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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

Elon Musk’s latest Dogecoin ‘trolling’ isn’t impressing the crypto community

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Tesla and SpaceX CEO Elon Musk argued on Twitter today that Dogecoin (DOGE) can beat Bitcoin (BTC) “hands down,” with just one small condition—almost every DOGE’s fundamental aspect needs to change, effectively turning it into a different token altogether.

So no big deal then.

“Ideally, Doge speeds up block time 10X, increases block size 10X & drops fee 100X. Then it wins hands down,” Musk replied to a Twitter user who was arguing that “Elon is choosing $DOGE because Dogecoin is better than Bitcoin in many fundamental ways.”

Judging by the community’s reaction, a lot of users were left feeling unsure whether Musk was “trolling” or not. One commenter pointed out that if Dogecoin’s blockchain would produce 10-megabyte blocks every six seconds, this will make the network vulnerable to spam attacks.

“For those bad at math. 100X higher transaction volume with 100X lower fees means total fees earned stay same. Low fees & high volume are needed to become currency of Earth,” Musk retorted.

When asked why he won’t just make a completely new cryptocurrency that can satisfy these technical requirements, Musk explained that it’s a “big pain in the neck to create another one.” Still, he implied that this is also a possibility, but “only if Doge can’t do it.”

In his turn, Adam Back, CEO of Bitcoin development firm Blockstream, questioned Musk’s blockchain expertise in general.

“That’s not how any of this works, Elon Musk. Would be like someone wading into SpaceX with ideas for a cuboid rocket fueled by water,” Back wrote, adding, “He’s just trolling. And probably hitting a blunt.”

Other users were less lenient, arguing that if “Donald Trump has been banned for ‘being bad’ for people,” there is no reason why Musk “should keep having this privilege.”

In general, many commenters pointed out that for a blockchain network to drastically increase its throughput and scalability, it needs to make compromises in other areas such as security and decentralization. 

“Have you tried making your spaceships 10x lighter, and 10x faster, and also 10x bigger? This would ideally save on energy and efficiency,” another user ironically asked Musk.

In the end, regardless of whether Musk was actually joking or not, his behavior on Twitter—especially when it comes to cryptocurrencies—has been a bit over the top lately, some commenters argued.

“Because [Musk] has millions of newcomer users who may not know the difference. Funny trolling to him = rekt newbs in real-life,” Back concluded.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptoslate.com/elon-musks-latest-dogecoin-trolling-isnt-impressing-the-crypto-community/

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Blockchain

Bitcoin Hashrate of Major Chinese Mining Pools Drops Rapidly

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Bitcoin network’s hashrate recorded a rapid drop today across major Chinese mining pools including f2pool losing 11.26% a spool lost 16.23%, Binancepool recorded a decline of 14.38%, and Huobipool lost 23.68%. The rapid decline is being attributed to another power outage in Sichuan province. Industry insiders claimed the decline might be temporary and might bounce back soon.

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Merchant Token

The decline in the mining pool’s hashrate comes days after the Bitcoin network’s mining hash power reached a new ATH. Bitcoin price on the other hand continued to consolidate under $50K. The top cryptocurrency saw a major sell-off a few days ago amid growing inflow on exchanges aided by Elon Musk-led Bitcoin network’s environmental impact FUD.

Bitcoin has been in a consolidation phase for over a month now after reaching a new ATH of $64,837, it recorded a sharp correction soon after falling over 20%. The recent sell-off was attributed to several factors including declining institutional interest.

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Will Bitcoin Price Suffer?

A similar power outage in China last month saw the Bitcoin mining hash rate drop by over 25% leading to another major market sell-off. The last hashpower fud was also marred into a lot of controversies as many claimed different reasons for the power outage and the amount of hash power decline.

Bitcoin price is currently trading just under the $49K mark with a 2% decline over the past 24 hours. With every major sell-off in the market, many have called it a short-term price top, but on most occasions, bitcoin has defied the odds to bounce back to new ATHs. On the other hand, Bitcoin adoption has continued to flourish as many public companies have announced Bitcoin purchases over the past month. Apart from Bitcoin, manor altcoins including ethereum, Litecoin have also registered a minor decline falling over 5% in the past 24 hours.

To keep track of Crypto updates in real time, Follow us on Twitter & Telegram.

Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://coingape.com/bitcoin-hashrate-major-chinese-mining-pools-drops-rapidly/

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Blockchain

Coinbase finally releases a timeline for listing Dogecoin

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Since Coinbase’s direct listing, it released the transcripts of its Q1 Earnings Call. During the call, the company addressed its plans of listing Dogecoin (DOGE), thanks to its ever-rising demand.

Coinbase‘s CEO Brian Armstrong talked about the exchange’s plans for the memecoin. He stated:

“So, to answer your question directly, we plan to list DOGE in the next six to eight weeks. And then more broadly, we’re going to be focused on how we can accelerate asset addition in the future.”

With regard to queries on what parameters were used to qualify various coins or tokens to add to the exchange and why there weren’t more choices? Armstrong stated:

I think there’s going to be millions of different crypto assets out there, especially as we see new assets being created for new companies being created and there’s even NFT’s and individuals who are tokenizing their time and so in a world where there’s going to be millions and millions of these crypto assets out there, we get this question a lot, how are you deciding, which ones to add, and how can you accelerate it?

Without directly alluding to XRP, the digital asset that has been entangled in a legal battle with the SEC, Coinbase CEO also stated that Coinbase had worked with CRC to create a regulatory framework for coins. He added:

So, today, we use a number of factors, we look at cybersecurity around the coin to make sure that there’s not going to be an issue that would cause customer loss. We also look at it from a legal point of view and a compliance point of view. There’s various concerns out there about securities, for instance, and we’ve worked with things like the Crypto Rating Council to help create clear regulatory frameworks for this.

Data from ICO Analytics stated that the total web traffic for crypto exchanges had increased by 43% over the past month.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/coinbase-finally-releases-a-timeline-for-listing-dogecoin

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