Check Out These Top Three DeFi Coins To Invest This Month

With thousands of DeFi crypto projects available in the market, it’s still a challenge to choose which one to invest in. This year, new DeFi trends include increased adoption of real-world assets onto the blockchain, increased interest in non-custodial dApps, new developments, DeFi scaling solutions such as L2 rollups and Cosmos app-chains, and more. 

In this case, the crypto industry is expanding quickly because of blockchain-based projects such as NFTs, GameFi, Metaverse, and of course the DeFi. And with so many things happening in 2022 and the first half of 2023, what more can happen in the upcoming month? In this article, let’s take a look at the best DeFi Coins worth investing in this June.

Uniswap (UNI)

Uniswap, a significant contender in the world of decentralized finance (DeFi), operates as a decentralized exchange (DEX). It leverages Automated Market Maker (AMM) technology, enabling users to trade tokens directly from their wallets, eliminating the need for intermediaries. UNI, the platform’s governance token, bestows voting rights upon holders, empowering them to actively contribute to the platform’s future advancements.

Recently, Uniswap has been getting excitement from the community due to its highly anticipated V4 release but has witnessed a rise in criticism surrounding the protocol’s performance. It seems that users have begun to question whether UNI token holders are still benefiting from the protocol’s performance. But users also express doubts about the fairness and the alignment of incentives for UNI holders.

Despite the criticisms, the protocol still appears to have a positive growth in terms of user activity noting an increase of 21.1% in daily active users over the past week. In recent weeks, UNI’s price went to a substantial surge by trading at $4.43 at this time of writing. 

Avalanche (AVAX)

Avalanche is a decentralized blockchain platform designed to offer rapid, reliable, and exceptionally scalable solutions for the development of dApps and financial services. It is particularly well-suited for establishing decentralized financial services and delivering the necessary tools for building lending platforms, borrowing protocols, decentralized exchanges (DEX), and yield farming services.

AVAX, its native token is used on Exchange Chain (X-chain) transactions like Ethereum and uses gas fees paid in ETH. So far, Avalanche has proven a thriving ecosystem with a TVL of $3 billion across its dApps.

Currently, AVAX’s price is at $11.35 with a 24-hour trading volume of $84.007 million. 

Despite the downtrend in its price, Avalanche continues to grow in Web3 gaming. In fact, it’s only a matter of time until AAA gaming studios come sniffing around. Avalanche will also launch “Arcad3”, a program built to onboard Web2 gaming companies and help them bring blockchain-integrated games to market. 

Chainlink (LINK)

Chainlink serves as a bridge between blockchain smart contracts and real-world data to enable secure and reliable data feeds for decentralized applications (dApps). It also connects to a wide range of external data sources, making it versatile and adaptable to various use cases within the DeFi space.

LINK is considered one of the best DeFi crypto coins because of the means of payment inside this decentralized information space. Chainlink users can also pay Oracle operators for their services using LINK tokens.

The price of Chainlink resisted initial fears of falling to selling pressures after Oracle’s decentralized network shipped 21 million tokens from its wallets. At this time of writing, LINK’s price is at $5.05 with a 24-hour trading volume of $114.07 million. 

Meanwhile, its development activity increased to 65.86 %. This suggests that network-connected public GitHub repositories have improved, leading to an alignment with more developer contributions to the project.

ABOUT THE AUTHOR See More

Sophia Cruz

Financial Writer - Asian & European Desks

Sophia is an experienced writer, reporter and newsdesk member, mostly on the financial sectors. For the past 5 years Sophia has covered a wide variety of topics such as the financial markets, economics, technology, fin-tech and trading. Sophia has been a part of the FX Leaders team since 2017 and works on producing valuable content and information for traders of all levels of experience.

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