Top 5 DeFi Coins In 2021 Being Traded by DEFI Technologies Inc. (NEO: DEFI)

DEFI Technologies Inc. (NEO: DEFI)在2021年正在交易的5大DeFi币
Published on: May 21, 2021
Author: Amy Liu

This article explains the top 5 largest DeFi coins on the market today, giving investors a better view of what DEFI Technologies is doing.

And Why They Matter to Investors

In 2020, DEFI Technologies Inc. (NEO: DEFI) was listed in Canada with the promise of providing institutional and retail investors with exposure to the growing DEFI cryptocurrency market.  The company’s mission, according to their website, is to “drive investments into decentralized finance and incubate new projects to further develop ground-breaking protocols that will continue to fundamentally reshape the global financial system.”

While most of the capital markets are now beginning to dip their toes into the crypto markets and decentralized finance, everyday investors may not fully understand what DEFI coins or tokens DEFI Technology is trading and investing in, let alone what function these assets serve.

This article explains the top 5 largest DeFi coins on the market today, giving investors a better view of what DEFI Technologies is doing.

Chainlink (LINK)

Market Capitalization: $ 12,653,312,222

Volume (24h): $ 5,426,735,908

Circulating Supply: 426,509,554 LINK

Chainlink is a decentralized oracle network designed to address a fundamental data exchange flaw that currently exists within blockchain smart contracts. Smart contacts are safe, secure, immutable, and verifiable; however, in their current state they are limited to IF/THEN operations. Chainlink oracles act as a bridge between blockchain smart contacts and outside data sources, APIs, and payment systems.

LINK tokens are Ethereum built digital asset tokens used to pay for services on the Chainlink network and can be bought and sold for fiat or other digital currencies.

Why should people care about Chainlink?

The possibilities for Chainlink are limitless as blockchain technology becomes increasingly popular outside the cryptocurrency market. In terms of market cap, Chainlink currently holds the position as the largest DeFi coin.

Last week saw Chainlink surge to a new all-time high, hitting $52.88. While LINK has since come down from Monday’s high, investors remain bullish on the long-term potential for Chainlink.

Uniswap (UNI)

Market Capitalization: $13,315,234,579

Volume (24h): $2,218,420,725

Circulating Supply: 564,810,092 UNI

Uniswap is a hugely popular decentralized exchange (DEX) used for trading any Ethereum-based tokens. What sets Uniswap apart from other centralized crypto exchanges (CeFi) is that it exists in the DeFi environment where trades are facilitated by automated market maker protocols rather than a centralized book, removing any middleman requirements and identity verification.  The Uniswap protocol empowers developers, liquidity providers and traders to participate in a financial marketplace that is open and accessible to all.

Why should people care about Uniswap?

Uniswap is currently the second-largest DeFi coin exchange based on market share and has quickly emerged as a foundational DeFi infrastructure. It has built a suite of tools for users to access the Uniswap protocol and stays true to the idea of cryptocurrency being a decentralized asset by allowing users to operate in a DeFi token environment.

Since its inception, the Uniswap protocol has supported more than $20 billion in trade volume and presently has over $6 billion in total value locked (TVL) into contracts.

In September 2020, Uniswap introduced its own DeFi token (UNI), which has since become the top DeFi token by market cap.

Wrapped Bitcoin (WBTC)

Market Capitalization: $7,170,976,518

Volume (24h): $751,865,406

Circulating Supply: 179,064 WBTC

Wrapped Bitcoin is an ERC20 token created to allow BTC holders to access Ethereum-based wallets, Dapps, and smart contracts. One BTC can be exchanged for one WBTC, allowing WBTC holders to participate in the DeFi token apps popular on Ethereum but not available through centralized CeFi exchanges.

Why should people care about Wrapped Bitcoin?

WBTC ranks third for DeFi coins with a market cap over $7 billion. Ethereum presently dominates the DeFi market; however, Ethereum control of the DeFi market is beginning to wane a little as other blockchains work to break into this rapidly emerging sector. Given crypto investor’s love of Bitcoin and growing interest in DeFi coins, it’s almost guaranteed that WBTC will begin popping up on other blockchains very soon.

WBTC continues to gain momentum as crypto investors shy away from trading their BTC holdings, preferring to hold on to them for the long term. WTBC enables Bitcoin holders to earn passive rewards in the DeFi environment without relinquishing control.

Terra (LUNA)

Market Capitalization: $3,974,919,929

Volume (24h): $820,249,607

Circulating Supply: 382,354,513 LUNA

Terra is an innovative blockchain protocol that uses some pretty interesting Tokenomics to provide a suite of fiat-pegged stablecoins. Terra combines the price stability of fiat currency with blockchain technology and DeFi infrastructure.

Why should people care about Terra coin?

Terra stablecoins are unique in that they operate outside of the Ethereum ecosystem, the platform most commonly associated with DeFi coins. Terra is Tendermint-based and built on the more extensive Cosmos network.

In January 2021, Terraform raised $25 million in a new round of financing from Galaxy Digital, Coinbase Ventures, Pantera Capital and others looking to capitalize on the growing DeFi ecosystem.

PancakeSwap (CAKE)

Market Capitalization: $3,232,190,036

Volume (24h): $918,725,523

Circulating Supply: 164,900,128 CAKE

Like Uniswap, PancakeSwap is another decentralized exchange (DEX) that operates on an automated market maker (AMM) protocol. PancakeSwap runs on Binance Smart Chain (BSC). In terms of DEX operation, there is very little that differentiates PancakeSwap from Uniswap; however, it offers two of the best yield farming tools in DeFi and a lottery for CAKE coins, both of which are unique to PancakeSwap.

Why should people care about PancakeSwap?

PancakeSwap offers some of the best of DeFi farming opportunities for liquidity providers in order to incentivize liquidity pools. The liquidity grab has so far worked as intended; PancakeSwap briefly overtook Uniswap as one of the largest decentralized exchanges in terms of market share and trade volumes. It currently has over $9 billion TVL.

The most significant advantages of PancakeSwap versus other DEX’s are the ability to earn more DeFi tokens, lower fees, and faster transaction speed.

More About DEFI Technologies

DEFI Technologies is focused on giving institutional and retail investors equal access and opportunity to benefit from participation in the DeFi sector.

Through investment and incubation of new projects and ground-breaking protocols, DEFI technologies is also helping shape the future of dementalized finance and transforming global financial systems as we know them.

Blockchain Technology