Best DeFi Coins to Buy For Crypto Recovery August 2022

By August 4, 2022DeFi
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DeFi Coins

The decentralized finance (DeFi) space suffered a major blow after the collapse of the Terra LUNA network in May. However, the DeFi ecosystem is recording a speedy recovery, and investors are looking for the best DeFi coins to invest in for solid gains.

Below is a list of the best DeFi coins to buy during the crypto market recovery in August 2022.

DeFi Coin (DEFC)

DeFi Coin is one of the newest yet most promising DeFi cryptos to buy in this month’s crypto recovery. DEFC is the native token for the DeFi Swap decentralized exchange (DEX). DeFi Swap provides a wide range of DeFi services, including crypto staking, swapping, and yield farming.

DeFi Swap allows investors to swap cryptocurrencies quickly and at lower costs. Moreover, cryptocurrency holders can also generate rewards for staking the platform’s native token, DEFC and partaking in liquidity pools for the wide range of assets supported by the platform.

The team behind DeFi Swap launched the platform in early May. The launch of DeFi Swap pumped DEFC prices by over 300%. DEFC is also one of the best utility tokens, as it unlocks incentives for holders.

During the past 14 days, data from CoinGecko shows that DEFC has gained by 35.5%. The gains mimic a recovery across the cryptocurrency market. Therefore, if the broader market continues with the uptrend this month, DEFC could be in for significant gains.

The long-term outlook for DEFC is also optimistic. At the beginning of 2021, the DeFi TVL was at $18 billion, which has now grown to $87.3 billion, according to DeFiLlama. The DeFi space has improved transparency, security, and accessibility, and some institutional investors are interested in the sector. This optimistic outlook makes a bullish case for DEFC.

Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.

Aave (AAVE)

AAVE is one of the oldest DeFi coins in the crypto industry. Aave was the first DeFi lending platform supporting non-collateralized crypto loans. The popularity of this platform among crypto investors has grown significantly, and interest in AAVE has also risen.

Over the past month, CoinGecko shows that AAVE has gained by 51.9%. The uptrend follows a recovery across the entire market, and if there is a sustained uptrend this month, AAVE holders could make substantial returns.

AAVE also has a promising future. The collapse of crypto lending platforms such as Celsius over the past few months has investors looking for DeFi projects with solid fundamentals. Aave has the third-largest TVL of $6.4 billion among DeFi protocols. Moreover, Aave is multi-chain, having launched on large blockchains like Ethereum, Avalanche, and Polygon, and on Ethereum scaling networks like Optimism and Arbitrum.

Aave also has positive developments happening this month that could propel price gains. User activity on the Aave lending protocol increased to a 2022 high earlier this month with the anticipated launch of the GHO yield-generating stablecoin. Last week, active addresses on Aave surged to 1860, with the growing activity attributed to users voting on a motion to launch GHO.

Cryptoassets are a highly volatile unregulated investment product.

Curve Finance (CRV)

Curve Finance is a DEX that is also vastly popular in the DeFi ecosystem. The Curve Finance protocol is created on the Ethereum blockchain and charges relatively low fees compared to other DeFi lending platforms.

One of the unique aspects of Curve Finance is that it mainly deals in the trade of stablecoins. Curve Finance has the fifth-largest number of crypto assets locked on its platform, according to DeFiLlama.

The CRV token has dropped by 91.2% below its all-time high. However, CRV is showing signs of a recovery, having gained 56% during the past month. The coin could make more gains this month as the crypto market records an uptrend. Moreover, as the DeFi sector recovers from the Terra aftermath, Curve Finance could rebound with solid returns.

Cryptoassets are a highly volatile unregulated investment product.

Maker (MKR)

MakerDAO is one of the most solid DeFi projects in the crypto space. Maker is home to one of the most popular stablecoins, DAI. MakerDAO is famed for being among the first decentralized protocols that embraced decentralized autonomous organization (DAO) governance.

Maker has the largest number of crypto assets locked among other DeFi protocols, with a TVL of $8.46 billion. The protocol has seen growing interest following the failure of several crypto lending platforms in recent months.

Maker survived the longest crypto winter of 2018 to 2020. Therefore, it is not only bound to make a strong recovery, but it can also withstand the persistence of the crypto winter.

Cryptoassets are a highly volatile unregulated investment product.

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