INTRODUCTION:
In spite of the 2022 crypto winter and the attacks on the DeFi Ecosystem, certain events are bringing positive results for DeFi investors. According to TI Partners in the article below, DeFi is back in the limelight, and there are some players to keep an eye on.
__________________________________
Decentralized finance is on a meteoric rise, as the market reaches a 38.26% increase as 2023 gets underway. The appeal of this type of finance is that it requires no third party to hold and ensure the capital, and the worth of the currency is based entirely on evidenced transactions recorded in a blockchain. A blockchain could be viewed sort of like a comprehensive diary of every digital transaction made on the server, to justify the value of the currency. The advantages of DeFi lie in its peer-to-peer structure, and its transparency to the consumer public.
In 2022 the DeFi market saw a lack of interest from investors, due to market crashes, bringing about the now notorious “crypto winter”. When the market is this volatile, DeFi coins are at risk of losing their footing. However, with exciting transitions such as Ethereum (ETH) merging, and embracing their proof-of-stake mechanism — using an incredible 99% less electricity than older methods — the DeFi markets are back in the high life again. With all that said, what are the coins to keep your eye on? Let’s find out.
THORChain (RUNE):
THORChain is up 2.52% with its conversion rate standing currently at 1 RUNE = 1.35 USD. One of the leaders in the DeFi market, THORChain precedes its reputation by boasting these impressive figures. A completely centralised way of investing, THORChain are looking to expand their services this year. According to their blog, the company is currently developing their “THORFi” project, which will afford loaning and saving opportunities for its users, as the culture of crypto mining grows steadily in popularity.
Compound (COM):
One of the biggest risks with DeFi is its vulnerability to hacking. As the space-age technology of cryptocurrencies grows with each passing year, so do the sophisticated methods of digital theft and invasion. Compound is a cryptocurrency that really emphasizes the importance of cybersecurity. Their round-the-clock development team and Discord community are hypervigilant about anything that may compromise the integrity of the market. Providing stability and clarity in what can often be a volatile and confusing marketplace is something that the crypto world benefits from massively, and companies like Compound are a heralded card in the deck.
Big Eyes Coin (BIG):
Big Eyes Coin is a much-hyped meme coin that is raising eyebrows in high places. The big names in crypto are starting to take notice as whales and market brokers begin to embrace this exciting, new altcoin. As well as having a friendly and meme-oriented approach to its branding, Big Eyes is also environmentally conscious, aiming to donate 5% of its community wallets to marine conservation charities after they launch. Currently, in its presale stage, the coin is aiming to raise $20 million in investments. They’ve already achieved well over half of that target.
Running on the Ethereum blockchain, Big Eyes also offers security and brand recognition. “Cuteness is the new currency,” is their slogan, and this is validated by the array of cartoon NFTs that are available. Meme coins have a reputation for eschewing the sometimes rigid and formal environments of finance brokering. You’ve never seen money like this, and that’s exactly how companies like Big Eyes want it to be. The face of financial technology is ever-changing, and it’s the minds at Big Eyes who understand what direction things need to start heading. Welcoming, easy-to-use, and forward-thinking, Big Eyes is set to take the DeFi market by storm, as stocks sway favorably on an upswing cradle.
