Grayscale is a leading fund actively engaging in the cryptocurrency field. The fund offers various products, including ETFs, trusts, and mini-trusts. Currently, investors are focusing on the DeFi tokens included in the Grayscale DeFi fund. In this article, we will review the state and prospects of these tokens.
Overview of Grayscale's DeFi Fund
The Grayscale DeFi fund charges a 2.50% management fee, with no performance fee. The fund's major tokens include Uniswap, AAVE, Maker, Lido DAO, and Synthetix. Despite high fees, the fund's performance is questionable, with the NAV per share dropping from $79.25 in late 2021 to the current price of $15.70.
Technical Analysis of DeFi Tokens
### Uniswap (UNI) Uniswap has returned to the spotlight with a bullish reversal from the $5.368 support level. The token has increased by 29% over the last 18 days, surpassing the 23.60% Fibonacci level at $6.487. Currently, the ongoing uptrend faces resistance at $7.294. DMI and VI indicators support the bullish sentiment, but ADX indicates weak trend momentum. ### AAVE (AAVE) In the last bullish cycle, the AAVE token rose by 21% over the week, reaching $134. With a market cap of $2 billion and a 23.42% YTD growth, the token is aiming to surpass the yearly high of $142. A Fibonacci level paints $206 as a potential target. ### Maker (MKR) The Maker token has increased by 6.61% over the past 7 days, reaching $2,096. Despite a recent 48% drop from the annual high, the token is showing growth and surpasses the $2,000 level. If the token can surpass the 23.60% Fibonacci level at $2,165, further growth to $2,667 is possible. ### Lido DAO (LDO) The Lido DAO token has increased by 5.30% in the last 24 hours and is trading at $1.18. The recovery has strengthened support at the $1.00 level, and buyers are preparing to challenge the 50-day EMA level. Growth to $1.96 and beyond is possible with a channel breakout. ### Synthetix (SNX) The Synthetix token has risen by 14% over the past 7 days, reaching $1.54. Recovery began after testing support at $1.00. Current growth may surpass the 23.60% Fibonacci level at $1.61, with potential further rise to $2.45.
Conclusion
Despite the recent market surge, the Grayscale DeFi fund's tokens await key breakout events to continue their bullish trend. Current trends and technical analysis show potential for further growth, but key resistance levels need to be overcome.
Grayscale's DeFi fund continues to be an interesting subject to monitor. Investing in these tokens requires a conscious approach and assessment of current market events.
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