Decentralized Finance (DeFi) has come under intense pressure in 2022 as the volume of transactions drop. The industry’s total value locked (TVL) has crashed from over $250 billion to about $71 billion. Similarly, most DeFi tokens have plunged hard in the past few months. Still, there are some opportunities in the industry. Here are the best DeFi coins to buy in November.
Uniswap (UNI)
Uniswap is the biggest decentralized exchange (DEX) in the world. It is an exchange that handles over $400 million of cryptocurrencies on a daily basis. In its peak, Uniswap used to handle over $2 billion every day. It competes with the likes of PancakeSwap, SushiSwap, and dYdX among others.
Uniswap price has dropped by 60% in 2022 as cryptocurrency prices retreat. It has also been affected by the falling TVL and daily average volume. Still, there are signs that the Uniswap price will continue recovering in the coming weeks. For one, Uniswap has emerged unscathed from the recent cryptocurrency sell-off.
In addition, Uniswap’s developers recently raised $165 million from venture capital firms to fund its growth. Some of these funds will be deployed to boost its overall ecosystem and build new features like NFTs.
Therefore, Uniswap price will likely continue rebounding as bulls target the important resistance level at $9.5.
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…
