Summer’s here and the time is right for investing in DeFi-focused cryptocurrencies. DeFi is about to explode. This is evidenced by the fact that there is more money sitting in stablecoins right now than in Ethereum. All of that dry powder is just waiting for the market to show a bottom pattern. Once we have that, you can expect some dramatic rises in activity on DeFi platforms.
Here are three cryptocurrencies that are focused on DeFi and/or passive income for you to check out while you enjoy some hammock time this summer.
Uniglo (GLO) — one token holds a diverse crypto portfolio
Uniglo is an investment token that designed especially for early adopters and long-term holders. This is one of those tokens that you hope to get your hands on during the ICO before it goes onto exchanges. Luckily for you, GLO is still in ICO.
The idea of GLO is to create a DAO in order to build up a treasury of assets that’s constantly growing in value while the token is decreasing in circulating supply so that the earlier you get in and the longer you hold the token, the more your gains compound.
The treasury is funded by a 5% buy and sell tax. That means each time someone enters or exits the community, they add 5% to the treasury. That way it’s always growing bigger. Those funds are used to invest in a variety of digital assets including cryptocurrencies, NFTs, and token backed assets such as gold, collectibles, art, and rarities. As a DAO, all investments are voted on by GLO holders as a community.
Also, a 1% buy and sell fee is used to buy GLO tokens off exchanges thus reducing the supply and increasing the price. Again, this is ongoing forever. And we’re not done yet. When an investment in the treasury is sold, any profits are used to buy back and burn more GLO tokens.
Visit the Uniglo.io website to learn more about this crypto-investment-made-simple platform. While you’re there you can grab a bag of GLO.
Curve (CRV) — a stablecoin haven
Curve is a decentralized crypto exchange that’s built specifically for non-volitile stablecoins. Curve offers DeFi investors passive income opportunities such as yield farming and liquidity mining in a relatively low-risk investment environment.
While risk is low, CRV’s volatility is high. CRV gained more than 600% in the second half of 2022 then fell back to its prior price of about $1. The next major resistance level for CRV is around $3. If the market heats up, it could get there before the end of the year. That’s a 300% gain from today’s price.
Waves (WAVES) — a high performance layer-1 blockchain
Waves is a multi-purpose, high-utility blockchain that acts as a foundation for platforms such as DEXs, DApps, and DAOS. The Waves network is much faster and cheaper to use than Ethereum (ETH) making it attractive to Web3 developers. Waves already hosts several popular platforms including cross-chain and oracle network Gravity, and decentralized finance (DeFi) platform Neutrino.
WAVES is presently running around $6. The coin is expected to hit $10 to $40 by January. That’s a 40% to 650% gain. However, beware the volitillity. As Michael Saylor says, “volitily is the price you pay for performance.”
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