Daily DeFi Watchlist: IDLE, FRONT, SFI, LRC, COVER

As Bitcoin sees its price momentum stifled once again, speculators and investors flock to alternative options. The DeFi market tends to offer some relief when the main markets dip in the red. Several assets note impressive price growth during these volatile times. 

IDLE (IDLE)

It is the second this week we see IDLE on the daily DeFi watchlist. An impressive feat, as most of these assets gain value one day and see nearly all of them negated the next. In IDLE’s case, there is a 22.% price increase today, bringing its value to $9.79. A new all-time high of $11.08 has been recorded earlier today, indicating further upward potential.

FRONT (Frontier)

The Frontier project is relatively unknown in the world of decentralized finance.  Building a chain-agnostic DeFi aggregation layer has significant potential. Slowly but surely, DeFi projects begin exploring cross-chain interoperability. The FRONT value notes a price increase of 23.9%—strong momentum after hitting an all-time low just over a month ago. 

SFI (Saffron.finance)

The SFI DeFi asset has been on the daily watchlist at least once before. Although its market appears somewhat subdued most of the time, it can record gains of up to 13.2% with ease. One SFI is now valued at over $500 again, pushing it toward the half-way point to reach a new all-time high. Reaching those levels will require a lot more market momentum, though.

LRC (Loopring)

Ethereum enthusiasts will be familiar with Loopring and its scaling technology for this particular blockchain. The native asset, called LRC, is seemingly gaining some traction in the DeFi space. With a 10.5% increase in the books, LRC now has a value of $0.195. It is far removed from the all-time high of $2.4, but it is intriguing to see this market show signs of life. 

COVER (Cover Protocol)

Coverage solutions will only gain a more prominent label in the DeFi market. Far too many projects either disappear or face technical issues over time. Having a peer-to-peer coverage market in place can make a world of difference. Cover Protocol’s native COVER asset has no actual value, yet its price sits at over $807. This is partially thanks to a 10.2% price increase today. The all-time high of $978.65 is within reach. 

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