Defi was one of the sectors that saw a boom in the world of crypto along with NFT.
The DeFi tokens have taken the finance market by storm and I’m sure you are eager to know why. So let’s have a bird’s eye inspection into the DeFi tokens, it’s kind and the reason why it is becoming the next preferred cryptocurrency.
In this article, we are going to talk about what is defi and which are the best performing defi tokens of 2021.
What are DeFi tokens ?
The Decentralised Finance Tokens or your DeFi tokens are a wide variety of finance values in cryptocurrency that are inspired by the Blockchain system. The DeFi coins are an alternative to your Fiat currency, only with much more privacy and security. It majorly aims at eliminating the middleman from a transaction.
How to buy Defi tokens?
Defi tokens can be purchased from sites like Uniswap and Pancakeswap as you would find the tokens getting listed on decentralised platforms first.
After that, the tokens are then listed on centralised crypto exchanges like Binance, Huobi, Kucoin etc.
Indians can buy from Indian crypto exchanges like WazirX, CoinDCX, Giottus etc.
Top 10 DeFi Tokens in 2021
There has certainly been a lot of buzz around the word DeFi in the digital world. And the buzz is not irrelevant, it is only true to call DeFi the best performing digital asset In the past year. Some of the DeFi tokens have performed exceptionally well.
According to CoinMarketCap, these are the top 10 DeFi coins in the crypto market right now:
- ERGO : Ergo is a revolutionary token based on Blockchain protocol aimed to secure financial contracts on the DeFi platform. Ergo is a proof of work Blockchain technology that ensures more privacy by using features like zero knowledge proof, ring signature,etc. The current market price of Ergo is $6.93. The price has increased by 10.38%. The trading volume has already seen an increase by 8.96%.
- UNFEDERAL : Unfederal is a Blockchain based banking company. It provides security and services to small banks and lenders. This Unfederal reserve intends on bridging the gap between lending fiat currency and lending digital assets. The present price of Unfederal reserve is $0.1254, which shows a gradual downfall by 1.71%. The trading volume in the market has also seen a decrease by 5.61%.
3. AMP : AMP provides digital assets like DASH, BCH, BTC, BAT, etc. for staking and sending them across. With AMP, one can be assured to have Decentralised risk with the help of smart contract features. It provides collateral as a service. It’s current price is $0.06123. This indicates a fall in the prices by 0.98%. The trading volume in the market has also decreased by 12.01%.
4. UNIT :Unit is a DeFi token which aims to bridge the gap between traditional centralised money and digital decentralised finance. The token uses Blockchain technology to secure, store or transaction your data. It has currently achieved 5 million users, due to its user friendly ecosystem. The current market price is $10.54, which shows that there is an increase in price by 0.43%. The trading volume has simultaneously increased.
5. METER :Meter is a DeFi token with a distinct economic base. It provides decentralised money that allows a decentralised business to grow. Meter is also known for its fast and scalable nature. Thousands of transactions can be processed within seconds. The current market price of meter is $2.41, which shows that the prices have increased by 8.84%. The trading volume has simultaneously increased by 13.25%
6. ASKO :Asko is a unique DeFi platform that allows its users to lend pools in the money market, stake to get the best Rewards and also earn from the lottery. The lottery feature distinguishes asko from other tokens. The current price of asko is $0.03007 indicating a rise in the price by 0.24%. The trade volume has also increased by 6.90%.
7. TERRA :Terra claims to be the most attractive to hold and the easiest to spend. This is because anchor protocol makes it easy to deposit and store terra Coins to earn rewards. The terra Coins are said to offer instant settlements that too at very low fees. The current price of terra coins is $5.38 and there is an increase in price by 1.88%. even though the prices are rising, the trade volume has decreased by 47.33%
8. UniCrypt :Unicrypt is a decentralised DeFi platform aiming to bring more decentralised services into the market. It was launched in 2020 and entirely focuses on scalability, and functions on the trust of people. The token allows investors to lock their liquidity provider tokens. The current price of Unicrypt is $432.91. There has been a 1.26% fall in the current price which resulted in 3.27% decrease in the trading volume.
9. THORChain :THORChain is a decentralised liquidity network that allows you to deposit your digital assets or the Tokens that you hold into liquidity pools and gives back considerable returns. The platform is completely autonomous and Decentralised. The current price of THORChain is $6.32 which indicates a 7.09% rise in the prices. The trading volume has however decreased by 15.14%
10. Perpetual : Decentralised perpetual contracts are the largest derivatives DEX According to trading volume. It is available worldwide through public Blockchains and offers its users to trade any kind of asset they like including fiat, commodity and gold bearing 10X leverage for its traders. The current market price is $5.12 and the price has increased by 6.52% . The trading volume has increased by 115.69%.
This is a general overview of the best DeFi Tokens according to their performance and the returns they offer. It is to be noted that all the digital assets are speculated and the prices can change every minute. Despite the changes, it is no doubt that DeFi has captured the major part of the crypto’s attention.
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