These DeFi cryptocurrencies have the potential to give good returns in 2022

DeFi or decentralised finance coins are now a household feature in the crypto market. Their importance in the financial world can now not be ignored.& DeFi platforms provide a space for borrowing, saving, lending and trading without the traditional bureaucracies of the financial markets. This popularity is making them a good option for investing. Since there are many such projects, it might be hard for you to decide the best that you can invest in. Here are some of the top ten best DeFi coins that you should consider.

Solana

Solana (SOL) is leading the pack thanks to its consensus mechanism. This coin utilises a proof of history mechanism to verify transactions. This mechanism has replaced mining and staking common in many projects. Instead, transactions on Solana are proven true by following a timestamp of previous transactions on the blockchain. This consensus mechanism allows faster transaction times. The coin is also a layer-1 platform since it does not require assistance from other platforms to enable transactions. These features make it a valuable and promising coin that you can expect to grow soon.

Avalanche

Avalanche or Avax is a top contender in the top ten best DeFi you can invest in. The coin is in direct competition with& Ethereum because of cheaper transaction costs and faster transactions. Currently, the coin claims to be the fastest smart contracts platform in the crypto and blockchain industry. Avax recently raised $230 million to support its projects and has had some meaningful connections with other blockchain projects, including Graph, Chainlink and SushiSwap. With the progression, this coin is taking and the interest it is garnering in this space, it is bound to be a top contender to invest and watch in 2022.

Fantom

Fantom is another coin that you should consider adding to your investment portfolio. Fantom presents attractive features that are set to make it a big deal in the blockchain industry. It is secure, enables breakneck transaction speeds, it is open-source, permissionless and decentralised. The coin has a high market capitalisation sitting at more than $3 billion and has recently recorded a high trading volume. This trend will continue into 2022 as the coin’s popularity grows in the crypto industry. It is a viable coin to invest in, in 2022 and expect good rewards.

Harmony

Launched in 2019, Harmony developers intended the coin to bridge scalability and decentralisation. It focuses on creating viable markets for intangibles and fungible tokens and sharing data. This project has had several significant partnerships and has raised about $300 million to develop its ecosystem. This fund has pushed up the value of this coin and attracted more users. The project's primary focus is on improving scalability between networks, making it a popular platform and an investment option. Projections indicate that the coin's price will increase in the next few months.

Waves

Wave is a unique coin operating a three in one ecosystem. It works as a decentralised exchange, a platform for launching tokens and a digital asset. It aims to encourage the mass adoption of digital coins and enhance flexibility in the industry. The platform allows developing and deploying smart contracts. It also makes it easy for users to create tokens without having any programming knowledge. With such features, the project is set to attract a lot of users that will give it more value. It is a viable coin to watch and invest in in coming 2022.

THORChain

Another top ten best DeFi is THORChain. Built using the Cosmos SDK and powered using Tendermint consensus mechanism, this protocol ensures that data for all transactions are untraceable. This feature has made it particularly popular with a lot of users and investors. THORChain is also fungible, meaning that owners can govern their currency without the need of a third party and at no cost. Its trading data shows that this token has a relatively high trading volume and a market cap exceeding $1.8 billion. With its popularity and quick adoption, THORChain is bound to grow in 2022, making it a good coin to invest in.

Kadena

Kadena is not a very popular coin, but it is making waves in the cryptocurrency industry. In the last 10 months, this coin has grown by an impressive 11256%. In about three months, the coin has recorded some big leaps rising from $2 to $27. Kadena, like most smart contracts platforms, is focusing on faster transaction speeds at a lower cost. It can currently handle about 480,000 transactions per second as compared to Ethereum's 20. This feature is attracting new users to the platform and pushing its price up. You should consider investing in it if it will keep up with its growth pattern.&

Curve

Curve is an interesting coin in the DeFi sector. The curve Finance project is currently the biggest decentralised exchange on Ethereum. Curve or Curve DAO is the governance token of the Curve Finance platform. The platform has two major use cases, including swapping cryptocurrencies and staking. It also has very low fees and some of the smallest price variations between stablecoins. Curve token is, thus, increasing in value as its platform continues attracting new users.

Oasis Network

The Oasis Network is a project working to rise through the ranks of the DeFi space. The platform is a& layer-1 privacy blockchain that makes use of a proof-of-stake consensus mechanism. Unlike Ethereum, where transactions are publicly accessible, on the Oasis Network, users can enjoy confidentiality. Its technological design is also quite impressive as it is a hybrid of Polkadot and Ethereum. Investors are also considering its transaction speeds of more than 1000 transactions per second. The token is bound to grow in value as it attracts more users making it a worthwhile investment.

Polkadot

Polkadot is an interesting project. It is a platform that allows independent blockchains to transfer information and transactions between one another using the Polkadot relay chain. This ability significantly increases the speed of transactions on this blockchain and is more scalable as compared to Ethereum. Providing such a platform enabling easy development of DeFi projects makes this a popular coin and a good investment option.

The post Top 10 best DeFi coins to invest in and watch in 2022 appeared first on Coin Journal.

You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.