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Is DeFi a New Gold? Crypto Investors Go Crazy over These Digital Coins

25 July 2020, 10:48
Votes: 1

Judging from the news, cryptocurrency is still popular among investors. However, not all digital cash gains their attention. For example, Bitcoin and Ethereum are climbing down, while DeFi experiences growth.

Is DeFi a New Gold? Crypto Investors Go Crazy over These Digital Coins

DeFi stands for “decentralized finances”. In other words, it is the cryptocurrency ecosystem that consists of tokens. It is based on Ethereum protocols and includes some of its elements and features. Now, these altcoins head the list of the most much-in-demand crypto assets.

The dramatic growth of KNC, REN, and LEND

The last weeks were a successful period for DeFi coins – KNC, REN, and LEND – because crypto investors were buying them at a rapid-fire pace. For example, according to the recent data, the number of REN requests during this month has increased by thirty-six percent in comparison to June. Moreover, it is a 332% growth rate if compared to April.

It is worth mentioning that this boom is happening amid a backdrop of the drawdown of the entire crypto market. However, these tokens have grown by almost ninety-eight percent and become the most popular assets. At the same time, the main question is whether this decentralized ecosystem is something serious or just another hyped topic. Of course, investors also want to know how long this increase will last.

Read more: Essential information about Ethereum

Read more: The latest 2020 Bitcoin price prediction

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