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TOP 5 DeFi Tokens with Highest ROI for 2020

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The past few years have proven cryptocurrencies to be a massive returning digital asset in terms of investments. The cryptocurrency market is volatile and the top 10 cryptocurrencies have never changed the ranking for the past 11 years now. This makes it one of the best investments to get the highest possible returns. In 2020, […]

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The past few years have proven cryptocurrencies to be a massive returning digital asset in terms of investments. The cryptocurrency market is volatile and the top 10 cryptocurrencies have never changed the ranking for the past 11 years now.

This makes it one of the best investments to get the highest possible returns. In 2020, when everyone is looking for Digitalization, Secure store of value, microtransactions, and smart contracts, Defi becomes all the way more important.

Today we will be sharing some of the Defi tokens which have the highest returns. But before we get into them let us understand DeFi.

What is DeFi?

To sum up you can define DeFi (Decentralized Finance) as a universe of decentralized application which enables the use of financial goods or service across the crypto asset exchange, doing Algo trading, lending and borrowing in the market, making synthetic assets, etc.

The thing that people really love about DeFi is that anyone having access to a decent network connection can use it.

Why invest in DeFi?

DeFi has been a very fast growing space in the crypto universe. But Still, there’s an ample amount of scope as the market has not yet saturated and the volume of DeFi ecosystem has still not surpassed the general crypto market.

Thus, by far DeFi has gained more or less a positive media reach and even more praises as the latest way of lending, borrowing, and saving.

Not only this DeFi has a lot to promise and has fulfilled some of it which is clearly visible the strong growth of some DeFi based tokens seen in the last few months of 2020.

Also, if you are not someone who is in for the long run, don’t worry. Some of the popular apps in the DeFi ecosystem have shown really good gains even in the short run let alone the long run.

If you want an example, the best here would be Aave. Aave is a London based DeFi lending platform and it overperformed the bitcoin in the second last week of June with a 66.46% gain over the week.

If you have a look at this chart you can see the returns over the span of last 7 days, 30 days, and 90 days. (Data recorded on June 22, 2020)

(source: cointelegraph)

Having talked about most of the necessary knowledge, let us now actually have a look at the top 5:

Top 5 DeFi Tokens with highest ROI:

  1. AAVE

Aave is a platform that helps you earn interest on your deposits and assets. They were initially set up as a P2P lending model but now they have switched to the pool based model.

It is similar to an ABS (Asset-Backed Security) wherein a user deposits its funds in the pool of assets and this can be borrowed by anyone by depositing a token as collateral.

Aave is becoming an increasing popular DeFi lending protocol which is open source and a non-custodial protocol that helps in value creation in the money markets. The AAVE (LEND) operates on the Ethereum platform.

The current total supply is over 1,299,999,941.703. The price of Aave as of June, 11 is $0.185656 USD. There has been an upward trend in the token since its inception.

Currently, it is traded in over 26 active markets and amounts up to were $7,673,154.183 traded over the last 24 hours (June 11, 2020). Users can also earn interest on the deposits and can also borrow assets.

To learn more click here – AAVE

BUY AAVE

  1. Kyber Network Token

KNC allows anyone to swap their tokens in almost an instant without having the pain of going through exchanges.

The advantage Kyber Network Token has is that it allows its vendors to accept deposits in any form of cryptocurrency at the same time still getting the money out in their favored cryptocurrency.

Initially, it was built mainly for Ethereum, however, any smart contact-based DeFi can use it without issues.

Kyber has made its mark in being known as the liquidity infra for DeFi. It aggregates various sources into a single pool for liquidity and thereby providing the users for some of the best available rates.

Transaction on Kyber is fully based on-chain and is therefore completely verifiable and transparent. As of June 11, the last 24-hour trading volume is $86,858,497.

The supply in the market fluctuates in and around 180 million coins and 211 million coins. You can use block explorers to explore the address and the transaction details.

Some of which that can be used are etherscan.io, blockchair.com. If you want to explore more, you can visit their website by clicking this link- KYBER

BUY KYBER

  1. Elrond

The Elrond Network and the token ERD are made to provide thoroughly high performance along with the super-fast and high levels of scalability and interoperation facilities. Just like any DeFi, it primary goal is to provide a decentralized network with superior performance.

The goal is to compete with centralized ones with a more equal stratum. Their ideologies have made them come up with some high-level custom technologies named as Secure proof of Stake consensus mechanism and Adaptive State Sharding

Elrond’s price as of June 11, 2020, is $0.01225727. Along with that, the 24-hour trading volume is whopping $81,005,850.

ERD is currently performing really well with prices up by 37.2% in the last 24 hours (for June 11, 2020). There is a supply of 14 Billion coins and the highest supply of 20 Billion coins and it hovers in between.

Elrond is most traded on Binance. If you want additional info visit this link – ELROND

BUY ELROND

  1. Bancor Network Token

Bancor network allows users to convert different virtual currencies and tokens via its blockchain protocol in an instant without having to take them the hassle of using crypto exchanges like Coin Base unnecessarily.

Bancor enables automated and decentralized exchange across the blockchain network. The protocol is specially designed to provide liquidity as well as perform peer to peer trades in a single transaction without having any counterparty.

Till now bancor has been traded in over $2 billion in trade volume in the form of thousands of tokens and millions in fees which is generated by the speakers. The supply hovers in 66 million to 69.1 million coins.

You can use block explorers to explore the address and the transaction details. Examples of some that can be used are etherscan.io, and ethplorer.io.

If you want to learn more about bancor, then click this link – BANCOR

BUY BANCOR

  1. Synthetix Network Token

Synthetix ensures the issuance and trading of the so-called synthetic assets via its derivatives liquidity protocol.

Their network system can handle any asset that has transparent pricing and has the ability to provide on-chain exposure to the assets of the real world.

Synthetix Network Token price as of June 11, 2020, is $2.88. The last 24-hour trading volume for June 11, 2020, is $25,722,948.

The circulating supply is in between a minimum of 110 Million coins and a max supply of 193 Million coins. SNX is currently most traded on the Binance market.

You can use block explorers like ethplorer and blockchain to learn about addresses and transactions. For information about Synthetix, you can visit the below link to know more –  SYNTHETIX

BUY SYNTHETIX

With that, we come to the end of out list.

Conclusion

I hope you liked our list of DeFi Tokens with High ROI. With that, you must note that investments are always subjected to market risk and volatility.

It is essential to study the market thoroughly before making any informed decisions. The DeFi tokens provided in the list had some of the best last 1 year returns.

If you still have any doubts or want some suggestions regarding investment decisions, feel free to drop a comment down below and the CoinTikka team will help you out as soon as possible.

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Source: https://cointikka.com/top-5-defi-tokens-with-highest-roi/

Blockchain

Tim Draper Handpicks Netflix as the Next Company to Purchase Bitcoin

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Popular venture capitalist and Bitcoin bull Timothy “Tim” Draper predicted that major online streaming platform Netflix could be the next company to join the bitcoin buying bandwagon.

Next Bitcoin Investor Could Be Netflix

Speaking in a recent episode of the Unstoppable Podcast, Tim Draper stated that Netflix could be the next in line to add bitcoin to its balance sheet. According to him, the company’s co-founder and co-CEO, Reed Hastings, makes Netflix a likely bitcoin investor. Draper buttressed his point, saying:

“I think Reed Hastings is a very innovative guy and has a lot of creative thinking and I think he still controls the reins at Netflix. And so I think that might be the next big one to fall.”

Meanwhile, the venture capitalist mentioned social media giant Facebook, as well as other major companies like Apple, and Google, as likely candidates to invest in bitcoin. However, Draper noted that the companies were instead trying to create a centralized currency of their own.

Draper also stated that if he was the chief financial officer (CFO) of any major organization, he would advise the company to allocate a portion of their portfolio to bitcoin. According to the BTC proponent, bitcoin served as a hedge against inflation.

Since Tesla’s billion-dollar bitcoin investment, there have been speculations about which company would emulate Tesla’s move. Increased institutional interest in bitcoin is largely responsible for BTC’s bullish momentum. Meanwhile, Firms like Microstrategy and Square recently added to their bitcoin holdings.

Amazon Likely to Accept Bitcoin as a Payment Method?

Apart from pitching Netflix as the next possible bitcoin investor, the venture capitalist stated that the retail giant Amazon could start accepting bitcoin. Adding that, people could use the flagship cryptocurrency to purchase products on Amazon.

Back in February, there were reports that Amazon was looking to introduce a new project that would enable customers to convert cash into digital currency. While the project would launch in Mexico, the company did not state what digital assets it would support, although there were speculations that the company may not use popular crypto-assets like BTC or ether.

While also speaking on bitcoin’s price target, Draper said:

“The current currency holdings around the world in dollars is about $100 trillion and bitcoin’s market cap is just reaching a trillion now. So there’s no reason it can’t go up a 100 fold. It’s not like it is going to completely replace the dollar. Although I think people are going to laugh when they are trying to buy things with dollars in the future.”

The venture capitalist made a prediction earlier in 2020 that the price of bitcoin would reach $250,000 by the end of 2022 or early in 2023.

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Source: https://cryptopotato.com/tim-draper-handpicks-netflix-as-the-next-company-to-purchase-bitcoin/

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Ripple is committed to San Francisco, says co-founder Chris Larsen

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In October last year, Ripple co-founder Chris Larsen said that the firm may consider relocating to other countries citing the lack of regulatory clarity in the United States. Since then, many have speculated where the firm’s new headquarters will be located. However, amid a lawsuit with SEC regarding an alleged illegal securities offering, and XRP’s dwindling price, Larsen made a new announcement recently that stated that the firm was here to stay. 

Speaking to The San Francisco Chronicle, co-founder said that Ripple’s global headquarter will remain in San Francisco. He added: 

We’re committed to the city. It’s got the most diversity, creativity…it’s got the critical mass.

Earlier, CEO of Ripple, Brad Garlinghouse, hinted at a possibility that Ripple could move out of the US, given its “lack” of a regulatory framework. He stressed that the country was “out of sync” and needed to implement a clear regulatory framework regarding crypto.

At the time, the CEO said that he was considering whether Ripple would benefit from relocating to a country where regulations were more clear. He admitted to being impressed by how the UK and other G20 nations including Singapore, Japan, and the UAE had “clear regulatory frameworks” that allowed for “healthy markets to develop.”

Meanwhile, another leading crypto firm in the neighborhood has decided to do away with its headquarters altogether. Coinbase CEO Brian Armstrong said that amid the firm’s work from home policies they choose not to have a base in San Francisco, but will continue to keep their offices open. Stating that the company is “decentralized” the CEO added:

As we’ve moved to a remote first environment, we realized that we no longer have a headquarters located in any one city.


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Source: https://ambcrypto.com/ripple-is-committed-to-san-francisco-says-co-founder-chris-larsen

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3 key Ethereum price metrics show pro traders are aiming for $2K ETH

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On Feb. 20, Ether (ETH) price rallied to a new high at $2,015 and this caused multiple indicators to display signs of excessive optimism. While the excitement could be easily justified by Ether’s  year-to-date 176% gain, these warning signs should not be ignored.

On of the primary driving factors of the current bullish sentiment is the launch of CME ETH futures and Grayscale Investments ETH Trust reaching $6.3 billion assets under management. The DeFi phenomenon also continues as there is currently more than $21 billion worth of Ether locked in DeFi.

Crypto Fear & Greed Index. Source: alternative.me

Currently, the Crypto Fear & Greed Index is at 93, indicating “Extreme Greed” according to its methodology. Many traders use the metric as a counter trading signal, meaning, the extreme fear level can be a sign that investors are bullish and a buying opportunity is present. In contrast, when investors are getting too greedy, it could be a sign that the market is due for a correction.

Unlike the excessively leveraged retail traders, the more experienced market makers and whales hs been skeptical of the never-ending rally in Ether. Regardless of the rationale for the price peak, the 36% price correction that followed was accelerated by large liquidations.

Ether futures contracts aggregate liquidations. Source: Bybt.com

The liquidation of $2 billion in long futures contracts from Feb. 19 to Feb. 23 represented 28% of the total open interest. Thus, one should expect significant deterioration in market sentiment, as depicted on the previous Fear & Greed indicator.

Surprisingly, none of that happened on the Ether derivatives markets, as both futures contracts premium (contango) and the options skew remained bullish.

The futures premium held very healthy levels

By measuring the expense gap between futures and the regular spot market, a trader can gauge the level of bullishness in the market.

The 3-month futures should usually trade with a 10% or higher premium versus regular spot exchanges. Whenever this indicator fades or turns negative, this is an alarming red flag. This situation is known as backwardation and indicates that the market is turning bearish.

OKEx 3-month ETH futures basis. Source: Skew.com

The above chart shows that the indicator peaked at 39% on Feb. 20 as Ether touched its all-time high. Nevertheless, it has kept above 16% during the entire correction down to $1,300. This data shows that professional traders remained confident in Ether’s price potential.

The options skew remained neutral-to-bullish

When analyzing options, the 25% delta skew is the single-most relevant gauge. This indicator compares similar call (buy) and put (sell) options side-by-side.

It will turn negative when the put options premium is higher than similar-risk call options. A negative skew translates to a higher cost of downside protection and indicating bullishness.

The opposite holds when market makers are bearish, causing the 25% delta skew indicator to gain positive ground.

ETH options 25% delta skew. Source: laevitas.ch

Over the past month, there hasn’t been a single incident of a sustainable positive delta skew. Therefore, there is no evidence that option traders demanded more significant premiums for downside protection.

This data is very encouraging, considering that Ethereum faced a heavy sell-off but the futures and options metrics discussed above held bullish levels during the downturn.

As Ether managed to recover quickly from its recent $1,300 dip, investors gained further confidence that the uptrend had not been broken.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Source: https://cointelegraph.com/news/3-key-ethereum-price-metrics-show-pro-traders-are-aiming-for-2k-eth

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