Decentralized Finance (DeFi) has come under intense pressure in 2022 as the volume of transactions drop. The industry’s total value locked (TVL) has crashed from over $250 billion to about $71 billion. Similarly, most DeFi tokens have plunged hard in the past few months. Still, there are some opportunities in the industry. Here are the best DeFi coins to buy in November.
Uniswap (UNI)
Uniswap is the biggest decentralized exchange (DEX) in the world. It is an exchange that handles over $400 million of cryptocurrencies on a daily basis. In its peak, Uniswap used to handle over $2 billion every day. It competes with the likes of PancakeSwap, SushiSwap, and dYdX among others.&
Uniswap price has dropped by 60% in 2022 as cryptocurrency prices retreat. It has also been affected by the falling TVL and daily average volume. Still, there are signs that the Uniswap price will continue recovering in the coming weeks. For one, Uniswap has emerged unscathed from the recent cryptocurrency sell-off.&
In addition, Uniswap’s developers recently raised $165 million from venture capital firms to fund its growth. Some of these funds will be deployed to boost its overall ecosystem and build new features like NFTs.&
Therefore, Uniswap price will likely continue rebounding as bulls target the important resistance level at $9.5.
How to buy Uniswap
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
dYdX (DYDX)
dYdX is a leading DeFi platform that is similar to Uniswap. It is a DEX that handles millions of transactions on a daily basis. An important feature is that it has some of the lowest transaction costs in the industry.
dYdX price will likely rebound in the coming months as investors cheer the launch of the dYdX Chain on the Cosmos ecosystem. It will be the fourth version of the ecosystem. By launching its own chain, dYdX hopes to incentivize developers to build apps on its ecosystem. It will also reduce fees for traders further.
How to buy dYdX
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.
AAVE (AAVE)
AAVE is one of the leading players in DeFi. It is a non-custodial platform that makes it possible for people to provide funds and borrow cryptocurrencies. AAVE is built on Ethereum and other chains like Polygon, Arbitrum, Optimism, Fantom, and Harmony. According to DeFi Llama, AAVE has a TVL of more than $8.32 billion.
AAVE’s price has crashed by more than 60% this year. Still, it is a good coin to invest in because it has survived the recent crypto sell-off, including the collapse of Terra. It also has a strong market share in its industries.
How to buy AAVE
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
The post Best DeFi coins to buy in November appeared first on CoinJournal.
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