As Bitcoin continues its bullish momentum, the DeFi token market cap has surpassed $17 billion. A big milestone, primarily contributed to by a few currencies noting strong momentum. Always invest with caution, as these markets remain unpredictable.
INDEX (Index Cooperative)
For the second time in less than a week, INDEX notes very strong gains on the daily chart. A net increase by 92.2% has been recorded, elevating its price to $13.81. This is still over 50% removed from the all-time high, but it is also a 934% increase compared to the all-time low recorded 11 days ago. If this uptrend continues, reaching a market cap of $10 million will be within reach.
It is rather uncommon for native exchange tokens to note strong gains, with the exception of Binance’s BNB. In the case of MXDex’s MCB, there is a strong 39.4% gain over the past 24 hours. At its current value of $2.27, MCB seems to have escaped the gravitational velocity of its all-time low, recorded 18 days ago. Returning to the ATH of $15.75, however, will be a different matter altogether.
Although this current has not appeared on our Daily DeFi Watchlist yet, HEGIC is certainly turning a lot of heads right now. With a 22.5% increase in value, the asset is now valued at $0.276. This is just below the all-time high, recorded less than an hour ago. Considering how Hegic is an options trading platform, this token may provide holders with some core benefits. After all, that is what native exchange tokens are often designed for.
BNT (Bancor Network Token)
Even though some people have seemingly given up on Bancor, the project is still going strong. We dedicated an entire article to the project and what is so promising about it now and in the near future. It seems that holders of BNT are pleased with the developments, resulting in a 23.2% increase in value today. At a value of $0.91, BNT is still 91.7% removed from the all-time high of $10.72. Returning to that ATH will be anything but straightforward, though.
DHT (dHedge DAO)
Another newcomer on the list goes by the name of dHedge DAO. According to its website, dHedge wants to build a decentralized asset management protocol on the Ethereum blockchain by leveraging Synthetix technology. The native DHT token notes a 18.5% gain in value, which is a welcome sight after its all-time low recorded 12 days ago. Given how its all-time high is still 70.5% away, things can get pretty interesting in the near future.