Understanding the best DeFi crypto on the market begins with understanding what DeFi actually means. DeFi, or decentralized finance, is a system that operates without centralized authority and uses blockchain to manage transactions.

Put simply, it refers to DeFi projects to watch that aim to provide traditional financial services – such as loans, savings accounts, and asset exchanges- without requiring a third-party intermediary.

The crypto team over at Business2Community has done their due diligence and compiled a list of the best DeFi coins of 2024, as well as how and where to buy them.

Best DeFi Coins to Invest in Today

Although the decentralized finance marketplace is now home to hundreds of projects – we found that the overall best DeFi crypto coins are those listed below:

  1. PlayDoge — Nurture virtual doges and earn crypto through engaging mini-games
  2. WienerAI — A new upgradeable AI meme coin
  3. Sealana — Join the bullish summer crypto crazy early with $SEAL
  4. Base Dawgz — The go-to choice coin for gaming crypto investors
  5. Mega Dice — Revolutionizing online casino gaming with over 4500 games and real-time support
  6. 99Bitcoins — Learn-to-earn platforms with a $99,999 airdrop
  7. Sponge V2 — Offers P2E gaming opportunities and high staking yields of up to 388%
  8. eTukTuk — Top DeFi crypto offering long-term rewards and an exciting P2E game
  9. Uniswap — Decentralized Exchange With Leading DEX Coin
  10. Decentraland — Invest in the MetaVerse via the MANA Token
  11. Yearn.finance — DeFi Services via Decentralized Lending Agreements

A Closer Look at the Best DeFi Crypto Coins

In order to pick the top DeFi coins for your investment portfolio — you’ll need to consider the metrics surrounding:

  • Current market capitalization
  • Growth potential
  • Past performance
  • Objectives and road map targets
  • DeFi token price
  • Exchanges that list the token

When weighing up your options, you can also consider the most undervalued crypto assets, as these often possess the most potential for exponential growth.

Taking these core factors into account, you will find our in-depth analysis of the best DeFi projects below. 

1. PlayDoge

best defi coins - playdoge

PlayDoge is a mobile game that pays homage to Doge memes and the popular game from the 90s – Tamagotchi. However, this game aims to improve the relationship between players and their virtual pets by utilizing the P2E model. This means that players will be able to earn $PLAY tokens by taking care of their Doge virtual pets. Likewise, they’ll get to play mini-games to earn extra tokens. In addition to that, they’ll be able to stake their tokens for annual rewards whose present APY is 537%.

This makes $PLAY one of the best DeFi coins to invest in this year. Namely, this coin has a massive growth potential. First of all, it operates on the Binance Smart Chain, which means that it could get listed on Binance after finishing its presale. Secondly, it could profit from the hype that is currently being created around dog-based memes. And finally, this project raised over $568K in less than three days.

The $PLAY token has a maximum supply of 9.4 billion, of which 4.7 billion will be reserved for the presale. Its current price stands at $0.005.

2. WienerAI

best defi coins - wienerai

WienerAI ($WAI) is a revolutionary AI token that blends artificial intelligence and crypto trading into a global movement. More than a token, it’s the most user-friendly crypto trading bot ever made. WienerAI gives traders an edge with predictive technology, a simple interface, and diverse functionality.

WienerAI’s technology offers AI-enhanced trading and easy swaps across exchanges. There are zero fees included. Built on blockchain, WienerAI’s $WAI token fuels its ecosystem, and it’s designed for upgradability and technological advancement.

The price of one token is $0.000706 at this stage. The project is pumping, having already raised over $1.7 million in presale.

3. Sealana

best defi coins - sealana

Sealana stands out as an exciting new project on the Solana blockchain, offering a fresh opportunity for investors — especially during market downturns. What makes Sealana pretty unique in the market is its presale approach: a fixed price setup ensures early investors can get 6,900 $SEAL tokens for just 1 SOL. This strategy has proven successful for projects like Slothana, which raised $15 million during its presale.

Adding to the intrigue, the total supply of $SEAL tokens remains undisclosed — likely a strategy to induce some FOMO among potential investors. Sealana is a promising option for those seeking opportunities in bearish markets, with the potential for gains when the market turns bullish. To investigate further, interested investors can check Sealana’s Twitter account and Telegram channel.

And remember — if sending tokens directly to the presale wallet, make sure you’re using a DEX wallet to qualify for the airdrop.

4. Base Dawgz

best defi crypto coins - base dawgz

Base Dawgz ($DAWGZ) is the latest meme coin on the Base network and one of the best DeFi projects to invest in. Considering the track record of dog-themed coins, this one also has the potential for significant success. It features Shiba Inu and Wojark, among other memes. 

The project has a clear vision: to redefine what’s possible with cutting-edge blockchain technology. It aims to establish a decentralized platform that will allow users to conduct transactions, explore, and interact across many blockchains. In fact, the token’s available on BNB Chain, Solana, Polygon, Avalanche, and Ethereum.

The presale offers early supporters the opportunity to get a solid ground rush and participate. Notably, 20% of the total supply of tokens is allocated to the presale. 

With Base Dawgz’s Be Social for Airdrop campaign, users can gain tokens if they create and share content about this project.

5. Mega Dice

best defi crypto - mega dice

$DICE tokenomics are designed to make gaming on Mega Dice exciting and sustainable. With 420 million $DICE tokens on the Solana blockchain, there are plenty to invest in. During the presale, 35% of tokens are up for grabs, with allocations for liquidity, staking, airdrops, affiliates, casino, and marketing.

$DICE tokens are the key to gaming fun on the platform. You can use them on MegaDice.com and the Mega Dice Casino bot on Telegram. Some games and features need $DICE for access, making them even more valuable. Plus, you can earn rewards and bonuses by staking your tokens!

These tokens are tradable, so you can swap them for other cryptocurrencies or cash out.

To keep things stable and growing, Mega Dice plans strategic buybacks and token burns, keeping the token supply capped. They also prioritize security with regular audits and comply with cryptocurrency regulations.

6. 99Bitcoins

best defi coins - 99bitcoins

At 99Bitcoins, understanding Bitcoin is made easy for everyone, not just tech wizards. Originally named BitcoinWithPaypal.com, it rebranded due to a legal tiff with PayPal. Now, it’s a go-to hub for crypto education, covering not just Bitcoin but also Litecoin, Peercoin, and more.

99Bitcoins is also rolling out a learn-to-earn platform with the $99BTC token. With a blend of courses and rewards, it caters to beginners and seasoned pros alike. By completing interactive modules and quizzes, users earn $99BTC tokens, getting access to more learning and earning opportunities.

Hold $99BTC tokens for perks like staking rewards and exclusive webinars. As you learn, you’ll earn tokens for even more rewards.

And guess what? You can even stake your tokens if you’re too busy to learn!

7. Sponge V2

best defi coins - sponge v2

Sponge V1 launched in the tough times of May 2023’s bear market. With over 13,000 holders and hitting an all-time high market cap near $100 million, it created huge gains for early investors.

This year, it upgraded to Sponge V2 with all but typical presale. To get your hands on Sponge V2, you’ve got two options: either buy and stake Sponge V1 through Sponge.vip or stake your existing Sponge V1 tokens through the same site. The more V1 tokens you stake and the longer you stake them, the more V2 tokens you’ll earn. Once the remaining Sponge V1 supply is sold, Sponge V2 claiming begins.

When you stake V1 tokens for V2, you reserve an equivalent amount of V2 tokens and earn more V2 tokens over time. But remember, once staked, V1 tokens are locked permanently.

Sponge V2 is bringing in more utility with a P2E game, allowing users to earn tokens by playing and ranking on leaderboards.

8. eTukTuk

best defi coins- etuktuk

eTukTuk is an eco-friendly crypto project that aims to improve the transportation system in developing countries through blockchain and AI. 

Traders will be able to use its native token, $TUK, to earn staking rewards and play its P2E game. The former option will be beneficial for long-term investors, as eTuk Tuk’s staking rewards come with a large APY that currently amounts to 82%. 

On the other hand, the former option will be suitable for crypto gamers. On that note, eTuk Tuk’s P2E game will be available on both Android and iOS devices. In this game, players will be able to drive eTuk Tuks in various cities, collect passengers, and earn rewards for their efforts. All rewards will come in the form of $TUK tokens.

Players will be able to use $TUK tokens to upgrade their vehicles, unlock new locations, and access exclusive content and events.

The $TUK token has a capped maximum supply of 2 billion, of which 120 million will be available for purchase during its presale. eTukTuk has so far managed to raise more than $3.4 million, while its current price is $0.033 per token.

9. Uniswap

best defi crypto - uniswap

Next up on our DeFi crypto list is Uniswap. This project represents the true definition of decentralized finance. It is home to an innovative exchange and one of the top DeFi platforms that allow traders to swap tokens on a peer-to-peer basis. In other words, no centralized party is required to buy and sell crypto assets via Uniswap.

This starkly contrasts the industry norm, which is dominated by large centralized crypto exchanges such as Binance, FTX, and Coinbase. All of these sit between buyers and sellers, who make huge commissions along the way. In the case of Uniswap, the exchange doesn’t utilize traditional order books to match market participants.

Instead, the platform is home to an automated market maker, or AMM, model. In its most simple form, Uniswap’s AMM will set token prices based on a wide variety of variables – such as volume, demand, and market capitalization. This allows for a smooth and burden-free way of trading cryptocurrencies in a decentralized manner.

In terms of its native DeFi coin — UNI, the project is a top 30 digital asset by market capitalization. When the token was first launched on public exchanges in 2020, you would have paid in the region of $7. Year-to-date, in 2022, UNI has hit highs of over $17. This represents a growth of over 140%. With that said, investors will be looking for a return to the $40+ region that UNI hit in 2021.

10. Decentraland

best defi crypto - decentraland

The MetaVerse is expected to become extremely popular in the coming years, with the likes of Facebook even rebranding its NASDAQ-listed company name to Meta Platforms. As such, if you’re looking to invest in this growing concept early, you can do so by getting one of the best DeFi tokens to buy right now— MANA tokens — which are Decentraland’s native digital assets.

In its most basic form, Decentraland is a project built on top of the Ethereum blockchain that offers a virtual gaming world that can be accessed by all. One of the most innovative things about Decentraland is that users can buy virtual land and subsequently build digital real estate.

This real estate – alongside a full suite of other in-game items, can then be sold on the open marketplace. This business model has already achieved a proof-of-concept for several reasons. First and foremost, some real estate plots sold via the Decentralized platform have raised in excess of a million dollars.

Second, the MANA token – which is the native currency used for all purchases and sales made via the Decentraland platform, is now a multi-billion dollar project. In terms of performance, MANA was worth a mere $0.025 back in 2018. In mid-2021, the crypto asset hit highs of almost $6. As such, this represents a significant growth of nearly 24,000%.  At the time of writing, this coin is worth $0.4195, which is a significant drop from that of 2021 but still better than its starting price. 

11. Yearn.finance

best defi crypto - yearn

The next on our list of best DeFi crypto projects is Yearn.finance. This project specializes in decentralized financial services, which, as of this writing, focuses on peer-to-peer loans. By this, we mean that Yearn.finance forms a bridge between borrowers and lenders without requiring a centralized middleman.

This is made possible through smart contract technology – whereby everyday consumers can use Yearn.finance to borrow capital without needing to go through a credit check process. These loans are funded by investors who wish to earn a yield from their idle cryptocurrency holdings.

And in doing so, investors will earn an attractive rate of return. Yearn.finance also allows investors to provide liquidity for trading pairs, which, again, provides an APY that far outweighs anything offered by traditional banks and financial institutions. In terms of investing in the Yearn.finance project – you can do so by purchasing its DeFi coin – YFI.

CoinMarketCap notes that YFI was first launched on public exchanges back in July 2020 at an initial price of $907. Since then, the YFI token has hit highs of over $93,000. This translates into gains of over 10,000%. Another major benefit of this DeFi coin is that at just over 36,000 tokens – the total supply of this digital asset is extremely limited. Today, the YFI coin is worth $6,004.38.

What Are DeFi Coins?

The basic definition of DeFi coins is digital currencies that serve a specific function for a project that offers decentralized financial services.

In order for these platforms to function without a centralized intermediary, transaction fees are paid for in the respective DeFi coin.

list of best defi crypto

As of November 2023, CoinMarketCap notes that there are now over 600 DeFi coins active in this marketplace, including 1inch tokens. On the one hand, this can make it a challenge to know which DeFi coin to buy. With that said, if you’re looking to gain exposure to the broader decentralized finance industry – you could consider diversifying across dozens of different projects.

Another one of the new top DeFi tokens worth mentioning is SafeMoon. Its market cap has already reached $28M, and the coin is expected to be worth $0.0000000176 by the end of 2024.

Are DeFi Coins a Good Investment?

DeFi coins could be a good investment for your portfolio if you’re looking to inject capital into a niche marketplace growing exponentially.

However, DeFi coins – like all crypto assets, are extremely volatile and oftentimes highly speculative. As such, we would suggest doing some research prior to investing in the best DeFi projects for your portfolio.

To start, you might consider some of the key points outlined below:

Growth of the DeFi Coin Investment Scene

Before we get to core fundamental research data, we should explore how quickly the broader DeFi coin investment scene has grown.

  • Many assets on the DeFi coin list we have discussed today were launched as recently as 2020 – which shows just how new this marketplace is.
  • However, as of writing, the total valuation of all the 600+ DeFi coins active in this space is now $54 billion.
  • At first glance, this might sound like a significant amount of capital.
  • However, considering that the entire cryptocurrency arena has a market capitalization of nearly $1.4 trillion, DeFi coins still represent a relatively small segment of the broader sector.

Taking this into account, it could be argued that the DeFi coin scene is still massively undervalued.

Some of the Best-Performing Crypto Assets Are DeFi Coins

If you’re looking to invest in the best DeFi crypto on the market because you are looking to target above-average gains – you will be pleased to know that this niche segment of the cryptocurrency scene has generated some phenomenal returns in recent years.

For example:

  • Let’s suppose that you had invested $5,000 into Yearn.finance when the digital asset was first launched in July 2020.
  • In doing so, you would have paid approximately $907 per token.
  • Had you held onto your Yearn.finance investment until mid-2021 – you would have been able to cash out at over $93,000 per token.
  • And, in doing so, your original investment of $5,000 would have been worth over $500,000.

In another example:

  • Let’s say that you were aware of the MetaVerse phenomenon back in 2018, and so you decided to invest $5,000 into Decentraland
  • In doing so, you would have paid just $0.025 per token.
  • And, if you held on until mid-2021, when Decentraland hit nearly $6 per token – that’s an increase of almost 24,000%
  • Therefore, your original investment of $5,000 would have been worth over $1.2 million

Of course, not everyone on our list of DeFi coins has witnessed such significant price increases. As such, there is no guarantee that your chosen DeFi coins will perform in the way the likes of Yearn.finance or Decentraland.

This is why it’s so important to conduct your own research prior to investing and diversifying across several DeFi projects.

The Fundamentals of DeFi

Now that we have covered the technical performance of the DeFi coin industry, we can now take a look at the fundamentals. After all, if you are looking to invest in the broader DeFi industry, it’s a good idea to understand why this marketplace appears to be so attractive for early adopters.

So, in a nutshell, the main concept of DeFi is to remove traditional financial services from centralized operators, such as banks. That is to say, in the near future, we could see everyday consumers obtaining loans from Defi platforms, which are subsequently funded by investors.

This peer-to-peer model can be extended to a wide range of financial services, such as brokerage transactions, insurance, and more. And if decentralized finance does reach its full potential, then the best DeFi crypto discussed on this page will only benefit in the long run.

Plenty of Low-Cap Entry Points    

Another great benefit of investing in decentralized finance is that many of the best DeFi coins on the market have a low valuation.

This means that the upside potential on offer is going to be a lot more attractive when compared to projects that already have a large market capitalization.

DeFi Crypto Price

The market price of DeFi crypto coins functions the same way as any other digital asset. That is, market prices are determined by demand and supply.

For instance, when Decentraland went from a price of $0.025 to nearly $6 in the space of just four years, this is because buying pressure significantly outweighed sell orders.

Where to Buy DeFi Coins

Where to buy DeFi crypto coins will ultimately depend on your chosen token.

For example, if you are looking to invest in upcoming DeFi coins with a small market capitalization, you might be required to do so via a decentralized exchange.

However, if you’re interested in leading DeFi coins with a large valuation — such as Bitcoin Cash, Uniswap, AAVE, or SushiSwap – then you should have plenty of options at centralized platforms — which are more suited for newbies.

Conclusion

The best DeFi cryptos can often present great investment opportunities. However, as with all cryptocurrencies, both old and new DeFi projects pose risks. Therefore, careful research and a measured approach are essential for anyone looking to purchase these cryptos.

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