If we look at the DeFi tokens, you can currently see a marked decline in market value. At CoinMarketCap, the market value of DeFi projects is currently around € 61 billion. A few weeks ago, these were significantly more valuable. Nevertheless, such corrections can be used for a long-term entry.
For there is no doubt that the best DeFi projects currently still have future potential. Not all DeFi tokens will have a real use case in the long run, so appropriate diversification is required. Nevertheless, the DeFi sector, which has only opened up a small part of the gigantic market volume, should continue to grow in the longer term. Decentralized economy is a megatrend where people benefit from more transparency, trust, speed and lower costs.
Therefore, in the following article, we want to take a look at the best DeFi projects at the moment. Which five DeFi tokens offer long-term price potential and may currently be worth buying?
1. DeFi Coin (DEFC): Cryptocurrency with potential for long-term investors
In fact, DeFi Coin is already a cryptocurrency that was launched about a year ago. But the current price trend attracted a lot of attention to the DeFi coin. Because DEFC has exploded by over 175% in the last 30 days and has thus developed significantly better than the weakened overall market.
The current price increase is due to the launch of its own DEX DeFi Swap. It was originally supposed to start last year. But the developers focused on a technically flawless design. More features will be implemented in the future. Crypto-exchange, staking and yield breeding are already possible for the users.
Nevertheless, there has been profiteering over the past few days, which has meanwhile ruined about a quarter of the rally. As the team designed DEFC for long-term investors, an access could now be worthwhile. The transaction fee of 10% benefits the hodlers. Long-term DeFi Coin forecasts assume a bullish price trend.
2.0x Coin (ZRX): Blockchain protocol for crypto exchanges with Momentum
At the end of the current trading week, 0x Coin (ZRX) was one of the big winners in the crypto market. Looking at the 100 best cryptocurrencies by market value, 0x proved to be a big winner. With a performance of around 30%, the weekly gains could be extended.
The DeFi project currently offers an exciting access option, as the price is still more than 80% below the all-time high. Incidentally, it was already achieved about four years ago. But the 0x protocol is constantly evolving. Most recently, the protocol was implemented on the new Coinbase NFT platform. Trading volume increases steadily, as does the number of transactions using the 0x protocol.
At the same time, investors also believe in the future of the 0x protocol. Just under a month ago, another round of financing was completed, raising USD 70 million. Those in charge would like to use this to focus even more strongly on Web3 and DeFi.
3. Ethereum (ETH): Cheap ETH entry prior to consensus layer?
Ethereum is not a DeFi token by definition. Layer 1 blockchain is rather the leading network for DeFi tokens. If you look at the stocks in the DeFi sector right now, over 60% of the total value is locked on the Ethereum blockchain. Ethereum has lost market share in recent years. Nevertheless, it is still the undisputed number 1 for DeFi tokens.
This year, Ethereum’s market position may continue to improve once the Ethereum 2.0 upgrade to Consensus Layer is finalized. This should speed up transactions again and reduce gas charges. These were probably the main reasons why some DeFi projects preferred other networks.
The cryptocurrency crash also caused a massive correction movement for Ethereum. With a minus of about a third in the last month, the price level of just over 2000 US dollars seems attractive for an entrance.
Graph (GRT) Future-oriented indexing protocol for DeFi projects
If you look at the course development of The Graph (GRT) in the last few weeks, hardly anyone would think of counting the GRT token as one of the best DeFi projects in 2022. For there is no doubt that the mood around The Graph could be better. The DeFi token lost about 55% of its value in the last month and is currently trading almost 95% below the highest level ever.
However, the downturn can also be an exciting buying opportunity if you believe that The Graph has future potential as an indexing protocol. As an indexing protocol, networks like Ethereum use The Graph (GRT) to provide the necessary data. Such Oracle solutions are of eminent importance, especially for Smart Contracts.
GraphDay2022, which is about the targeted further development of the protocol, is scheduled to take place in two weeks. Because the basic establishment must be promoted, which must also have an impact on the BRT process in the medium term.
# GraphDay2022 is two weeks away ⏳
Want to join the community of web3 builders, innovators, and enthusiasts shaping the future of the Palace of Fine Arts in San Francisco, but need help getting your ticket?
Apply for a scholarship! https://t.co/YpXkcaCkWK
– The Graph (@graphprotocol) May 19, 2022
5. Kyber Network Crystal v2: DeFi token with bullish feel
Most recently, the Kyber Network Crystal v2 (KNC) developed stronger than the overall market. In the last seven days alone, the price has doubled. At the same time, only about 50% below the record high was reached just 23 days ago. This makes KNC one of the DeFi tokens with the strongest bullish mood in May 2022.
The Cyber Network is one of the best DeFi projects at the moment, which wants to prevent a lack of liquidity in the DeFi sector. Programmers should evolve without taking into account liquidity to drive the adaptation of DeFi and the increasing adoption. The Kyber Network Crystal v2 protocol thus gathers liquidity from several sources. The native token KNC is then used to pay the fees.