The cryptocurrency industry is having its Lehman moment as one of its biggest players collapses. On Tuesday, FTX, the third-biggest& crypto exchanges in the world, announced that it will be acquired by Binance. As a result, Sam Bankman Fried has seen his net worth crash from over $16 billion to almost nothing.&
Analysts now believe that decentralized exchanges (DEX) will do well in the coming years. Besides, DEXes have done well during this crypto winter even as CEX companies like Voyager Digital, Celsius, and Vauld have collapsed. So, here are the best DEX tokens to buy as CEX tokens plunge.
Uniswap (UNI)
Uniswap is one of the oldest and is the biggest decentralized exchanges in the world. It exists in Ethereum, Polygon, Arbitrum, Optimism, and Celo. In a given day, Uniswap handles cryptocurrencies worth over $500 million.&
Uniswap has a total value locked (TVL) of more than $3.8 billion, making it the 7th biggest DeFi protocol in the world. UNI, its token, has a market cap of more than $4.3 billion. It is a good investment because of its strong market share in the DEX industry.&
Further, Uniswap is expanding its market share in the industry. Its ecosystem is also growing, with some of the top applications being InstaDapp, PoolTogether, TokenPocket, and Parsec Finance among clothes.
How to buy Uniswap
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
Curve Finance (CRV)
Curve Finance is one of the biggest DeFi platforms in the industry. It exists in Ethereum, Polygon, Arbitru, and Optimism among others. According to DeFi Llama, Curve has a total value locked (TVL) of more than $5 billion. According to its website, Curve has over $4 billion in total deposits in its Ethereum chain. It handles over $1 billion in daily transactions per day.
Curve Finance also owns StableSwap, which is an automated liquidity provider for stablecoins. It offers a Uniswap-like automated exchange with extremely low slippage. Curve Finance will likely continue doing well in the future.
How to buy Curve DAO
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Bitstamp
Bitstamp is a leading cryptocurrency exchange which offers trading in fiat currencies or popular cryptocurrencies. Bitstamp is a fully regulated company which offers users an intuitive interface, a high degree of security for your digital assets, excellent customer support and multiple withdrawal methods.
dYdX (DYDX)
dYdX is an Ethereum DEX that is one of the biggest players in the industry. It handles billions of dollars worth of cryptocurrencies in a month. The platform makes it possible for people to buy and sell cryptocurrencies. It also has a feature that enables people to trade perpetual contracts with no fees for a certain amount.
dYdX is a good investment because of its resiliency during the crypto sell-off. Also, the upcoming upgrade from Ethereum to Cosmos will likely be a good catalyst.
How to buy dYdX
eToro
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies. Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods. Users can benefit from a beginner-friendly interface and relatively low fees.
The post Best DEX tokens to buy as CEX coins plunge appeared first on CoinJournal.
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