Last Updated on July 1, 2021 by Shounak
The past few years have proven cryptocurrencies to be a massive returning digital asset in terms of investments. The cryptocurrency market is volatile and the top 10 cryptocurrencies have never changed their ranking for the past 11 years now.
This makes it one of the best investments to get the highest possible returns. In 2021, when everyone is looking for Digitalization, a Secure store of value, microtransactions, and smart contracts, Defi becomes all the way more important.
Today we will be sharing some of the Defi tokens which have the highest returns. But before we get into them let us understand Defi.
What is Defi?
To sum up you can define Defi (Decentralized Finance) as a universe of decentralized application which enables the use of financial goods or service across the crypto asset exchange, doing Algo trading, lending and borrowing in the market, making synthetic assets, etc.
People really love Defi because anyone having access to a decent network connection can use it.
Why invest in Defi?
Defi has been a very fast-growing space in the crypto universe. But Still, there’s an ample amount of scope as the market has not yet saturated and the volume of Defi ecosystem has still not surpassed the general crypto market.
Thus, by far Defi has gained more or less a positive media reach and even more praises as the latest way of lending, borrowing, and saving.
Not only Defi has a lot to promise and has fulfilled some of it which is clearly visible in the strong growth of some Defi-based tokens seen in the last few months of 2020.
Also, if you are not someone who is in for the long run, don’t worry. Some of the popular apps in the Defi ecosystem have shown really good gains even in the short run let alone the long run.
If you want an example, the best here would be Aave. Aave is a London-based Defi lending platform and it overperformed the bitcoin in the second last week of June with a 66.46% gain over the week.
Having talked about most of the necessary knowledge, let us now actually have a look at the top 5:
Top 5 Defi Tokens with highest ROI:
Aave is a platform that helps you earn interest on your deposits and assets. They were initially set up as a P2P lending model but now they have switched to the pool-based model.
It is similar to an ABS (Asset-Backed Security) wherein a user deposits its funds in the pool of assets and this can be borrowed by anyone by depositing a token as collateral.
Aave is becoming an increasingly popular Defi lending protocol which is open source and a non-custodial protocol that helps in value creation in the money markets. The AAVE (LEND) operates on the Ethereum platform.
The current total supply is over 1,299,999,941.703. The price of Aave as of June, 11 is $0.185656. There has been an upward trend in the token since its inception.
Currently, it is traded in over 26 active markets, and amounts up to were $7,673,154.183 traded over the last 24 hours (June 11, 2020). Users can also earn interest on deposits and can also borrow assets.
To learn more click here – AAVE
Kyber Network Token
KNC allows anyone to swap their tokens in almost an instant without having the pain of going through exchanges.
The advantage Kyber Network Token has is that it allows its vendors to accept deposits in any form of cryptocurrency at the same time still getting the money out in their favored cryptocurrency.
Initially, it was built mainly for Ethereum, however, any smart contact-based Defi can use it without issues.
Kyber has made its mark in being known as the liquidity infra for Defi. It aggregates various sources into a single pool for liquidity, thereby providing the users with some of the best available rates.
Transaction on Kyber is fully based on-chain and is therefore completely verifiable and transparent. As of June 11, the last 24-hour trading volume is $86,858,497.
The supply in the market fluctuates in and around 180 million coins and 211 million coins. You can use block explorers to explore the address and the transaction details.
Some of which can be used are etherscan.io, blockchair.com. If you want to explore more, you can visit their website by clicking this link- KYBER
The Elrond Network and the token ERD are made to provide thoroughly high performance along with super-fast and high levels of scalability and interoperation facilities. Just like any Defi, it primary goal is to provide a decentralized network with superior performance.
The goal is to compete with centralized ones with a more equal stratum. Their ideologies have made them come up with some high-level custom technologies named as Secure proof of Stake consensus mechanism and Adaptive State Sharding
Elrond is most traded on Binance. If you want additional info visit this link – ELROND
Bancor Network Token
Bancor network allows users to convert different virtual currencies and tokens via its blockchain protocol in an instant without having to take them the hassle of using crypto exchanges like Coin Base unnecessarily.
Bancor enables automated and decentralized exchange across the blockchain network. The protocol is specially designed to provide liquidity as well as perform peer-to-peer trades in a single transaction without having any counterparty.
Until now, bancor has been traded in over $2 billion in trade volume in the form of thousands of tokens and millions in fees generated by the speakers. The supply hovers in 66 million to 69.1 million coins.
You can use block explorers to explore the address and the transaction details. Examples of some that can be used are etherscan.io, and ethplorer.io.
If you want to learn more about bancor, then click this link – BANCOR
Synthetix Network Token
Synthetix ensures the issuance and trading of the so-called synthetic assets via its derivatives liquidity protocol.
Their network system can handle any asset that has transparent pricing and has the ability to provide on-chain exposure to the assets of the real world.
The circulating supply is in between a minimum of 110 Million coins and a max supply of 193 Million coins. SNX is currently most traded on the Binance market.
You can use block explorers like ethplorer and blockchain to learn about addresses and transactions. For information about Synthetix, you can visit the below link to know more – SYNTHETIX
With that, we come to the end of our list.
I hope you liked our list of Defi Tokens with High ROI. With that, you must note that investments are always subjected to market risk and volatility.
It is essential to study the market thoroughly before making any informed decisions. The Defi tokens provided in the list had some of the best last 1 year returns.
If you still have any doubts or want some suggestions regarding investment decisions, feel free to drop a comment down below and the CoinTikka team will help you out as soon as possible.
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