As crypto starts to see some recovery after major losses last week, keen investors will be scanning the market for the best dips to buy. Well, one area where such opportunities are is in DeFi. Most DeFi coins have sharply fallen. Here is why this is the best time to buy:
DeFi will almost certainly bounce back in the near term
Decentralized Finance is the future of blockchain technology
Current dips offer investors the perfect chance to buy heavily discounted DeFi projects.
As noted above, there are many superb dips in the DeFi space to take advantage of. Check out the top 3 listed below:
Uniswap (UNI) has seen its value decline by over 25% in the last 7 days. The DEX has also reported sharp losses from its 2022 highs. In fact, UNI is almost 3 times cheaper than it was a few weeks ago.
Data Source: Tradingview
If you have always wanted to get it but felt the price was too high, this is the perfect opportunity to pounce. After all, Uniswap is the largest DEX on Ethereum and the largest in the world. The long-term value that it can deliver is simply too good.
Convex Finance (CVX)
Convex Finance (CVX) is one of the biggest liquidity protocols in crypto. The project has nearly $6.6 billion in Total Value Locked so far. It simply allows users to deposit liquidity and earn boosted rewards in return. CVX has however fallen by almost 50% over the last 7 days. This discount makes it a great choice for DeFi dip buyers.
Yearn Finance (YFI)
Yearn Finance (YFI) has dropped out of the top 100 most valuable crypto projects. The coin has lost nearly 35% in a week. YFI is however backed by some outstanding investors and a great pedigree in the market. It’s just a matter of time before it fully recovers.