The bullish momentum of meme coins has dropped in recent months. The Decentralized Finance (DeFi) sector has taken over with bullish gains. Three DeFi coins to watch out for in this sector are Polkadot, Chainlink, and Pullix.
Polkadot (DOT) Rallies
The DeFi sector has seen a significant recovery as tokens like Polkadot entered the green region. Information from CoinMarketCap showed the token trading at the $7 region. The Polkadot coin had jumped 21.7% during the past week.
The DOT token increased from $5.43 in early December to trade at a high of $7.59 but has since corrected. Furthermore, Polkadot price has increased by 35.2% in the past 30 days. However, it faced resistance at the $7.90 level.
This could have been a sign of profit-taking by short-term traders. The coin must first surpass the barrier at $7.36 to begin its upward price movement. Clearing this resistance would pave the way for DOT to $7.90.
Chainlink (LINK) Price Up
Chainlink (LINK) has joined the DeFi market in its latest price uptrend. Per CoinMarketCap, Chainlink rose from $14.06 to a 7-day peak of $17.25. While the Chainlink price has increased by only 1% on the weekly chart, it has gained 1,01% over the last two months. LINK has since corrected to around $14.50.
One potential explanation for the rising Chainlink price might be its recent integration with zkSync Era. zkEVM Ethereum L2 scaling solution, zkSync, has teamed with Chainlink SCALE.
The goal of this partnership is to make it easier to create scalable, secure, and feature-rich decentralized apps (dApps). If the bullish run continues, the Chainlink price could reach $20.
Pullix (PLX) Outlook
Pullix (PLX) has emerged as one of the more interesting DeFi coins, pushing the latest price rally. It is the native token of one of the more highly-anticipated trading platforms. It would offer faster transactions, low fees, and more security. The project aims to tackle a major challenge in DeFi.
One problem solved by the exchange is the issue of low liquidity, which has affected the growth of decentralized exchanges. Pullix has taken a unique approach to resolving this issue. This strategy takes advantage of both centralized and decentralized exchanges and forms a hybrid exchange. As such, Pullix has developed a single platform that offers improved liquidity as well as high speed, scalability, and security.
Also, Pullix has also incorporated the trading of global assets into its platform. Also, it will provide users with a comprehensive trading experience. Consequently, this could attract more users to the DeFi market.
As the first exchange of its kind, it enables token holders to benefit from the platform’s daily earnings. Moreover, users can secure a stable passive income by providing liquidity to the automated market makers and staking their coins.
Pullix, Polkadot, and Chainlink are among the more interesting DeFi coins to watch. Unlike meme coins, these tokens have utility. For instance, the Pullix token is used for staking, earning rewards, access to certain features, etc. PLX is now selling for $0.042 per token.
For more information on Pullix’s presale, see links below:
Disclaimer: The above article is sponsored content; it’s written by a third party. CryptoPotato doesn’t endorse or assume responsibility for the content, advertising, products, quality, accuracy, or other materials on this page. Nothing in it should be construed as financial advice. Readers are strongly advised to verify the information independently and carefully before engaging with any company or project mentioned and do their own research. Investing in cryptocurrencies carries a risk of capital loss, and readers are also advised to consult a professional before making any decisions that may or may not be based on the above-sponsored content.
Readers are also advised to read CryptoPotato’s full disclaimer.
The post Comparison Between Chainlink, Polkadot and Pullix as DeFi Heats Up appeared first on CryptoPotato.
