Weekly Momentum Pairs 28 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 $117 billion. The graph below shows the growth of the DeFi market in the past three months.

Source - CoinGecko up to 27th 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 27th April 2021

Token spotlight 💡

Polygon (MATIC)

Price: $0.59

7d price change: +79.6%

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.

Mirror (MIR)

Price: $10.29

7d price change: +5.6%

About: Mirror Protocol is a Terra-based synthetic asset issuance platform that enables users to gain price exposure to any asset - from cryptocurrencies, fiat currencies, commodities to indices and more. Users can mint synthetics by locking in mAssets (synthetic assets created via Mirror protocol) or UST (Terra stablecoin). The most traded assets in Mirror Protocol are MIR, mUSO (United States Oil Fund) and mTWTR (Twitter). The best strategy for MIR in the past week was to provide liquidity in the MIR-WETH liquidity pool on Uniswap which generated 9.9% of return.

Best Performing Tokens in the last week 🚀

Quickswap is the fork of Uniswap, the market dominating Automated Market Maker. Compared to Uniswap’s $8.82 billion liquidity, Quickswap’s $210.2 million seems minuscule. However, Quickswap’s liquidity has increased by more than 70% in the past week compared to Uniswap’s 8%. Quickswap leverages Polygon’s technology featured in this week’s Momentum Pairs Insights above.

Alpaca Finance is a yield farming protocol built on Binance Smart Chain. Alpaca Finance allows up to 6x leverage in yield farming. The pool that allows the largest leverage is USDT-BUSD poon on Pancakeswap. There is currently $1.1 billion TVL in Alpaca lending pools.

Serum is a decentralized exchange built on Solana. Serum is developed by the team that created FTX exchange. Serum uses the orderbook model and has a transaction fee of $0.00001 per transaction.

Raydium is an automated market maker built on Solana for Serum DEX. Raydium users have access to the order flow and liquidity of Serum DEX. The most traded pair on Raydium is SOL-RAY with a $30 million 24h trading volume and $108.5 million in liquidity.

Injective Protocol is a decentralized derivatives exchange backed by major VCs including Binance Labs, Pantera, Hashed and more. Injective protocol uses a 0x-based decentralized orderbook model.

The table below summarises the best performing tokens last week.

Source: Novum Insights Up to 27th April 2021