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Top Ten DeFi Cryptocurrencies 2021 list

DeFi Cryptocurrencies 2021

DeFi is an abbreviated form of Decentralized finance. Decentralized finance is a blockchain-based form of finance that does not include any centralized power. That is, it functions without any intermediaries such as brokerage, exchanges, banks, and other centralized institutions.  

Here top ten DeFi cryptocurrencies, as per the market cap (as of August 19, 2021) 

  1. UNISWAP (UNI)

It is the leading DeFi project, launched in September 2018. It allows automated trading platforms using an Automated Market Maker (AMM) system to ensure there is sufficient liquidity of Erc20 tokens. UNI has a market cap of $16,478 million. 

2. TERRA (LUNA) 

LUNA was launched in 2019, and it uses fiat-pegged stablecoins to operate a price-stable global payments system. TERRA’s native token of LUNA helps in stabilizing the price protocol. LUNA’s market cap is $12,252 million. 

3. CHAINLINK (LINK) 

It is a decentralized oracle network that is available in the Defi market. It facilitates real-world data into smart contracts, resulting in transferring unlimited amounts of information. LINK’s market cap is $12,102 million. 

4. WRAPPED BITCOIN (WBTC) 

It is an ERC20 token, which represents bitcoin on ethereum blockchain. The market cap of WBTC is $9,168 million. 

5. AVALANCHE (AVAX) 

AVAX aims to be a global trading exchange. Which will allow anyone to transfer and trade in any form of asset, using cutting-edge technologies. AVAX’s market cap is $6,302 million.   

6. DAI (DAI) 

An ethereum based blockchain, whose price is soft pegged to the U.S. dollar. Therefore, it is a stable coin. DAI’s market cap is $6,032 million. 

7. AAVE (AAVE) 

AAVE allows its users to borrow and lend cryptos. The lenders earn by depositing digital assets into a liquidity pool. The market cap of AAVE as of 19th August is $5,334 million. 

8. THE GRAPH (GRT) 

It was launched in December 2020 and is an indexing protocol. GRT’s market cap is $5,003 million. 

9. PANCAKESWAP (CAKE)

CAKE also works on an automated market maker mechanism, moreover, it ensures liquidity via farming. CAKE’s market cap is $4,697 million. 

10. MAKER (MKR) 

MKR is a governance token for MakerDAO and Maker Protocol. MKR’s market cap is $3,689 million. 

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Ankita Awasthi

Ankita Awasthi is stock market expert and have experience more than 7 years. Also she is a MBA in Finance and worked in investment banking, Bitcoin and cryptocurrency.

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