Ripping Out of Their Downtrend + Business Update $DEFI absolutely ripping today! Up nearly 11% on 1.25M+ volume. Seeing lots of buying but not a lot of selling since breaking out of the bullflag. Still carrying a consistent amount of volume over the recent weeks, so it can definitely reach higher highs soon!
DeFi Technologies has outperformed the market since coming out of a downtrend in mid-July (bottomed at around $0.50). The main reason for the return can be attributed to the revival of the crypto market, where BTC now sits comfortably above $45k, and the consistent news releases/business developments.
Yesterday, $DEFI updated their governance business (one of the three pillars alongside venture and asset management). DeFi Governance works with decentralized networks to run independent nodes that validate transactions and provide governance on the network.
- Over the past 2 months, they've earned 300,000 Shyft tokens by running a node.
- They expect to earn 6,800 daily and 2,482,000 tokens yearly
- The current price of Shyft ($SHFT) is $0.99, so they should expect to generate revenues of around $6,732 daily or $2,457,180
https://www.newswire.ca/news-releases/defi-technologies-provides-update-on-its-governance-business-announces-initial-shyft-network-node-earning-of-300k-of-shyft-tokens-over-two-months-810664061.html
Great news from the governance business. Finally, seeing a tremendous amount of growth in the whole company, not just in one sector. With Valour’s record AUM and now this, I'm even more bullish on $DEFI. As one of the only ways to enter the DeFi space as an average investor, IMO, this can go even higher than the current price of $2.24.