Tokens That Are DeFi-ying The Odds
Decentralized finance is the flavor of this crypto rally! So without much ado let's get started.
As per the Q2 2020 Quarterly Cryptocurrency Report . Aave(LEND) and Kyber Network lead it from the front:
We can safely say that Q2 was extremely DeFi-centric. The price return of 4 out of 5 DeFi tokens was higher than other Top-5 cryptocurrencies and Top-5 exchange tokens.
Aave’s price return was the highest among the Top-10 DeFi tokens with a whopping gain of 712%. This was impressive as Aave was only launched in Jan 2020 and it’s now the 4th largest DeFi protocol in terms of Total Value Locked. However, Aave’s trading volume was still relatively small compared to the other DeFi tokens.
Nevertheless, we can see that more users are now active in trading DeFi tokens. Compound (COMP), which only went live on 20th June 2020, has quickly risen to the Top-30 coins in terms of market capitalization.
@juanmolina views?
Any project that ventures into DeFi has a high probability of success.
Since DeFi runs on ETH Blockchain, these projects can create their own RC-20 tokens.
If the project is successful then your native tokens will be revalued.
Thanks for this review.
Thanks @juanmolina