase on the daily chart, DHT is now valued at $1.55. With a market cap now above $10 million again, it remains to be seen what happens in the coming days and weeks. dHedge DAO’s asset has yet to be listed on a big exchange other than Huobi Global. 

STAKE (xDAI Stake)

As the first-ever USD stable blockchain, xDai is a peculiar distributed ledger. The STAKE asset, serving as a multi-chain staking token, is not required for on-chain transactions or users. Even so, it is going through strong market momentum as of late. This results in a 19.5% price increase, pushing STAKE’s value to $11.02. Even so, the DeFi token is down by 83% from its all-time high.

ORN (Orion Protocol)

There are many different reasons to pay attention to Orion Protocol. From a technology point of view, it introduces solutions that were previously thought impossible. As the development of the ecosystem continues, the ORN value appreciates in value. A net 19% increase has been recorded, yet a new all-time high will require much stronger momentum.

ADEL (Akropolis Delphi)

It is always interesting to see other DeFi tokens make a name for themselves. ADEL is the native token of Delphi, a solution to compound yields and DCA for Bitcoin and Ethereum enthusiasts.  Throwing together all of these use cases can eventually lead to a powerful solution. Although Delphi suffered from a Savings Pool Exploit recently, the ADEL value is still rising. A 16.3% increase brings the price to $0.32, a 75% improvement compared to the recent all-time low.

ZRX (0x)

Even though some people have forgotten about ZRX, it is still a viable currency. The native 0x project seems to be gaining some momentum again. As a result, the value of ZRX has risen by 13.8% to $0.505. Considering how dormant this market has been for a while, this is not necessarily a cause for excitement.  The ATH for ZRX was reached over 3 years ago, thus caution remains advised. 

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