Bitcoin (BTC) has connected to challenge the status of legacy markets as the marketplace capitalization of the digital asset surpassed the combined marketplace cap of Visa and Mastercard ($871 billion). Bitcoin'southward $ane.15 trillion marketplace capitalization has also overtaken the combined value of JPMorgan Chase, Bank of America and the Industrial and Commercial Banking company of Communist china, which are the world's three largest banks.

As Bitcoin gains in size and sustains it, several new institutional investors are likely to leap on the crypto bandwagon. Additionally, traditional businesses are closely watching the decentralized finance space and the rising popularity of nonfungible tokens. British-American auction firm Sotheby'south recently said that it will bring together the nonfungible tokens party by offering tokenized art past a creator named "Pak." This motility could farther boost involvement in the NFT space.

Crypto market place data daily view. Source: Coin360

Let's look at the fundamentals and technical setu of a few tokens in the DeFi infinite and NFT arena that have been doing well in the past few days.

ORBS/USD

The DeFi space has been 1 of the major quantum areas in blockchain technology that has gained widespread adoption by investors. Orbs co-founder and head of R&D Tal Kol recently said in a YouTube video that the project has been looking at the DeFi space and how information technology can be used to disrupt the financial industry.

In the video, Kol hinted that hedge funds have been looking closely at the DeFi space but they may not enter in its current form. The hedge funds may seek sure changes before making the plunge. Kol did not give out many details on the upcoming projects, but he did say that Orbs is keenly looking at the DeFi space.

This chance of the Orbs team possibly working with the hedge fund industry could have generated huge interest in its ORBS token.

On the DeFi front, Orbs and Binance have launched a new accelerator for the DeFi ecosystem in January that will provide mentorship to the selected projects. In its contempo update, Orbs said it had chosen its commencement set of projects for the accelerator plan.

The March 15 partnership announcement betwixt Orbs and Moonstake is aimed at increasing the adoption of blockchain technology in the finance industry and information technology might have as well been viewed equally a positive past traders.

ORB has soared from an intraday depression at $0.044 on March 13 to an intraday loftier at $0.35 on March sixteen, a 695% increase within four days. This sharp rally had pushed the relative force index (RSI) in a higher place 98 level, which is unsustainable.

ORBS/USDT daily chart. Source: TradingView

The long wick on the March 16 candlestick shows profit-booking at higher levels. The ORBS/USD pair could at present enter a small correction or consolidation. The first support on the downside is the 38.2% Fibonacci retracement level at $0.23.

If the price rebounds off this level, information technology volition suggest that the bulls are buying on minor dips. This could result in a retest of $0.35. A intermission above this level could start the side by side leg of the uptrend that could reach $0.56.

On the reverse, if the bears sink the price below $0.23, the selling could intensify. The adjacent back up on the downside is the 50% retracement level at $0.19. A break below this level will advise the bullish momentum has weakened and such a motion could delay the first of the side by side leg of the upward-move.

DEGO/USD

Dego Finance'due south DEGO token was covered past Cointelegraph on March 2 when it was trading at $6.31. Since then, it has been on a tear and rallied to a record high at $34.20 on March xiv, a 442% rise within a short time.

In the past few weeks, NFTs have been on a roll. Therefore, any project that is involved with NFTs has benefited immensely. Along with that, the March 10 listing on Binance'due south Innovation Zone was immensely successful as a total of $ane.4 billion in Binance Money was committed for DEGO'southward launchpad sale.

Forth with this, Dego Finance entered also into partnerships with several blockchains. Some of the more contempo ones include strategic relationships with Apron Network, Mask Network and Clover. Withal, many analysts are warning that if the NFT space slows down, it could adversely bear upon several blockchains related to information technology.

The long wick on the March 14 candlestick shows profit-booking at higher levels. That was followed by a long-legged Doji candlestick pattern on March 15, which indicates indecision amongst the bulls and the bears

DEGO/USDT daily chart. Source: TradingView

The bears are currently attempting to resolve the dubiousness in their favor as they aim to sink the price beneath the 38.two% Fibonacci retracement level at $22.37. If they succeed, the DEGO/USD pair could drib to the 50% retracement at $18.72.

A bounce off either support will suggest that traders go along to buy on dips. The bulls volition then endeavor to resume the uptrend by pushing the toll above the all-fourth dimension high at $34.20. If they succeed, the next target objective is $50.

Conversely, if the bears sink the price below $xviii, the pair could extend its decline to the 61.8% retracement level at $fifteen. Such a deep fall could be followed by a menstruum of consolidation earlier the next trending move starts.

1/USD

Harmony (ONE) was featured on Cointelegraph on February. 18 after it had rallied 230% since the first of the month. Traders who sold their holdings just because the price had risen sharply would have lost out on the subsequent rally. ONE surged from $0.028 on February. xviii to $0.108 on March 15, rising 285% within a month.

Let's await at some of the fundamental developments that may have supported the rally in the token.

Harmony entered into a partnership with Reef on Feb. 19, enabling users and Dapp developers of both projects to reap mutual benefits of the integration. Another rumor making the rounds is a possible partnership with Visa. While a few participants posed this question during a recent AMA session with Harmony'south CEO Stephen Tse on Reddit, they received no response.

Some other positive event could be the upcoming bridge betwixt Binance Smart Chain and Harmony. At the crux of every blockchain projection is decentralization. The Harmony squad has taken the kickoff step in this management by launching the governance app for the network, which will gradually empower the community to take decisions.

ONE has been in a strong uptrend since early on February. The recent ascent above $0.ten seems to have witnessed turn a profit-booking equally seen from the long wick on the March 15 candlestick.

ONE/USDT daily chart. Source: TradingView

The bulls had attempted to push button the price higher up $0.10 on March 16 but failed. This suggests the uptrend is tiring out equally traders are booking profits on rallies. All the same, the bulls accept non given upwards however as they are trying to go on the price above the 38.2% Fibonacci retracement level at $0.073.

If they succeed, the ONE/USD pair may consolidate in a tight range earlier challenging the all-time loftier at $0.108. If the bulls can push button the price above this resistance, the adjacent leg of the uptrend could brainstorm.

Alternatively, if the bears sink the price below $0.07, the refuse could extend to $0.06. A break below this support could event in a fall to the 61.viii% retracement at $0.05.

The views and opinions expressed hither are solely those of the writer and practice non necessarily reflect the views of Cointelegraph. Every investment and trading move involves adventure, y'all should conduct your own inquiry when making a decision.