The Best Defi Projects To Invest In
Introduction of Defi Projects
Decentralised Finance, or Defi projects, represents a transformative wave in the financial landscape, leveraging blockchain technology to reimagine traditional financial services in a decentralised manner. Defi projects aim to create an open and permissionless financial ecosystem, allowing users to access a variety of financial services without relying on traditional intermediaries like banks.
In this blog, we’ll be uncovering some of the most important Defi coins that you should invest in.
1. LINK
Chainlink has joined the Defi projects market in its latest price uptrend. Per coin market cap, chainlink rose from $14.06 to a 7-day peak of $17.25. While the Chainlink price has increased by only 1% on the weekly chart, it has gained 1.01% over the last two months.
2. AVAX
Avalanche AVAX is a noteworthy player among Defi projects, positioning itself as a competitor to Ethereum by prioritizing scalability and transaction processing speed. AVAX is used to secure the Avalanche blockchain and pay transaction fees across the network.
Its price prediction is around $39.48.
3. Injective INJ
Injective protocol (INJ) is a decentralized exchange (DEX) that offers cross-chain margin trading, derivatives and forex futures trading. The injective protocol is built on Cosmos blockchain as a layer 2 application.
The current price of Injective is $34.77 per INJ.
4. Uniswap UNI
Uniswap is the largest decentralized crypto exchange (DEX) protocol in existence.
This peer-to-peer crypto exchange provides liquidity to hundreds of different ERC-20 cryptocurrencies by employing automated market makers. Uniswap, launched in 2018, was the first DEX to gain widespread adoption.
According to data from DefiLIama, UNI is currently the 7 largest decentralized finance (Defi) protocol as measured by total value locked. Its market cap is $3.84 billion.
5. Stacks STX
Stacks STX is a unique cryptocurrency that enables smart contracts and decentralized applications on the Bitcoin blockchain. STX token empowers users to participate in the consensus mechanism.
Moreover, you can also earn Bitcoin rewards for maintaining networks. The STX is supposed to have a low of $1.85 in 2024.
6. Fantom
Another cryptocurrency is that of Fantom. Fantom is a decentralised, permissionless, open-source smart contract platform for decentralized applications (dApps) and digital assets.
Furthermore, it is a great alternative to Ethereum. It has become increasingly popular because of its focus and scalability. The live price of Fantom is $0.3974.
7. Thorchain RUNE
Within the landscape of Defi projects, RUNE serves as a pairing token, aligning with every asset within the platform’s liquidity pools. As such, RUNE serves as the second token that users will eventually deposit in the liquidity pool to execute trades against, driving both its utility and network.
8. Lido LDO
In addition to being the most popular crypt-staking dApp (decentralised application), the Lido protocol is one of the most popular protocols in existence.
Its impression TVL of $9.19 billion puts it way ahead of its staking competition. Lido allows any investor to stake crypto by investing in staking “pools”.
The staking pools of Lido are liquid, which implies investors can unstake their coins at any time.
9. Aave (AAVE)
Aave is the fourth largest Defi projects protocol in the world. It is also the largest dApp in the lending/ borrowing space.
Any crypto participant can earn interest by depositing cryptocurrencies into Aave liquidity pools. Borrowers can tap into these same pools to borrow cryptocurrency at a very generous rate. Its total market cap is $1.43 billion.
10. Curve Finance (CRV)
Curve launched in 2010, is the second largest DEX protocol in 2023. Like Uniswap, Curve uses smart contracts (automated market makers) and liquidity pools to provide liquidity to hundreds of crypto pairs. Though Curve has less market share than Uniswap, this protocol is interoperable with 12 different blockchain networks while Uniswap supports only 4.
Its market cap is $573 million.
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