NewsPrice Analysis

Top DeFi Gainers: UNI 50%, SUSHI 25%, MKR 4%

Things seem to be returning to normal as Bitcoin strides towards the $11,000 area. While the top cryptocurrency makes this important move, there is also this Uniswap narrative which has been the talk of the town for a few days now.

Ethereum as well as other altcoins too are making a bit of success. Defi coins, however, are the top gainers of the cryptocurrency markets today. Being led into victory by UNI, top defi tokens like SUSHI and MKR are nurturing a bull market.

#1. Uniswap (UNI 48% Gain):

uniswap trading chart

UNI airdropped at least 400 Units of UNI tokens to thousands of users. While this caused great excitement among crypto enthusiasts lately, the coin also caught a bullish momentum.

UNI coin has gained around 50% since yesterday. The coin has an excellent market sentiment among traders voting for a prolonged bull market as the quarter proceeds.

In the 24-hour timeline, the coin is up almost 50% and the bullish movement seems to still be intact.

Technical Points

  • General price trend is bullish
  • Major price support is set at $3.0
  • Next level of possible resistance lies at $6.

At the time of writing this piece, UNI is trading at $5.71. Its market cap is hovering around $368 million.

#2. SushiSwap (SUSHI 26% Gain):

Sushi swap

SUSHI makes the second position on today’s list of top gainers. Although, its price, within the last two weeks was dangerously depressed due to an alleged exit scam purported by its creator. Dumping over two million in SUSHI tokens to ETH, the panic left SUSHI’s community in disarray.

As of now, the market attitude towards SUSHI is gradually improving. With around 60% pessimism, traders believe the tokens may soon plunge into another bear market.

The token is only about 2 weeks old and has made around 25% loss since last week. No other time frame exists except for 2-week in which the coin amazed around 64% loss.

SUSHI is now changing hands at $1.78 amid a market cap hovering around $178 million.

Technical Points

  • SUSHI overcame the failed the support at $2.0 and is now testing the next support at $1.5
  • Next level of major support lies at $1.5.
  • Next key resistance level at $2.0

#3. Maker (MKR 3.6% Gain):

Mkr

Maker is the last coin on today’s list. The coin although, not with much gains, made a little profit of 3.6% since yesterday.

MKR has a decent market emotion. There’s 50% optimism that MKR will trade positively as the trading day matures.

With 5.0% 60-day gain, MKR lost around 10% in the 7-day timeframe. There’s also 1.4% yearly gain.

MKR is currently changing hands at $492. Its market cap is around $430 million while 24-hour trading volume hovers around $53 million.

Technical Points

  • Next major resistance level at $495
  • Next major support level at $485
  • Prices are currently trading horizontally.
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Dare Shonubi

Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.

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