Daily DeFi Watchlist: SYN, CREAM, IDEFI, DFD, IETH

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CryptoMode Staking Altcoins DeFi

Even though Bitcoin’s price momentum is not what people want to see, there is still good money to be made. Rather than shorting the market, the following DeFi tokens have offered an alternative way of netting a profit. How long that trend will continue, remains unclear.

SYN (SynLev)

As a relatively unknown DeFi project, SynLev seems to attract a fair bit of attention during this bearish market period. Its approach to offer synthetic leveraged asset tokens can have some merit, for those who like taking risks. The value of the native SYN token has risen by 58.3% today, pushing it that much closer to reaching a new all-time high. 

CREAM (Cream Finance)

To most, it will not be entirely surprising to see CREAM note a strong bounce. As one of the more popular DeFi tokens, the platform remains prominent in the decentralized finance industry. Thanks to a 45% increase in value,  one CREAM is now worth $67.41.  It is still 76% lower than the all-time high, but prominent momentum regardless. 

IDEFI (iDeFi)

As one of the many tokens that make up the Synthetix ecosystem, iDeFi seems to be on a lot of people’s radar all of a sudden. It is valued at over $2,560, thanks to today’s 37.6% price rise. This is not an all-time high, as that is still 54.8% away. Even so, it is showing some similarities to YFI in the price department. 

DFD (DefiDollar)

It is the second time in relatively quick succession that DFD makes the DeFi watchlist. While it may not have the highest value per individual token, it is capable of appreciating by over 26% in one day. Given the current market momentum, such strong gains are hard to pass up on. Considering how this asset reached an all-time low 4 days ago, caution remains advised. 

IETH (iETH)

The second asset of the Synthetix ecosystem to make the list today is iETH. Although some people may think it only depicts Ethereum’s value, that is not the case. Unlike Ether, IETH effectively gained 19.3% in value today. The all-time high for this asset sits at $771.05, which is not that far away, all things considered. 


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