Weekly Momentum Pairs 14 April 2021

Momentum Pairs

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 $114 billion, up 6.5% since last week. The graph below shows the growth of the DeFi market in the past three months. 

Source - CoinGecko up to 13th April 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 13th April 2021

Token spotlight 💡

Zero Exchange (ZERO)

Price: $0.29

7d price change: +64.4%

About: Zero Exchange is an AMM DEX built on Avalanche. Zero Exchange reached $600 million in trading volume and the most traded pair on Zero is ZERO/AVAX which accounts for 68.92% of the volume. $ZERO is also listed on a major centralized exchange Bithumb. 

1inch (1INCH)

Price: $5.47

7d price change: +3.9%

About: 1inch is a DEX aggregator that finds the best swapping route across leading DEXes including Uniswap, Sushiswap, Balancer, Bancor, Kyber and more. 1inch has recently launched 1inch Network, a collection of DeFi instruments. Apart from the existing DEX aggregator and liquidity protocol, 1inch introduced 1inch DAO which lets $1INCH stakers participate in the project governance. 

Best Performing Tokens in the last week 🚀

Bounce Finance, a decentralized auction protocol providing competitive swaps, increased the most in the past week with a 61.1% growth. Last week, Bounce Finance’s BOT token saw a 121.2% growth. The company has recently raised a new funding round to develop an NFT auction house. Users can migrate BOT tokens to new AUCTION tokens, which allows users to participate in Bounce auctions. AUCTION token increased by 44.50% in the past week.

Pancake Bunny is a yield aggregator running on Binance Smart Chain, one of the Ethereum challenger networks. As the name suggests, Pancake Bunny allows users to earn Pancake Swap’s $CAKE tokens. Currently there are more than $2 billion deposited in Bunny. The yield maximizer’s BUNNY token increased by 54.5% last week. 

Venus is a decentralized lending protocol built on Binance Smart Chain. Users can also post collaterals in Venus and mint VAI, an overcollateralized stablecoin pegged against USD. The protocol’s governance token XVS has increased by 43.50% in the past week.

PancakeSwap is a DEX built on Binance Smart Chain. The DEX’s native token CAKE has risen by 42.1%. PancakeSwap holds liquidity of $2.9 billion and over 9000 pairs are listed on the exchange.

The table below summarises the best performing tokens last week.

Source: Novum Insights Up to 13th April 2021

With Pancake Swap, Pancake Bunny and Venus included on the top performing tokens, this week is a win for Binance Smart Chain (BSC). BSC’s all-time-high transaction volume of 5 million transactions exceeded 1.3 million on Ethereum. As more and more projects move away from Ethereum’s deep-seated problem gas fees and start supporting Binance Smart Chain, Avalanche and more, Ethereum faces some serious contenders.

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