The cryptocurrency market slid lower on Dec. 28 as the price of Bitcoin (BTC) lost nearly $4,000 in value in a matter of hours with bulls now looking to secure support at $48,500 to prevent further losses.
In the midst of the market-wide drawdown, the decentralized finance (DeFi) sector of the crypto ecosystem has offered some traders shelter from the storm, with several tokens seeing gains in excess of 30%.
Top 7 coins with the highest 24-hour price gains. Source: Cointelegraph Markets Pro
Data from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Harvest Finance (FARM), QuickSwap (QUICK) and Aragon (ANT).
Harvest Finance moves towards full decentralization
Harvest Finance is a DeFi protocol designed to automatically farm the highest yields available from across the ecosystem and optimize the yields users receive through implementing the latest farming techniques.
VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for FARM on Dec. 25, prior to the recent price rise.
The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.
VORTECS™ Score (green) vs. FARM price. Source: Cointelegraph Markets Pro
As seen in the chart above, the VORTECS™ Score for FARM climbed into the green zone on Dec. 25 and reached a high of 75 around two hours before the price increased 207% over the next three days.
The boost in the price of FARM comes as the project continues to move towards full decentralization including the ability for community members, known as “builders,” to deploy new farming strategies and update the user interface as needed.
QuickSwap adds support for Harmony
QucikSwap is a decentralized exchange and automated market maker that operates on the Polygon network.
Data from Cointelegraph Markets Pro and TradingView shows that after trading at a low of $235 on Dec. 22, the price of QUICK catapulted 143% to reach a daily high at $570.50 on…