DeFi is a hot topic in the blockchain world. The development of decentralized finance is altering the state of financial systems, allowing users to use assets in ways that have never been seen before. As a branch of FinTech, DeFi’s primary aim is to make traditional financial services open to everyone. DeFi uses blockchain to achieve this by creating an ecosystem of permissionless financial services built on blockchain infrastructure.
Since all DeFi projects are developed on Ethereum, this blockchain has become the de facto standard for many dApps. Average statistics from November 2022 reveal that Ethereum outperforms other blockchains in several aspects: the number of applications, application activity, user activity, and volume traded/locked (with limitations). The high volume of transactions on EOS is a yearly phenomenon that is sometimes attributed to the absence of transaction fees, which is potentially raising prices. In any case, achieving zero transaction costs is a desirable objective to enable DeFi development on the blockchain.
There’s a lot of buzz around the market, making DeFi coins an increasingly attractive investment prospect. The DeFi market is expected to witness a compound annual growth rate (CAGR) of 39.5% from 2022 to reach $70.3 billion by 2027.
The top 25 DeFi coins
There’s now a huge variety of coins available on the market. BCC Research has revealed the top twenty-five coins by market capitalization as of November 2022.
| Rank | Coin | Price | Market Capitalization |
1 |
Lido Staked Ether STETH |
$1,240.51 |
$5,872,241,028 |
2 |
Dai DAI |
$1.00 |
$5,432,920,780 |
3 |
Uniswap UNI |
$6.26 |
$4,724,280,249 |
4 |
Chainlink LINK |
$6.50 |
$3,196,262,716 |
5 |
Terra Luna Classic LUNC |
$0.000183180672 |
$1,265,319,063 |
6 |
Frax FRAX |
$0.999995 |
$1,175,336,571 |
7 |
Lido DAO LDO |
$1.22 |
$919,875,796 |
8 |
Aave AAVE |
$60.92 |
$864,186,269 |
9 |
cUSDC CUSDC |
$0.022720411035 |
$743,368,812 |
10 |
Maker MKR |
$704.40 |
$635,323,693 |
11 |
PancakeSwap CAKE |
$3.96 |
$578,520,387 |
12 |
Osmosis OSMO |
$1.17 |
$563,237,762 |
13 |
The Graph GRT |
$0.064428656214 |
$476,856,976 |
14 |
cDAI CDAI |
$0.022158444888 |
$438,224,855 |
15 |
Synthetix Network SNX |
$1.79 |
$429,227,686 |
16 |
cETH CETH |
$25.29 |
$416,813,302 |
17 |
Curve DAO CRV |
$0.610854 |
$387,089,278 |
18 |
THORChain RUNE |
$1.23 |
$370,418,414 |
19 |
GMX GMX |
$42.15 |
$346,822,828 |
20 |
1inch 1INCH |
$0.538713 |
$335,223,558 |
21 |
Loopring LRC |
$0.261411 |
$325,700,886 |
22 |
Rocket Pool RPL |
$16.96 |
$320,633,367 |
23 |
Frax Share FXS |
$4.73 |
$320,483,456 |
24 |
dYdX DYDX |
$2.33 |
$315,813,190 |
25 |
Kava KAVA |
$0.930557 |
$300,635,926 |
Access unrivalled market research into DeFi
BCC Research’s recent report provides an unparalleled deep dive into the market for decentralized finance. With five-year forecasts across regions, segments and applications, the report acts as the ideal guide for those hoping to make waves in the sector.
Download your complimentary report overview or purchase the report in full here.