We have introduced how you can use Dapp data to capture the bullish and bearish signal of a Dapp token. Today we are looking at 4 dapps. All of them have experienced user/volume data changes that exactly influence their token prices.
Harvest Finance is a tool that helps farmers of all shapes and sizes get automatic exposure to the highest yield available across select decentralized finance protocols. Harvest Finance‘s all on-chain data have strongly bounced back in the past 30 days: Users +305.64%, Volume +1073.63%, Transactions +195.09%.
And you can see that the $FARM token price curve moves in the same direction as the user and transaction curve. $FARM 30d price has gained 175.47%.
BiFi is a multichain DeFi platform that connects not only Ethereum based tokens, but also other tokens from different blockchains such as Bitcoin, BNB, DOT and Klaytn.
BiFi’s 30d on-chain performance is amazing: Users +261.95%, Volume +972.80%, Transactions +326.60%. $BIFI token price +546.41%.
As the dashboard indicates, the $BIFI token price is highly correlated with the dapp’s data. The users, volume, transactions and token price all rose to a peak on 18th/19th Aug.
BadgerDAO is a protocol that focuses on bringing Bitcoin to DeFi. The DAO's debut products are Sett, a yield aggregator, and $DIGG, a BTC-pegged elastic supply currency. And $BADGER is the reward token.
BadgerDAO’s users, volume and transactions started to grow at the beginning of August: 30d Users +83.75%, Volume +267.49%, Transactions +94.89%.
Along with the great performance, the $BADGER token price also increased, +178.04% in 30d. As shown on the dashboard, the token price has a high correlation with BadgerDAO’s users and transactions.
Fleta Connect is a DeFi service that offers users its own buyback mechanism and aims to give more rewards to users. Its key features are Yield Farming / Delegate Farming, Auto-compounding, Converter between Chains, and Buyback & Burn Mechanism.
After the ATH at the very start of the protocol’s launch, all its on-chain data has slid down: 30d Users -2.53%, Volume -13.40%, Transactions -56.06%.
If you are trading its $CherryPick token, the data drop could be your bearish signal. As the dashboard shows, the $CherryPick token price follows the downward trend as Fleta Connect’s data.
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