CVX leads with $7.348 million inflow
PENDLE sees $372,800 in new investments
LINK gains $369,400 from investors
Prices for CVX, PENDLE, and LINK are $2.403, $4.63, and $13.63 respectively
Smart Money’s Favorite Tokens
According to Nansen’s data on July 19, the Ethereum network saw significant capital movements driven by Smart Money, a term referring to experienced investors known for making profitable trades. The tracking list highlighted three tokens that drew considerable interest: CVX, PENDLE, and LINK.
CVX Tops the List
CVX, the token associated with Convex Finance, attracted a remarkable $7.348 million in the last 24 hours. Convex Finance, which allows Curve.fi liquidity providers to earn a share of trading fees on the Curve platform without needing to lock up their CRV tokens, is gaining traction among investors. Currently, CVX is priced at $2.403, reflecting strong market confidence and potential for growth.
PENDLE and LINK Follow
PENDLE saw an inflow of $372,800. This token, which allows users to tokenize and trade future yield, is gaining attention for its innovative approach to decentralized finance (DeFi). Trading at $4.63, PENDLE’s market activity indicates a growing interest in yield optimization strategies.
LINK, the native token of Chainlink, experienced an inflow of $369,400. As a crucial player in providing real-time data to smart contracts, Chainlink continues to be a staple in the DeFi ecosystem. LINK is currently valued at $13.63, reflecting its steady position in the market.
DeFi Continues to Dominate
The consistent investment in DeFi tokens underlines the sector’s growing influence in the broader cryptocurrency market. Investors are increasingly seeking opportunities that offer more than just speculative value, looking instead at the practical applications and innovations these projects bring.
Future Prospects
For those keeping an eye on the crypto market, the influx of Smart Money into these tokens suggests a positive outlook. CVX, with its role in optimizing liquidity pool earnings, PENDLE’s unique yield trading capabilities, and LINK’s essential oracle services, are all positioned for potential growth as DeFi continues to evolve.
Keep an eye on these trends and the continued movements of Smart Money to stay ahead in the crypto market.
The post Ethereum Smart Money: Top Inflows $CVX $PENDLE $LINK appeared first on Top Crypto News: AI-Powered Insights & Updates | CoinBuzzFeed.
