spot_img

Three Fantom Ecosystem Projects To Watch For The Week of March 21st


Missing out on these three Fantom ecosystem projects might just come back to haunt you.

Covered:

  • Liquid Driver (LQDR)
  • SpookySwap (BOO)
  • Retreeb (TREEB)

The Fantom ecosystem is home to one of crypto’s richest and most expansive DeFi ecosystems. From countless decentralized exchanges (DEXs) to unique payment solutions, there’s a lot happening on Fantom (FTM). The network’s explosive growth over the past several months proves that lots of people are tuning into the DeFi hub, so be sure to keep these three Fantom ecosystem projects on your radar as the crypto markets head into the next bull run.

RECOMMENDED: FANTOM DEFI IS PRIMED TO OVERTAKE THIS BIG NAME COMPETITOR

Liquid Driver (LQDR)

Starting off this week’s list is the first-ever high-yield liquidity mining decentralized application (dApp) Liquid Driver (LQDR). When Fantom had its run during the tail end of 2021, LQDR was one of the hottest projects on Fantom as it brought in a wave of new users. Using the platform, you can stake your liquidity pool (LP) tokens from SpiritSwap, SpookySwap, Beethoven X, or Hundred Finance to earn the protocol’s native token, LQDR.

Using your LQDR, you can plug into a range of Liquid Driver’s DeFi features, such as yield farming (currently earning upwards of 100% APR), staking for xLQDR, and more. Traditionally, xLQDR must be locked for a set amount of time to earn rewards. Still, recent developments from the team indicate that soon xLQDR will become more liquid with the help of Revest Finance, giving you more freedom to use your tokens as you please.

At the time of writing, LQDR is trading at $12.94.

LQDR

LQDR had a hot run-up going into 2022, followed by a slow bleed back down as Fantom cooled off from its run. However, LQDR recently confirmed a bullish divergence on the daily chart, where the price bounced higher off a lower low accompanied by a higher low on the relative strength index (RSI). Assuming the overall crypto market is able to maintain its bullish momentum, keep a close eye on LQDR as new Fantom users onboard its DeFi platforms. It’s one of the best protocols in the Fantom ecosystem for earning yield, and I’d expect its support from DeFi fans to grow as Fantom grows alongside it.

SpookySwap (BOO)

If you’re at all familiar with the Fantom ecosystem, then there’s a good chance you’ve heard of its most popular DEX, SpookySwap (BOO). Despite the countless number of DEXs popping up on Fantom, SpookySwap is one of the most trusted on the network. BOO is the DEX’s native token, which gives you access to yield farming through liquidity pools, staking, NFTs, and more on SpookySwap.

At the time of writing, BOO is trading at $13.19.

BOO

What’s most interesting to note about the BOO daily chart is the potential double bottom forming on the higher time frame. A lot of participants entered the BOO market around the current prices, so there’s a decent chance that these current price levels could turn out to be a great entry down the road. Under healthy market conditions, BOO could round out here and continue its next leg up alongside FTM, but don’t count out more bearish momentum to the downside.

Here’s some great advice from the well-known trader Ansem to always keep in mind, especially when looking at smaller projects:

RECOMMENDED: HOW TO GET ON FANTOM DEFI

Retreeb (TREEB)

With that advice in mind, let’s take a look at our last project in the Fantom ecosystem, Retreeb (TREEB). Retreeb is a rather unique crypto, as it doesn’t boast your typical DeFi features as we’ve seen from the previous two projects. Retreeb actually coins itself as an ‘ethical payment solution’ built on Fantom. It lives up to the title by being the first distributed payment solution that shares one third of its network fees to funding social and solidarity projects of the transactors’ choice.

At the time of writing, TREEB is trading at $0.13.

TREEB

One of the reasons you should keep an eye on TREEB is the massive amount of strength it’s shown throughout the past several months. Towards the end of December 2021, TREEB went over 10x from 1 cent to its current levels, and after an even further run-up to $0.42, it was one of the few projects on the market to completely ignore the bearish volatility seen in the overall crypto markets.

Since topping out, however, it has admittedly lost some steam, but that by no means indicates that the TREEB run is over. It has spent a lot of time here around current price levels, so I’d keep close tabs on TREEB here to see if it can form out another bottom around $0.13. However, since TREEB tends to ignore the overall market action, it could still bleed lower regardless of bullish or bearish market conditions. The current price action isn’t giving any clear indication of potential direction, so I’d add this one to the watchlist and look for good entries. But as new decentralized payment solutions like Solana Pay, or Terra’s Outlet Finance, for example, begin hitting the mainstream market, Retreeb may find itself right alongside them.

That’s all for this week’s list of Fantom ecosystem projects! Be sure to tune in next Monday for a fresh batch of three more projects to keep on your token radar.





Source link

Related Post

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

946FansLike
0FollowersFollow
7FollowersFollow
0SubscribersSubscribe
- Advertisement -spot_img

Latest Post