DeFi Coin (DEFC), the native token of the DeFi Swap decentralised exchange, has started to form an ascending triangle since the beginning of June.
The technical price set-up comes after a failure to break through resistance at $0.40, but with a promised addition of more trading pairs and a deficoins.io website revamp both delivered last week, the ecosystem’s investors have plenty to cheer about.
Also, the DeFi Coin price floor is ranging around the $0.33 area and a bullish ascending triangle can be seen in the chart above. If the buyers continue to bid then resistance at $0.35 and $0.40 back in the frame.
DeFi Coin sees favourable constellation of fundamentals and news flow
The green shoots of a price reversal appear at the same time as the wider crypto market shows the first signs of bottoming, although crypto enthusiasts will be aware that if stocks falter, so too might crypto.
Still, for now the constellation of news flow and coin fundamentals is looking favourable for DEFC as the week begins.
The small bullish triangle forming at the convergence points of a descending triangle, which in itself is a bearish signal, caps off a period of perhaps premature advances that were eventually knocked back at the end of May, with the failure of the bull flag to follow through with a retrace higher above $0.40.
Cryptoassets are a highly volatile unregulated investment product.
Ecosystem dev work continues – with more pairs added
DeFi Swap now lists more than 80 new crypto assets that can be traded against nine common bases, including DEFC.
With a large increase in the number of swap pairs, it opens up the exchange to greater opportunities to build up liquidity.
Liquidity providers earn a 0.25% fee on all swaps in proportion to their share of the pool. Fees are added to the pool, accrue in real time and are claimed by the provider withdrawing their liquidity.
If that’s not reasons enough to consider investing in DEFC, then here’s 10 reasons why DeFi coin is the best up and coming crypto to invest in.
DeFi Swap plans for a multichain future
DeFi Swap is based on the Binance Smart Chain but is shifting to a multichain architecture which will further widen the options for liquidity providers and staking.
A bridge to the Ethereum chain, which is still by some distance the dominant DeFi platform despite the higher gas fees and chain congestion issues, will steal a march on the likes Pancakeswap.
The Pancakeswap DEX is not multichain and has no plans to go down a multichain route.
The website makeover at deficoins.io has also been rolled out. The site now features clearly set out advantages of holding DEFC and using DeFi Swap.
Yields of up to 75% APR are available. Token holders together receive 50% of the 10% tax on sell and buy transactions. The other half of the tax revenue goes to the DEFC/BNB liquidity pool, ensuring efficient price discovery.
And with the burn programme coming soon, which will reduce the supply of DEFC and thereby strengthen the token’s price, there is every incentive to join the DeFi Coin/DeFiSwap ecosystem at the earliest opportunity.
The website now informs visitors that the DEFC token has been fully audited by Solid Proof.
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Related DeFi News and Analysis
DeFi Coin (DEFC) - Undervalued Project
- Listed on Bitmart, Pancakeswap
- Native Token of New DEX - defiswap.io
- Up to 75% APY Staking
- Whitepaper and DeFi Tutorials - deficoins.io