The DEFC price is up over 175% in the past 24 hours, currently trading at $0.23 on Bitmart exchange.
From its daily low of $0.08 to its high of $0.25 was an over 300% move for DeFi Coin.
Liquidity is low on Bitmart however the DEFC / USDT pair is currently green again with today’s daily candle holding most of the gains from yesterday, suggesting new buyers have stepped in.
There is likely to be little selling pressure as DEFC already retraced 98% from its all time high of $4 set in July 2021.
DEFC Price Rise
DeFi Coin has completed another phase of its roadmap, the version 3 launch of their Defiswap.io DEX, app and farming pool.
The DEFC project aims to be an alternative to decentralized exchanges such as Pancakeswap, Uniswap and Sushiswap, providing liquidity for crypto swaps with no centralized third party required.
DEFC’s market cap and and ranking are not currently tracked on Coinmarketcap.com, which may be updated soon with the recent price rise and lead to more awareness of this DeFi project.
Today’s price action suggests DeFi Coin may have bottomed out and be about to start another bull cycle. DEFC is now back above its presale price of approximately $0.10 and initial trading price of $0.20 from June 2021. The 2022 low for the DEFC price was $0.05 on Bitmart.
Ethereum also pumped around 6% on Wednesday following the conclusion of this month’s FOMC meeting and no negative news being announced by the Federal Reserve.
That is a positive sign for decentralized finance protocols that largely run on ETH, and crypto in general which has been increasingly correlated to the SPX.
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