The selloff in crypto assets has affected the decentralised finance (DeFi) space. Volumes locked have dropped significantly over the past month, and DeFi coin prices have also seen sharp drops.
However, the best investors understand that market downturns are the best time to get back into trading. In this article, we’ll look into some of the best DeFi coins to buy for optimal returns down the line.
1. DeFi Coin (DEFC)
Kicking off our list of the best DeFi coins to buy is DEFC – the native asset for the DeFi Swap ecosystem.
DeFi Swap is a decentralised exchange (DEX) platform that allows seamless asset trading without a third party. The platform has gained massive investor interest since it launched, with many investors moving to buy DeFi Coin in anticipation of gains.
Today, DEFC trades at $0.1568. The digital asset is down by 55.2% in the past month.
We chose DEFC as our top option because of its benefits. DeFi Swap takes a 10% fee whenever DEFC is sold, creating an incentive for investors to hold the coin as opposed to trading it. Over time, we expect this model to reduce DEFC’s supply and push its price forward.
DeFi Swap is also in the process of listing DEFC on other centralised exchanges. This should help DEFC grow as it becomes exposed to a broader investor pool.
2. Uniswap (UNI)
Uniswap is one of the most popular decentralised exchanges in the market. Operating with the automated market maker (AMM) model, Uniswap makes asset trading and exchanges possible. The platform’s UNI token is also available for governance and staking on select platforms.
UNI currently trades at $3.98. This is a reduction of 26.5% in the past month.
Despite the price drop, UNI remains a top option. Investors can buy Uniswap because of the exchange’s strong position as the leading DEX. When the market flips bullish, UNI could be among the coins to see the biggest gains.
Uniswap already crossed $1 trillion in total trades last month, showing that activity within the ecosystem remains strong.
2/ Over the past three years, The Protocol has
? Onboarded millions of users to the world of DeFi
? Introduced fair and permissionless trading
? Lowered the barrier to liquidity provision pic.twitter.com/mT2ZzjMTav— Uniswap Labs ? (@Uniswap) May 24, 2022
We expect to see even more impressive performances from the exchange down the line, bolstering UNI’s prospects.
3. Maker (MKR)
With a focus on lending, Maker has grown to become one of the largest DeFi protocols in the market. Maker is run by MakerDAO – the same organization that administers the DAI stablecoin.
Currently, Maker’s MKR token trades at $754.54. This is a drop of 53% in the past month.
Investors can buy Maker to see gains when the market flips bullish. MKR is a DeFi blue-chip coin, and its status ensures that it will undoubtedly see gains.
There’s also strength in the DAI stablecoin. Following the collapse of Terra’s UST, DAI is now the fourth largest stablecoin in the market. With investors looking for havens amid the market downturn, DAI will play an increasingly important role in keeping the market afloat.
4. Chainlink (LINK)
Chainlink is one of the most vital instruments in DeFi. It is a decentralised oracle, a protocol that connects blockchains with off-chain data, allowing them to provide accurate data to DeFi protocols. With Chainlink, smart contracts operate as they should, powering strong performance for these protocols.
The protocol’s LINK token is one of the most popular in the market. It currently trades at $6.33. This represents a drop of 15.6% in the past month.
Still, there are a lot of reasons to buy Chainlink. The protocol has been expanding significantly, recently integrating with the Polkadot blockchain to provide data to DeFi protocols built on that blockchain.
With interoperability being on the cards for blockchain technology’s future, Chainlink will undoubtedly play an important role in bringing this to pass.
5. dYdX (DYDX)
dYdX is one of the most prominent decentralised trading platforms in the market. With its high-frequency trading system, users can enjoy the best of swaps and asset trading in the DeFi space.
DYDX, the trading platform’s native token, currently trades at $1.16. In the past month, the asset is down by 43.6%
The biggest pull for DYDX is the release of the dYdX trading app. The beta was released last month, and the app provides a seamless and user-friendly way of accessing the market.
We are excited to announce that our iOS app is now available to the public! This makes dYdX one of the first DeFi protocols to launch a dedicated mobile app and puts our user experience even more on par with centralized exchanges. Visit https://t.co/YMo3oz5Wz5 to download it! pic.twitter.com/4PE41avSvd
— dYdX (@dYdX) May 10, 2022
The trading platform’s developers have claimed that there are about 200,000 signups for the app’s beta release. This shows massive investor appeal. Increased activity should bolster both the platform and the coin, so investors can buy DYDX for long-term gains.
Read More:
DeFi Coin – Our Recommended DeFi Project for 2022
- Listed on Pancakeswap, Bitmart (DEFC/USDT)
- Automatic Liquidity Pools for Crypto Swaps
- Launched a Decentralized Exchange – DeFiSwap.io
- Rewards for Holders, Staking, Yield Farming Pool
- Token Burn
Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.
Source: https://insidebitcoins.com/news/best-defi-coins-to-buy-for-high-returns-june-2022