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Cryptocurrency analysis firm Alphractal claimed in its latest analysis that the decentralized finance (DeFi) space has strong bullish potential in the coming months.
According to the analysis, the dominance level in the DeFi sector has reached a significant region and the positive reaction from this level has been supportive for many altcoins.
Alphractal listed the following projects among the altcoins that stand out in the DeFi category: Chainlink (LINK), Hedera (HBAR), Avalanche (AVAX), Mantra (OM), Uniswap (UNI), Aave (AAVE), Dexe (DEXE), Jupiter (JUP), Ethena (ENA) and Maker (MKR).
The analytics firm noted that bull market signals for DeFi have strengthened as Bitcoin dominance has started to decline. According to analysts, especially signs of recovery in this area of the market could attract the attention of investors again.
On the other hand, it was stated that short-term Bitcoin investors (those who hold for 1 month or less) are currently ineffective in the market. Stating that this investor group has generally become active in enthusiastic periods of the market in the past, Alphractal reported that according to current data, only 2.36 million BTC is held by this group.
*This is not investment advice.
