DeFi tokens have taken center stage.
Today we'll cover the top 5 low cap DeFi tokens to watch for August.
Characterized by governance tokens providing voting power over top DeFi protocols, the projects we’ll cover below have all followed a similar trajectory over the past 6 months (hint: up and to the right).
Using Total Value Locked as an indicator for token value, sites like Token Terminal have shown that DeFi tokens have one thing that 2017 projects never had - annualized earnings.
Below are 5 DeFi tokens worth keeping an eye on in the coming weeks.
Please note some of these tokens are new or have low caps and are riskier than large cap coins.
Trade them at your own risk.
We do not suggest placing more than 2% of your portfolio into any of these low cap coins.
Curve (CRV)
Nexus Mutual (NXM)
Auctus (AUC)
Keep Network (KEEP)
Mainframe (MFT)
Outside of the tokens mentioned above, key leaders like LEND, SNX, BAL, COMP and KNC are all likely to see continued interest as DeFi continues to drive the ongoing bull market.
Specifically in the case of LEND, the upcoming migration to AAVE with the advent of Aavenomics is sure to give the project a revitalized interest through the advent of staking and ecosystem incentives for lending and borrowing.
Even in the case of KyberDAO, the notion of being able to stake KNC to earn ETH rewards is one which shows the project has a long ways to go so long as the DEX ecosystem continues to heat up (hint: it will).
Until then, we’ll be keeping a close eye on the fringe for new DeFi opportunities, many of which have yet to release their formalized plans for tokenization.