NewsPrice Analysis

YFI, LEND, MKR Losing Value! Good Time to Buy?

Author: Sohrab Khawas

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    Highlights
    • Among the gainers, there are some cryptos that are expected to give good returns in the coming days.

    • The cryptos can be considered for a ‘BUY’ if you are planning to invest.

    The crypto space seems to enter a retracement phase, with the major cryptos like Bitcoin, Ethereum, XRP, LTC, etc get painted in green. However, many other assets within the space have the potential to provide good returns.

    If you already have major digital assets in your portfolio and looking out for other tokens to add up, then this composition is for you!

    Let us have a look at the list of promising assets.

    Yearn.Finance(YFI) 

    YFI chart

    YFI token has managed to giant the market traction form the very first day since inception. The token had reached its peak of around $40,000 but unfortunately dipped below $15000 levels. Currently, YFI is priced at $16,431 with a dip of 2.91 percent.

    Regardless of its dip, the digital asset is expected to bounce back to record levels. As in the chart, a point is to be noted that, the 24-hour trading volume has increased like never before. It clearly signifies that the investors are stacking up the digital asset at the ‘DIP’. 

    Therefore, considering the fact that YFI had always proved a better investment, YFI still can be considered as one among the other top assets in your portfolio.

    Also Read Yearn.Finance Price Prediction in 2020. Will YFI Price Reach $20,000?

    Aave(LEND)

    LEND

    Aave after a slight rejection has managed to soar in the last 24 hours. LEND is priced at $0.510926 with a correction of 0.18 percent. LEND is considered one of the most valuable DeFi tokens after LINK. 

    The currently upgraded version of Aave holds great promise for stakeholders and borrowers as well. Therefore, this might initiate the next leg which has mostly begun. With the recent announcement of raising $25 million from ventures and migration of LEND to Aave, LEND price is expected to shoot up very soon.

    Also Read: What to Expect in the Cryptocurrency Market Forecast by 2020?

    Maker(MKR)

    MKR chart

    Maker(MKR) is the governance token for MakerDAO and Maker Protocol, a decentralized organization and a software platform respectively based on Ethereum blockchain. MKR price is currently, $551.60 with a dip of $3.14 percent in the kast 24 hours.

    Apart from these digital assets, DAI which is a crypto-backed stablecoin can also be considered. With a market capitalization of nearly $917 million, DAI is currently down by 0.11 percent with the price of $1.01. However, the price is not expected to pump and dump with a great margin but DAI has its own benefits which could probably attract investments.

    Interesting Read: Top Cryptocurrencies You Can Keep Track of This Week

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