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 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.
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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 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 is a Bitcoin entrepreneur from Cameroon, who holds an M.Sc in Blockchain and Digital Currency from the University of Nicosia. He is an advocate of Bitcoin in Africa and uses various social media platforms to promote his ideas and ventures. Tata has a background in state journalism and has established himself as a significant figure in the Bitcoin community.