Top 8 Low-Cap DeFi Altcoins That Can Skyrocket On The Back Of Bitcoin Rally
Is this the start of a “DeFi summer”?
On the back of major positive news for Bitcoin, old DeFi coins that many have forgotten existed - such as Bitcoin Cash, Uniswap, Compound, and Aave - have staged a significant rally.
When a group of large caps is rallying, it’s time to look deeper into the relevant narrative - in this case the DeFi narrative - as the capital usually flows from large caps to smaller caps.
Despite encountering resistance in the 31.5 to 32k range, Bitcoin has managed to avoid substantial pullback. Its price closed above the crucial 30k level on the weekly candle and is now consolidating within a sideways range.
The Bitcoin dominance is still going strong and the altcoin season is far on the horizon. But if Bitcoin breaks the 31.5k level, certain altcoins can outperform, in particular, old DeFi tokens which are considered ‘SEC-compliant’.
A great tool (not many traders know) you can use to gauge the strength of the DeFi narrative is the DEFI/USDT Perpetual Contract chart on Binance. Its price is currently in a downtrend. However, if it can successfully break the trendline and its horizontal resistance, we can expect DeFi tokens to soar.
