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Best three blue-chip DeFi crypto tokens to buy and hold

ByNdasi Tata

Jul 17, 2022
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1655890277248 f0c848c6 33aa 49d0 99bb e515a535692f

Decentralized Finance (DeFi) has come under fire in the past few months following the collapse of Terra and its ecosystem. The total value locked (TVL) in its ecosystem has crashed from over $250 billion to about $72 billion. Recently, however, blue-chip DeFi tokens have gone on a strong rally as investors buy the dip. Here are the best DeFi tokens to buy.

Aave (AAVE)

Aave is a leading DeFi platform that enables people to invest and borrow money through several steps. It is a popular platform that is available in several chains, including Ethereum, Polygon, Arbitrum, Harmony, and Avalanche. 

Aave has also grown to incorporate other features in its ecosystem. For example, the developers have created a smart contract platform that enable people to build applications on top of it. They are even working towards a stablecoin. Aave has a total value locked (TVL) of over $5.58 billion. 

Aave price has more than doubled from its lowest point in June and is trading at the highest point in more than a month. It is a good investment because of its strong market share and the fact that it has a long track record in the industry.

Learn more about how to invest in crypto.

Uniswap (UNI)

Uniswap is another popular blue-chip DeFi token to invest in for the long term. It is a pioneering Automated Market Maker (AMM) platform that enables people to swap, earn, and build decentralized apps. Uniswap is found in Ethereum, Polygon, Optimism, and Arbitrum. In the past few years, it has handled transactions worth over $1.1 trillion.

Uniswap has been in a strong growth path, which has seen the network launch a platform for building its ecosystem. Some of the most popular apps in its ecosystem are Universe Finance, Brink Trade, Burner Wallet, and Rainbow Wallet.

Uniswap has seen its total value locked (TVL) of over $5 billion, which is lower than its all-time high. The UNI token price has risen by more than 80% in the past few days and there is a likelihood it will continue rising.

Maker (MKR)

Maker is the biggest DeFi platform in the world with a total value locked (TVL) of over $7.7 billion. It is a well-known protocol that helps people access capital. It uses its own stablecoin which is known as Dai, which is an algorithmic coin. Maker is also the second-biggest oracle network in the world after Chainlink. 

The MKR price has jumped by 40% in the past few days and there is a likelihood that it will keep rising in the coming months.

The post Best three blue-chip DeFi crypto tokens to buy and hold appeared first on CoinJournal.

Ndasi Tata

Ndasi Tata is a Cameroonian-born Bitcoin entrepreneur and former state journalist who's also known for being a Bitcoin and Blockchain advocate. He's a crypto lover and reporter and has promoted several crypto projects within the African Continent. He uses a variety of social media and online channels. In addition to running a successful Facebook page with thousands of fans, he also promotes blockchain and bitcoin development initiatives on the well-liked YouTube channel #cryptoafrica-now. He earned an M.Sc. from the University of Nicosia in Cyprus in Blockchain and Digital Currency. At the University of Nicosia, Andreas Antonopoulos, Ph.D., and Antonis Polemitis, Ph.D., serve as role models.

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