As the crypto space continues to evolve this year, the decentralized finance (DeFi) sector keeps buzzing with the sound of new investors and interested parties, and a lot of DeFi projects and their tokens have set new record all-time highs in price levels and engagement. This included projects like Reef Finance (REEF), Uniswap (UNI), SushiSwap (SUSHI), and PancakeSwap (CAKE),
However, in the mix of it all, there are still quite a lot of DeFi projects with groundbreaking plans that have been believed to not be appreciated enough by the crypto community, therefore earning them the undervalued tag. An undervalued cryptocurrency is one whose price representation in the market is believed by proponents to be less than its actual potential. So here are a few DeFi tokens according to experts that are diamonds in the rough and are probably on their way to new highs in the coming months.
Initiated in June 2020 with the aim of identifying ways to protect investors and newcomers to the DeFi space, using Proof-of-Liquidity(POL) the UniCrypt provides services such as liquidity lockers and decentralized launchpad for projects. The governance token UNCX has seen a growth of over 800% since the beginning of the year to reach an all-time high of $633. The price has corrected and currently trades at the time of writing at $311.98.
An Ethereum based project, Auctus offers a decentralized non-custodial options protocol that allows users to trade, mint, and exercise call or put options, in a trustless and decentralized manner. Its native token AUC, with a market cap of over $7 million at the moment has recorded over a 122.6% growth since the beginning of the year. It is trading at the time of writing at $0.1859.
MAHA is a governance token of the MahaDAO platform. The platform also hosts the ARTH coin, an algorithmic currency that promises stability in the face of crypto volatility. MAHA token holders have the right to vote on savings rates, stability fees, direction, strategy, and future course of action for the ARTH coin. The governance token currently trades at approximately $8 at the time of writing. Although the price change has largely been on the negative side, it is still believed that the token has the potential for growth.
Loopring is a zkRollups exchange and payment protocol that enables developers to build non-custodial, order book-based exchanges with the use of Zero-Knowledge Proofs on the Ethereum blockchain. The platform promises “low fees and high-speed experiences for trading, swapping, liquidity providing, and payments – without sacrificing Ethereum security at all.” Its native token LRC has seen over 180% increase in the past three months and it is trading at the time of writing at $0.572.
UMA is a synthetic asset-building platform that allows users to execute the function through the use of self-enforcing smart contracts. Its native token, UMA has experienced a price increase of 167.1% since the beginning of the year and currently trades at $21.32 at the time of writing.
Built on the Oropocket platform, OpenDefi aims to bridge the gap between DeFi and physical assets. Users can invest in existing tokenized real-world assets with on-chain statistics. Its token ORO with a market cap of $4.3 million and a price value of $0.422 at the time of writing, is believed to be on track to making huge jumps in the nearest future.
Fire Protocol (FIRE)
Fire Protocol is a protocol that aims to deliver cross-chain solutions, a money market, and decentralized exchange services to its users. Its native token FIRE has experienced an increase of 214.9% in the last month rising from $0.716 to $1.57. The token currently trades at $1.05.
DeFiPie is a platform that combines Lending-as-a-Service (LaaS), Liquidity Pool-as-a-Service (LPaaS), and Staking-as-a-Service (SaaS) in one place for users to enjoy multi-faceted features. Its native token PIE has noticed exponential growth since the beginning of the year with an increase of 610.1% and a one-month increase of 313.7%. The token currently trades at $0.158 at the time of writing.
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Information contained in this article does not by any means represent investment advice or endorsement. Please conduct due diligence on all tokens and coins before making an investment.