Analyst shares 3 blue-chip DeFi altcoins to invest in

The DeFi altcoin market has been under pressure in the 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.

More recently, however, blue-chip DeFi altcoins have been on the rise as investors buy the dip. Analyst Kershaw Nyaga evaluates the best DeFi projects for long-term investments.

3 blue-chip DeFi altcoin projects worth watching for long-term investments

AAVE (AAVE)

Aave is a DeFi platform that makes it easy to invest in cryptocurrencies and allow them to borrow money. It runs 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 stablecoins. As of July, Aave’s total value locked (TVL) was over $5.58 billion.

Aave prices have more than doubled from their June lows. It is currently at its highest level in recent months. It’s a good investment due to its strong market share and long industry history.

Uniswap (UNI)

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

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

Uniswap’s total value locked (TVL) is over $5 billion, below new highs. UNI prices have also been recovering over the past few days. According to the analyst, its path to new highs for the rest of the year is clear.

Manufacturer (Manufacturer)

Maker is the world’s largest DeFi platform with over $7.7 billion in total value locked (TVL). This is a well-known protocol that helps people access funds. It uses its own stablecoin, Dai, which is an algorithmic currency. Maker is also the second largest oracle network in the world after Chainlink. Meanwhile, MKR prices have risen 30% since last month. It may continue to rise in the coming months.

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. As we quoted on Coinzigzag.com, we have seen countless hacks since last month. The largest DeFi altcoin projects by market cap are as follows.

Source of information: Compiled from COINZIGZAG by 0x information.The copyright belongs to the author Coin Zigzag, and may not be reproduced without permission