• September’s Top Five DeFi Coins

  • A look at five tokens in the decentralized finance (DeFi) sector that have exciting developments planned for September.

    Kava.io (KAVA)

    The current price is $8.11
    Market capitalization: $673 million
    Rank in terms of market capitalization: 110
    Kava is a lending platform based on decentralized finance (DEFI). Unlike other similar platforms, it supports cross-chain assets. The platform enables users to borrow stablecoins and then use them to earn yield.

    The platform makes use of the KAVA native token. The token can be used as a reserve currency as well as for voting rights.

    On September 1, KAVASwap will go live, serving as a link between DeFi, blockchains, and financial services. In addition, the mainnet will go live in September.

    On July 24, KAVA broke out of a descending resistance line and set a new all-time high on August 24.

    After that, it dropped to confirm the $7.30 area and began a new upward trend. As a result, on Aug. 30, it hit a new all-time high of $9.21.

    Technical indicators show no signs of weakness. The next level of resistance is $1.90.

    Mantra Dao (OM)

    Price right now: $0.22
    $79 million in market capitalization

    Rank #431 in terms of market capitalization

    MANTRA DAO is a decentralized finance platform governed by the community. It is primarily concerned with governance, staking, and lending.

    The platform’s native token is OM, and its holders control the Mantra Dao ecosystem through voting rights. The “Karma” reputation mechanism rewards users who contribute to the ecosystem.

    The Skyrim pool will open on September 1st, just in time for the launch of Skyrim Finance. Skyrim Finance Launch is a DeFi product ecosystem. Fixed-rate and leveraged-yield products will be available. It will be built on Ethereum and the Binance Smart Chain at first, then switched to Polkadot later.

    On August 5, OM broke out of an ascending parallel channel and validated it as support two days later (green icon).

    While it has risen since, it has yet to break through the $0.25 horizontal barrier. This could result in a significant upward movement.

    Terra (LUNA)

    Market Cap: $13.58 Billion Market Cap Rank: #12 Current Price: $33.8

    Terra is a blockchain that employs stablecoins and uses them to power global payment systems. The goal of the project is to combine cryptocurrency decentralization with fiat currency stability.

    LUNA is the name of the native token. The stabilization of stablecoin prices and the use of voting rights are two of its main applications.

    The Columbus -5 mainnet upgrade will go live on September 9th, bringing several improvements to the current system. The most important change is that swap fees will be used as dividends instead of being burned.

    Since August 1, when it broke out of a descending resistance line, LUNA has been rising. It reached a high of $36.89 on Aug. 29 as a result of the breakout. This price represents a new all-time high.

    There are, however, some minor signs of weakness in the form of bearish divergences in both the RSI and the MACD.

    The nearest resistance level is at $33.86, or the current price, and the next one is at $52.50. These are the external Fib retracement resistance levels of 1.61 and 2.61.

    Coti Network (COTI)

    $0.34 is the current price.
    $274 million in market capitalization
    #165 in terms of market capitalization

    COTI is a blockchain platform that specializes in payment system development. It allows users to create their own personalized payment systems in particular.

    It employs a machine-learning-based consensus algorithm known as “Trustchain.” More than 100,000 transactions per second can be processed by the algorithm.

    The platform includes seven key components that are considered necessary for a secure payment system:

    Simplicity \sScalability
    Cost-effectiveness
    Buyer-seller safeguards
    Price stability in security
    Instantaneity

    COTI will begin deploying on-chain smart contracts in September. In contrast to other platforms that offer smart contracts, the contracts will be fully executed on-chain.

    COTI managed to break out of a long-term descending parallel channel on August 25. For the day, it increased by 48 percent, reaching a high of $0.49.

    However, since it was rejected by the 0.786 Fib retracement resistance level, it has been declining. The previous channel’s resistance line, $0.26, is the closest support area.

    Zeroswap (ZEE)

    $0.274 is the current price.
    $14.2 million in market capitalization
    #871 in terms of market capitalization

    Zeroswap is a decentralized exchange aggregator that is cross-chain compatible. Transactions are gasless, and every time an on-chain trade is made, new tokens are created.

    ZEE is the platform’s native token. The Ethereum, Polkadot, and Binance smart chains are currently available on the platform.

    In the third quarter of 2021, three major new products will be released:

    The Zeroswap mobile application
    A new governance module has been added, as well as a new bridge for PolkaDot, AVA, and Elrond.

    ZEE began an upward trend on July 20, reaching a high of $0.45 on August 23. While the token has since declined, it is still trading at $0.262, above the 0.618 Fib retracement support level.

    ZEE must hold above this level in order for the bullish structure to remain intact.

    Both the MACD and the RSI are at zero. The former is at zero, while the latter is at fifty.

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