Decentralized Finance

Is It The Right Time to Enter DeFi? Ardana, VeChain, Ecomi Price To Boom DeFi Season!

Written by: Elena R

November 5, 2021

The global crypto market cap has been pumping hard claiming higher highs of around $2.8 trillion. The top market leaders have sailed to higher highs with a huge inflow of institutional money. However, as they have a short rest, DeFi space takes over the charge with a massive surge in the respective tokens. 

DeFi space holds a total of $158.06 billion market cap with significant gains since the start of Q4. Terra Luna was the top trending token in the space with 17.30% gains followed by Avalanche with 23.68% gains over the past 7 days. Meanwhile, lesser-known coins such as VeChain, Ecomi, and Ardana have been chugging up hard to claim the higher ranks. 

VeChain (VET):

VeChain has been displaying massive volatility since the start of the quarter. The VET price has almost soared by more than 70% surge from $0.08676 to $0.143 at the press time. To keep up the momentum, the ecosystem has come up with an exciting initiative to introduce its own governance token and yield farming program to allow traders to exploit maximum benefits out of the launch. 

The VeChain platform has been growing up at an intensive pace, their first decentralized exchange and Automated market maker (AMM) termed VEX has scheduled to launch their own governance token on November 9th, 2021. The key goal behind the launch is to maximize the rewards. Hence, the VET price has the strong potential to take forward its momentum in the rest of the quarter. 

Ecomi (OMI):

The Ecomi coin has been one of the least known coins across the space has been marking higher highs since the past week. The DeFi token has almost surged by over 10% round the clock reaching $0.007462 at the press time.

 Ecomi token was backed by VeVe, an NFT platform. The digital collectible platform has recently announced a collaboration with The United States is postal for exclusive NFTs. As per the partnership agreement, the platform will launch its debut official USPS NFTs on the blockchain. Therefore, the OMI token price has a solid potential to soar to new highs. 

Ardana (DANA):

Cardano-backed DeFi token Ardana has recently raised $10 million from the tech firm Three Arrows Capital.  The platform has been developing two products Danaswap, a decentralized exchange, and dUSD, a stable coin. The stable coin has planned to allow traders to take loans against the Cardano ecosystem like its native token ADA. Besides, DEX enables traders to earn rewards by dUSD deposits.

Collectively, the crypto space was awaiting the altseason after the intense run of Bitcoin and Ethereum. Interestingly, the DeFi world exhibiting green signs on the chart with incredible gains. Hence, the aforementioned coins too possess the solid potential to explode in the near term as they are attempting to reach larger community base. 

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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