The crypto crash has taken a heavy toll on the trust reposed in the DeFi (decentralized finance) space. With the prices of various coins dropping sharply, the locked volumes have also seen a heavy reduction, specifically in May 2022. If you are interested in trading, check this article. There’s a lot of learning about this topic.
Nonetheless, experienced investors have been keeping a keen eye on a few DeFi coins, which promise to give optimal returns over the next few months.
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UNI
It is the native token of Uniswap, an extremely popular decentralized cryptocurrency exchange. The exchange utilizes the AMM (automated market maker) model for ensuring that exchanges and trading of cryptos goes through smoothly and securely. As for its token, UNI, it proves useful for staking and governance, albeit on selected platforms only.
Despite the crypto crash in May 2022, the Uniswap platform displayed trades worth $1 trillion and more. This indicated that the ecosystem continued to remain strong in its operations.
However, a slump thereafter has brought the UNI token’s price to $3.98. The slump was around 26.5%. Nonetheless, investors have not lost faith in the token, as Uniswap continues to hold a strong position in the list of DEXs.
LINK
The token belongs to Chainlink. Chainlink refers to an oracle/protocol that is decentralized. It brings about bonding between off-chain data and varied blockchains. This results in the provision of accurate data to decentralized (DeFi) protocols.
Chainlink permits smart contracts to operate naturally, thereby providing the power for protocols to perform strongly.
The LINK token is a hot favorite amongst investors, although it has displayed a price drop of 15.6% recently. The trading price is $6.33. Another thing that attracts investors is the fact that the protocol’s developers are keen to improve and expand it. It has integrated with the Polkadot blockchain, such that data may be transferred to all the DeFi protocols operating on the latter platform. Chainlink is also striving for interoperability.
DEFC
This DeFi Coin is native to the DeFi Swap ecosystem. The DeFi Swap ecosystem refers to a DEX (decentralized exchange) platform, which permits seamless trading of digital assets, without the interference of an intermediary. As a result, investors feel that this coin will bring them excellent returns.
Like other cryptocurrencies, DEFC has also experienced its upswings and downswings. It had come down by 55.2% in May 2022. Currently, its price stands at $0.1568.
Nevertheless, the coin has its advantages. For instance, whenever a DEFC coin is sold, the DeFi Swap platform charges a 10% fee. This serves to encourage investors to remain stakeholders, rather than take up the role of traders. Over time, the supply of this coin is bound to reduce. In turn, it will push up its price.
Then again, DeFi Swap is keen to list its native coin on other centralized cryptocurrency exchanges. Such exposure should serve to attract the attention of investors from all over the world.
MKR
The token is associated with Maker, which is one of the largest decentralized protocols in the crypto marketplace. MKR went on a downswing of about 53% the previous month. Today, it trades at $754.54.
Maker is a lending platform, under the governance of MakerDAO. This is the same establishment that looks after the DAI stablecoin. This association carries great value, for DAI is viewed as the 4th largest stablecoin in the crypto arena. It took over this spot when UST, linked to Terra, collapsed. Therefore, when DAI manages to stay afloat, it will help MKR also to stay on top. After all, MKR is a coin carrying the DeFi blue-chip label.
DYDX
It is the native token of dYdX, a reputed, decentralized trading platform. This platform offers a high-frequency trading ecosystem, specializing in healthy asset trading and swaps.
Currently, the ecosystem’s native token is trading at $1.16. May 2022 had seen its popularity go down by 43.6% in May 2022.
The dYdX platform has a trading application in place, too. It is the beta, which was published in May 2022. Thanks to the app, users can navigate through a user-friendly interface and have a seamless experience of approaching the crypto marketplace.
The app’s beta has become so popular that over 200,000 investors have already signed up for using it. Thus, DYDX should be able to satisfy investors with long-term and healthy profits.
