DeFi is hot, and we have seen a series of projects emerge to try and take full advantage of this emerging space in crypto. There are so many DeFi projects too, and each of them offers its own investment merits and demerits. But here is why investing in DeFi is a good idea for any investor:
DeFi projects are trying to solve a real need in the market
The technology needed to power DeFi protocols is now in full force
Investor sentiment in DeFi has remained largely positive over the years.
So, if you are thinking of unlocking long term value in DeFi, we have three coins here below that will help you:
Synthetix (SNX)
The main goal for Synthetix (SNX) is to make it easier for people to mint crypto assets that are pegged on real-world assets. In essence, it allows assets traded in the traditional finance industry to be migrated into the blockchain and traded using this ecosystem.
Data Source: Tradingview
This is a huge breakthrough that could bring in more trade volume into the crypto space. Synthetix has a market cap of $714 million with a very strong future.
Compound (COMP)
You cannot talk about DeFi and fail to include Compound (COMP) in the calculation. The project is one of the biggest liquidity providers in the market that allows people to earn rewards through staking. Compound has a TVL of around $7 billion, one of the highest of any DeFi protocol.
Lido Finance (LDO)
As far as TVL goes, Lido Finance (LDO) also has no match. The project has over $18 billion in total value locked and is one of the biggest DeFi projects on the planet. The protocol is run through a native DAO called LDO with a market cap of slightly lower than $400 million. Lido Finance (LDO) will continue to play a huge role in the future of DeFi.
The post Top 3 coins to help you unlock the long-term value in DeFi appeared first on Coin Journal.
