Weekly Momentum Pairs 5 May 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 $140.3 billion, up 20% since last week. The graph below shows the growth of the DeFi market in the past three months.

Source - CoinGecko up to 5th 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 5th May 2021

Token spotlight 💡

Alpha Finance (ALPHA)

Price: $2.03

7d price change: +52.5%

About: Alpha Finance aims to create an ecosystem for various DeFi products. There is currently $1.37 billion in TVL. Alpha Finance’s Homora is a leveraged yield farming protocol on Ethereum and Binance Smart Chain. The best strategy for ALPHA in the past week was to buy and hold ALPHA.

yAxis (YAX)

Price: $40.87

7d price change: -37.9%

About: yAxis is a yield aggregator. The platform’s MetaVault allows users to deposit stablecoins DAI, USDC and USDT to be deployed to the best yield-aggregating strategy. There is currently $251 million in TVL. The best strategy for YAX in the past week was to provide liquidity in the YAX-WETH liquidity pool on Uniswap which generated 14% of return.

Best Performing Tokens in the last week 🚀

Anyswap is a cross-chain swap protocol running on Ethereum, Binance Smart Chain, Fusion and Fantom. There is currently $489 million in TVL. Anyswap has increased by 369% in the past week.

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 $1.9 billion TVL in Alpaca lending pools, up more than 70% since last week. This week’s 148.90% growth exceeds that of last week’s 134.80%.

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.

Quickswap is the fork of Uniswap, the market dominating Automated Market Maker. Compared to Uniswap’s $8.53 billion liquidity, Quickswap’s $559.2 million seems minuscule. However, Quickswap’s liquidity has more than doubled since past week compared to Uniswap’s -3.3%.

Nerve Finance is a stableswap running on Binance Smart Chain. There is currently $816 million in TVL. Tokens supported by Nerve include BUSD, USDT, USDC, BTCB, anyBTC, ETH, anyETH and rUSD. The protocol’s biggest pool is Stablecoin 3Pool consisting of BUSD, USDT and USDC.

The table below summarises the best performing tokens last week.

Source: Novum Insights Up to 5th May 2021