April 21, 2021 · 4 min read
Weekly Momentum Pairs 21 April 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 $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 20th 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 20th April 2021
Token spotlight 💡
7d price change: +72.5%
About: Amp token is a collateral token that provides instant value transfer and assurances for pending or future transactions. The best strategy for the AMP token in the past week was to buy and hold AMP token. Providing liquidity in the WETH-AMP pool on Uniswap generated 30.1% of return.
7d price change: +20.90%
About: The Maker token is a governance token of Maker. The platform is known for its stablecoin DAI, which is minted when a user deposits their crypto holdings as a collateral in Maker’s credit protocol. MKR is used to maintain DAI’s value close to $1. The best strategy for the MKR token in the past week was to buy and hold MKR token. Providing liquidity in the WETH-MKR pool on Uniswap generated 14.4% of return
Best Performing Tokens in the last week 🚀
Maker (MKR), also featured in Momentum Pairs of the week, is the best performing token in the past 7 days with 20.9% of price increase. Maker pioneered the stablecoin space with its DAI.
Ampleforth is an algorithmic stablecoin that maintains its $1 USD peg with elastic supply of tokens. Ampleforth’s market capitalization currently stands at $345.6 million which comes 10th in the stablecoin market. Tether is the most used stablecoin with a $48.7 billion market cap, followed by USDC’s $12.9 billion.
Enzyme Finance is an asset management protocol that allows any users to create investment strategies leveraging various DeFi building blocks - from framing, lending to derivatives. Enzyme users can also subscribe to different strategies with proven track record, freeing them from day-to-day hassles.
BadgerDAO brings Bitcoin in DeFi. BadgerDAO’s DIGG token is a synthetic rebasing asset that simulates the price of Bitcoin. The project also launched vaults called SETTs. SETTs enable automated yield strategies for Bitcoin.
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 20th April 2021
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