Autor: dot-traders

Altcoins have had a difficult time during the ongoing crypto winter. In total, Bitcoin and all altcoins have shed over $2 trillion worth of value in the past few months. While this trend will likely continue, there is a likelihood that most altcoins will rebound together with stocks. Here are some of the top altcoins to never buy.

EOS (EOS)

EOS is a blockchain project that came out of Block.one Initial Coin Offering (ICO) that raised over $4 billion. Today, it it is overseen by EOS Foundation, which is partially independent from Block. It is one of the biggest altcoins that has a total market cap of almost $1 billion. 

EOS has built an operating system known as EOSIO, which is a smart contract platform that seeks to compete with the likes of Ethereum and Solana. It claims to be fast and efficient, highly configurable, and highly secure.

While EOS has been funded well, the reality is that it has not succeeded in the industry. For one, there has been no major or well-known application that has been built using the technology. 

Also, the total volume of those available apps has been in a strong downward trend in the past few months. Most importantly, its association with Block, a company that was fined by the SEC makes it a bad altcoin to buy.

Read our complete KuCoin review.

IOTA (MIOTA)

IOTA is another altcoins to never buy. For starters, IOTA is not a blockchain project. Its developers describe it as a tangle network that connects IOT with secure data and value exchange. It also protects the integrity and verifiability of data. Over the years, the developers have partnered with leading organizations that are implementing its technology.

IOTA also launched a new smart contract platform known as Shimmer. However, its reception has been relatively weak in the past few months. Some of the top projects in the ecosystem are Accumulator, ApeDAO, Camels DAO, and Deposy. However, these products are all relatively small and signal that the coin is struggling.

Axie Infinity (AXS)

Axie Infinity is a leading blockchain project in the gaming industry. The platform enables people to play games and win tokens that they can exchange for cash. Gamers win a cryptocurrency known as the Smooth Love Potion (SLP) that has seen its price crash in the past few months. They can also win the AXS token in several leagues.

Axie Infinity has seen the number of active users drop sharply in the past few months. They have dropped from over 6 million to less than 500k. It also seems like its developers are giving up on the project. Therefore, you should avoid AXS token at all costs.

The post Top 3 altcoins to never buy even when crypto prices rebound appeared first on CoinJournal.

Decentralized Finance (DeFi) has come under fire in the past few months following the collapse of Terra and its ecosystem. The total value locked (TVL) in its ecosystem has crashed from over $250 billion to about $72 billion. Recently, however, blue-chip DeFi tokens have gone on a strong rally as investors buy the dip. Here are the best DeFi tokens to buy.

Aave (AAVE)

Aave is a leading DeFi platform that enables people to invest and borrow money through several steps. It is a popular platform that is available in several chains, including Ethereum, Polygon, Arbitrum, Harmony, and Avalanche. 

Aave has also grown to incorporate other features in its ecosystem. For example, the developers have created a smart contract platform that enable people to build applications on top of it. They are even working towards a stablecoin. Aave has a total value locked (TVL) of over $5.58 billion. 

Aave price has more than doubled from its lowest point in June and is trading at the highest point in more than a month. It is a good investment because of its strong market share and the fact that it has a long track record in the industry.

Learn more about how to invest in crypto.

Uniswap (UNI)

Uniswap is another popular blue-chip DeFi token to invest in for the long term. It is a pioneering Automated Market Maker (AMM) platform that enables people to swap, earn, and build decentralized apps. Uniswap is found in Ethereum, Polygon, Optimism, and Arbitrum. In the past few years, it has handled transactions worth over $1.1 trillion.

Uniswap has been in a strong growth path, which has seen the network launch a platform for building its ecosystem. Some of the most popular apps in its ecosystem are Universe Finance, Brink Trade, Burner Wallet, and Rainbow Wallet.

Uniswap has seen its total value locked (TVL) of over $5 billion, which is lower than its all-time high. The UNI token price has risen by more than 80% in the past few days and there is a likelihood it will continue rising.

Maker (MKR)

Maker is the biggest DeFi platform in the world with a total value locked (TVL) of over $7.7 billion. It is a well-known protocol that helps people access capital. It uses its own stablecoin which is known as Dai, which is an algorithmic coin. Maker is also the second-biggest oracle network in the world after Chainlink. 

The MKR price has jumped by 40% in the past few days and there is a likelihood that it will keep rising in the coming months.

The post Best three blue-chip DeFi crypto tokens to buy and hold appeared first on CoinJournal.