April 7, 2021 · 4 min read

Weekly Momentum Pairs April 7 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  DeFi sector is now a billion dollar industry worth $106.9 billion. The DeFi market capitalization surpassed $100 billion last Saturday. The graph below shows the growth of the DeFi market in the past three months.


Source - CoinGecko up to 6th 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 6th April 2021

Token spotlight 💡

This week, we look at the top performing projects in Momentum Pairs - Sora and Parsiq.

Sora (XOR)

Price: $902.6

7d price change: +55.1%

About: SORA Network implements a new way to design a parachain blockchain that connects to Polkadot, providing tools to build exciting dApps. Cross-chain AMM DEX Polkaswap runs on Sora. XOR is a utility & governance token used for transaction fees on the SORA Network and liquidity provision on Polkaswap. 

Parsiq (PRQ)

Price: $2.14

7d price change: +54.4%

About: Parsiq is a real-time blockchain monitoring platform that allows users to take actions on blockchain data and connect with off-chain applications or web services. Parsiq expanded into DeFi with the IQ protocol. Expected to launch in Q2 this year, the IQ protocol is designed to offer a risk-free, collateral-less lending and borrowing model. Rather than using collateral, borrowers pay a fee which is determined from the length and volume of PRQ borrowed.

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 121.2% growth. The company has recently raised a new funding round to develop an NFT auction house.

JUST builds TRON-based DeFi platforms. JST token is a decentralized governance token for the network. JUST products include: JustStable, a decentralized stablecoin system, JustLend, a lending platform on TRON, and JustSwap, a DEX for automated liquidity provision.

Erasure is a decentralized prediction protocol. Users stake NMR to participate in weekly tournaments and if the predictions are successful, they are rewarded with NMR and if they are not successful, NMR stake is destroyed. The team behind Erasure is Numerai, a hedge fund that trades equities.

THORchain is a decentralized non-custodial liquidity protocol. Users can swap any asset from any blockchain at deep liquidity. THORchain’s RUNE reached its all time high this Monday.  

Empty Set Dollar(ESD) is a decentralized stablecoin project. ESD uses an algorithmic approach to stabilize the price around 1 USDC by incentivizing actors who promote stability within the protocol and offering an elastic-supply of stablecoin.

The table below summarises the best performing tokens last week.

topperformers_7apr2021.pngSource: Novum Insights Up to 6th April 2021

This week in top performing tokens, we’ve seen various pillars of DeFi from DEXes, NFTs, stablecoins, prediction markets to liquidity protocols. As the DeFi space continues to mature, we expect to see more use cases and innovative financial products emerge.

Want more insights?

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