5 Best DeFi Tokens To Watch Out This Week

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Last Updated January 19th 2023
5 Min Read

5 Best DeFi Tokens To Watch Out This Week - Our Picks 

These are the 5 best DeFi tokens to watch out for this week. We have also included a brief summary of these DeFi coins for you to make an informed decision. 

Uniswap - One of the crucial players in the DeFi sector. 

Chainlink - The go-to decentralized oracle network.

Tezos - One of the best DeFi tokens to add to your watchlist. 

Avalanche - The top low-cost Layer-1 blockchain. 

Curve DAO - A crypto with massive upside potential. 

 

A Closer Look At The 5 Best DeFi Tokens To Watch Out This Week

Decentralized finance is constantly evolving and rising in popularity, opening new opportunities for crypto traders and investors. DeFi allows users to have complete control of their currency without the need for a centralized middleman such as a bank, opening a way for coin holders to have full control over their finances. 

DeFi has indeed disrupted the traditional finance sector dramatically, and the steady rise of cryptocurrency adoption shows that this trend is here to stay. Let’s see why these 5 best DeFi tokens are the best to watch out for this week if you are planning to begin your investment journey. 

Uniswap (UNI)

Uniswap is the most popular decentralized exchange (DEX) that hosts most of the top DeFi projects in the market. UNI has positioned itself as a trustless and highly decentralized financial infrastructure and the most used DEXs on the planet. The crypto is at the forefront of the trend where we saw a shift from centralized cryptocurrency exchanges to decentralized exchanges. 

There are almost 310,000 Uniswap DAO members and over 1.5 million users on the Uniswap exchange. Thanks to its all-around market performance and potential to ensure good returns, UNI is one of the best DeFi tokens to watch out for this week. Uniswap has also started to mark its footprints in the non-fungible token (NFT) trading business with the launch of its NFT marketplace aggregator. Users can now seamlessly trade NFTs on its native protocol, adding fuel to the network's adoption. 

buy uniswap

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Chainlink (LINK)

Chainlink is unarguably the most popular decentralized oracle in the market. LINK is one of the best DeFi tokens that is dedicated to bringing off-chain data sources onto the blockchain, which could be used by other Web 3.0 projects. Chainlink’s oracles are used throughout the DeFi sector for offering pricing data to various projects. 

With ground-breaking technology and unique use cases, LINK has found real-world applications in the areas like employing satellite imagery in the military for gathering vital information, initiating insurance payouts, global trade, etc. Also being the first project to offer oracles services, Chainlink was adopted by key players like Aave, Hedera, and Compound, making it the go-to platform for several DeFi crypto projects. 

buy chainlink

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Tezos (XTZ)

Tezos is one of the best DeFi tokens to watch out for this week as it has outlined its vision to become one of the fastest blockchains in the world by mid-2023. XTZ is a DeFi coin similar to but more efficient and easily upgradable than Ethereum. Tezos aims to process 1 million transactions per second, and the network can be easily upgraded with zero downtime, ensuring that it always boasts the latest technology. 

However, one of the biggest success stories for Tezos recently was its entry into the area of music NFTs. Thanks to its highly advanced blockchain network, numerous high-profile artists, like Doja Cat, have already launched music NFTs on the blockchain. In addition to this, there are speculations that Spotify and Warner Music could use Tezos for their NFT projects. Despite all the restrictions, Tezos is also a leading art blockchain in China. This could bode well for the price of XTZ, as Tezos would see increased adoption in the coming years. 

buy tezos

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Avalanche (AVAX)

Developed to become a safe and efficient payment system from scratch Avalanche has set itself apart from other cryptos with no clear-cut real-world use cases. Although investors lost confidence in AVAX, with its prices falling off dramatically during the 2022 bearish market, they are quite optimistic about this DeFi coin in 2023. AVAX is used to pay transaction fees and to secure the network. 

Being a smart contract DeFi platform, Avalanche makes it easier to cross-operate with various NFTs. The crypto employs a unique Avalanche consensus protocol that allows for near-instant transactions with instant finality. This gives AVAX numerous use cases within the DeFi sector. 

buy avalanche

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

Curve DAO Token (CRV)

Curve DAO serves as a decentralized exchange for stablecoins by employing an automated market maker (AMM) to manage liquidity. Curve DAO (CRV) is the utility token that fuels the Curve.fi DeFi protocol. 

The liquidity pool is one of the key technologies within the DeFi ecosystem. CRV stands out from its competitors as the platform focuses on connecting users interested in exchanging stablecoins and ERC-20 tokens via the exchange protocol, Curve. fi. The token holders can vote when they lock their holdings and can make decisions in matters like token burning schedules, changing transaction fee structures, and other things.

Curve DAO has partnered with platforms like Yearn. finance, giving the token numerous real-world values. CRV is one of the best DeFi coins to watch out for this week as with continuous improvements in the Curve DAO Token network, the crypto would rise to new highs in 2023. 

buy curve

Crypto asset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply.

The Bottomline 

Decentralized cryptocurrency technology is here to stay, and so are DeFi coins. These are the 5 best DeFi tokens to watch out for this week in 2023. These coins have a huge variety of use cases in multiple sectors, making them a profitable investment option.

Read More:

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