If you subscribe to the philosophy of “buy low, sell high”, obviously, the time to buy is when an asset is in oversold territory, right? Not necessarily. We’ll explain why. First, look at four DeFi projects that are ripe for picking.
Maker DAO (MKR)
Maker DAO is an investment DAO. The price of MKR is down more than 90% since its all-time high back in May of 2021. Not only is MKR in oversold territory on the RSI, but it looks to be forming a perfect double bottom on the weekly chart. If MKR turns up from here, we could see a nice short-term rally even as other cryptos fall in price. We’re probably looking at another 25% drop if it falls further. If that happens, wait for the next bounce, which could come any day now.
Curve DAO (CRV)
Curve DAO is a DeFi platform and automated market maker. CRV doubled in price since June but then fell back down. It’s up 60% since then, which is a sign of strength. Like MKR, CRV aims for a double bottom as it comes out of the oversold territory. Same strategy: wait for a bounce.
Ravencoin was designed specifically for the issuance of tokens of all kinds. It has been an outlier of late. RVN has popped 350% since June. Over the past week, it has seen a 50% drop, but nevertheless, it’s more than double the price back in mid-June. Ravencoin is currently working out higher highs and higher lows: unlike most altcoins, RVN is in a bona fide uptrend. It could see a spectacular run if it can turn the four cents level into support.
As we mentioned in the opening, being oversold isn’t the only reason to buy a token. Another good reason is that the token is in ICO mode. One such animal is Uniglo, another investment DAO. GLO tokens are currently being offered prelaunch for $0.0145, which is a 45% gain from when the ICO began. Any tokens that do not sell during the presale will be burned before GLO goes onto exchanges. From there, the supply is eternally deflationary.
There are two burn mechanisms — one automatic and one manual. First, 2% of every aftermarket transaction is burned. This means the supply is shrinking no matter the market’s direction. Second, the community of GLO holders can vote to use treasury funds to buy GLO tokens off exchanges if the price dips below the treasury value.
The treasury is funded by another 10% royalty on all aftermarket sales (5% each from buyer and seller). So, the more volatile the market, the faster the treasury grows. And it never stops growing.
The community gets to vote on all investment activities of the DAO, and any token is fair game, whether it be a cryptocurrency and investment-grade NFT or tokenized non-digital assets such as stocks, gold, real estate, and high-value collectibles.
Uniglo makes long-term diversified investing as easy as it gets. Just buy and hold GLO. This means it could be the first DeFi token to see mainstream adoption. If that happens, as we suspect, a small investment before launch in mid-October could turn into a very comfortable retirement.
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Join Presale: https://presale.uniglo.io/register