May 12, 2021 · 4 min read
Weekly Momentum Pairs 12 May 2021
Momentum Pairs is a Uniswap liquidity pair tracker. Novum Insights’ analyst team reviews the best performing pairs on Uniswap over a 7-day, 30-day and 90-day periods. These pairs are a useful part of a diversified portfolio, but also some of the highest risk, but also the highest return. Novum is providing information on how to help people increase their odds of picking the higher returners, and minimize exposure to the biggest risks.
🎉 We are excited to announce that we now track Momentum Pairs that are also on major exchanges - Binance, Coinbase, Kraken and FTX!
The growth of the DeFi Market 📊
The size of the DeFi sector is now a billion dollar industry worth $138 billion. The graph below shows the growth of the DeFi market in the past three months.
Source - CoinGecko up to 11th May 2021
Pairs to watch 📈
The table below shows interesting pairs to watch sorted by 7 day HODL performance. The upper and lower performances of each pair indicates the performance of liquidity provision strategy and buy and hold strategy by 7 days.
Source - Novum Insights up to 11th May 2021
Token spotlight 💡
7d price change: +366.6%
About: FEG token is a deflationary token with a maximum circulating supply of 100 quadrillion on Ethereum and Binance Smart Chin combined. The project aims to provide a decentralized transaction network. The FEG token also serves as the governance token of FEGex, a decentralized exchange. On FEGex, users can launch multi-asset pools with weighted proportions and provide or remove one-sided liquidity. The best strategy for FEG in the past week is to buy and hold FEG which gave a 366% return.
7d price change: +7.1%
About: Polygon is a platform for layer 2 scaling solution for Ethereum. Polygon aims to avoid Ethereum’s high congestion and gas fees. Well-known projects leveraging Polygon blockchain include Polymarket, one of the most leading prediction markets, Aavegotchi, interest bearing NFTs, and Quickswap. The best strategy for MATIC is to provide liquidity for MATIC-WETH on Uniswap.
Best Performing Tokens in the last week 🚀
Wault Finance is an AMM DEX running on Binance Smart Chain along with PancakeSwap and MDEX. The protocol’s WaultSwap coin was launched less than a month ago, and it has shown impressive growth of 154% in the past week. The protocol’s TVL is expected soon to reach $1B. Other than facilitating atomic swaps, Wault Finance also provides, yield farming, staking, vaults and launchpads.
Lido is a staking protocol Eth 2.0. With Lido, Eth 2.0 stakers can issue stETH tokens to use in various DeFi platforms such as Curve, 1inch, Yearn and Harvest Finance. With the price of Ethereum hitting all time highs over $4,000, the LIDO token increased by more than 90% in the past week.
DerivaDEX is a crypto derivatives exchange built on Ethereum. DDX is the native token of the protocol and can be used to govern the project through DerivaDAO.
ETH 2x Flexible Leverage Index is one of the portfolios (called Sets) created by DeFi Pulse featured in TokenSets. The index allows holders to gain a leveraged exposure to Ethereum by taking a collateralized debt position. Compound is used as a lending protocol, and the current market cap and number of holders of this index is $110M and 1832 respectively. TokenSets is a crypto asset management protocol that lets users create portfolios and follow existing strategies built by other users. There are currently 9 featured Sets.
Tellor is a decentralized oracle that connects off-chain data with Ethereum smart contracts. Oracles are a key building block in DeFi as reliable real-life price data feeds are required to build various DeFi products ranging from swaps to loan collateralization. Tellor’s competitors include Chinlink, DIA and Band.
The table below summarises the best performing tokens last week.
Source: Novum Insights Up to 11th May 2021
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