DFYN saw an extremely bullish Q2 in 2021 and attracted lots of new investors and defi farmers to their multi-chain protocol on Polygon. The hype was very short-lived though and the project's poor reward system/tokenomics and a number of other factors that I'm not aware of led to a slow demise. Ultimately, the project was left with a huge supply and no demand! Despite the poor performance and the decreasing liquidity in the last few months, DFYN has a functional product and is yet to develop itself into a well-known DEX.
So much for the fundamentals and back to the real talk!
As demonstrated on the chart, the great selling climax is slowly coming to an end as new buyers are stepping in to catch this ever-falling knife! The diminishing bearish momentum, the increasing traded volume and the percentage of the drop compared to the first wave all confirm this hypothesis. I believe we will have a short period of accumulation and side-way action before breaking out to the upside. This investment allows for a high ROI since the downside is much more limited compared to the upside. Let's see if this analysis plays out.
Cheers!
So much for the fundamentals and back to the real talk!
As demonstrated on the chart, the great selling climax is slowly coming to an end as new buyers are stepping in to catch this ever-falling knife! The diminishing bearish momentum, the increasing traded volume and the percentage of the drop compared to the first wave all confirm this hypothesis. I believe we will have a short period of accumulation and side-way action before breaking out to the upside. This investment allows for a high ROI since the downside is much more limited compared to the upside. Let's see if this analysis plays out.
Cheers!