Analyst Shared 3 Blue Chip DeFi Altcoin Projects for Investment!

The DeFi altcoin market has been under pressure for the past few months following the collapse of Terra and its ecosystem. The total value locked in its ecosystem (TVL) has dropped from $250 billion to nearly $72 billion. Recently, however, blue-chip DeFi altcoins have been rallying as investors buy the dip. Analyst Kershaw Nyaga evaluates the best DeFi projects for long-term investment.

3 blue-chip DeFi altcoin projects to watch for long-term investment

AAVE (AAVE)

Aave is a DeFi platform that makes it easy to invest in cryptocurrencies and allows them to borrow money. It operates on various Blockchains including Ethereum, Polygon, Arbitrum, Harmony, and Avalanche. It has grown its ecosystem to include other features. For example, Aave developers created a smart contract platform that allows people to build applications on the network. They are even working on a stablecoin. Aave’s total locked value (TVL) is over $5.58 billion as of July.

Aave price has more than doubled from June lows. It is currently trading at the highest levels in recent months. It is a good investment due to its strong market share and long history in the industry.

Uniswap (UNI)

Uniswap is another popular blue-chip DeFi altcoin for long-term investment. Specifically, it acts as a leading Automated Market Maker (AMM) platform that allows people to trade, earn and build decentralized applications. Uniswap has expanded to the Ethereum, Polygon, Optimism and Arbitrum ecosystems. Over the past few years, it has processed over $1.1 trillion in transactions.

3 Blue Chip DeFi Altcoins for Investment

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

Uniswap saw its total value locked in (TVL) over $5 billion, which is less than ATH. UNI price has also been recovering in the last few days. According to the analyst, the path is clear for it to reach ATH levels for the rest of the year.

Maker (MKR)

Maker is the world’s largest DeFi platform with a total locked value (TVL) of over $7.7 billion. It is a well-known protocol that helps people access capital. It uses its own stablecoin known as Dai, which is an algorithmic coin. Maker is also the world’s second largest oracle network after Chainlink. Meanwhile, the MKR price has gained 30% since last month. It is likely to continue to rise in the coming months.

MKRUSDT 2022 07 17 14 15 29

DeFi stands for “decentralized finance”. It is a subset of the cryptocurrency market. DeFi applications aim to decentralize the traditional financial industry. However, these projects are not yet vulnerable to attacks. AmkNews.com As we have reported, we have seen countless hacking attacks since last month. The largest DeFi altcoin projects by market cap are as follows.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.