While everyone is waiting for the old season, the DeFi season has already started

In 2017 and 2018, people often spoke of the so-called old season. The term describes the process that after the Bitcon exchange rate rises, alternative cryptocurrencies such as Ethereum (ETH) or Tron (TRX) have a high and long-term price increase. While everyone was waiting for the next old season in the last two years after the big crash in 2018, the DeFi season has already started.

Aave (LEND), Compound (COMP) and Kyber Network (KNC) with high profits

Even if there are always outliers that do not correlate with other cryptocurrencies, a clear pattern has developed in the past weeks and months. Because a large part of the tokens in the area of ​​decentralized finance, investors could bring enormous profits in some cases and continue to increase their prices.

DeFi, so-called decentralized finance, are enjoying increasing popularity, which is ultimately also reflected in the courses of the DeFi projects. We have summarized a few examples for you that have made high profits for happy investors in the past weeks and months:

  • The $ LEND token the decentralized credit platform Aave was still listed at the beginning of the year $ 0,018 USD. Today, June 20, 2020, the course is available $ 0,13 USD. In the last few days alone, the LEND token has registered a price increase of almost 100%. This growth catapulted the cryptocurrency to 48th place. There is currently more than $ 100 million in the Aave protocol.
  • The Compound token $ COMP only provided for yesterday Schlagzeilen, after he within 24 hours by more than 200% could rise. Compound is also a decentralized credit platform, COMP serves as a governance token, which gives the users of the platform the right to have a say in decisions about the management of the protocol.
  • The token of the Kyber network also recorded enormous price gains despite the interim corona crash of the crypto market $ KNC. The price of the cryptocurrency rose from $ 0,20 at the beginning of the year to currently $ 1,26. That corresponds to one Exchange rate growth of 500%.
  • The unchallenged number 1 According to Defipulse, it is still the decentralized credit platform Maker with the $ MKR token. Almost $ 500 million is currently in the Maker protocol. For comparison: at the end of March this figure was still $ 300 million. This growth is also reflected in the price of the cryptocurrency. After the price has dropped below $ 200 due to the effects of the corona pandemic, 1 MKR token is quoted at $ 514 USD today.

Based on these numbers, crypto investors worldwide are currently on the hunt for the next token, which could show similar price gains. And the selection is significantly larger than the four projects mentioned above. According to Defipulse there are currently 27 different platforms. The top 5 for you at a glance:

Decentralized exchanges on the advance

Of course, many other cryptocurrencies could also show high profits after the corona crash. However, the current hype around decentralized finance gives many investors hope to achieve profits as high as it was in the big old season 2017.

And the situation is no different for stock exchanges, because here too the decentralized competitors can develop significantly better than centralized exchanges. The tokens of the decentralized exchanges like $ KNC, $ LRC or $ BNT develop up to five times better, than that of the centralized trading platforms.

However, despite the many advantages of decentralized platforms, caution is required. Just yesterday we reported that the decentralized exchange Bancor (BNT) had to hack itself to protect users' investments. More than $ 455,000 USD was at risk:

Vulnerability: Decentralized Exchange Bancor (BNT) hacks itself to save investments

 

Markus from Kryptokumpel.de
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