Top 10 hottest DeFi projects to make you rich in 2021, according to Ben Armstrong
In the recent video, analyst Ben Armstrong reveals his top list of Defi projects that could be poised to make the most money in a DeFi resurgence.
“Ethereum is mooning as we speak. After 2 months of laying dormant, it is once again on the moon. The volume and search trends for ETH are starting to go up. One area of crypto that is the most affected by the Ethereum movements is decentralized Finance”, the trader says.
He adds that over the summer of 2020, many projects absolutely pumped based on their associations with ETH. Then in early 2021, the same thing happened. There has been a lull recently in the world of Defi and it now looks like it could be bouncing back.
The first DeFi project on the list UniSwap (UNI), the top decentralized exchange in the world and has a ton of upside, according to Armstrong.
“There are also talks that Uniswap, like 1inch before it, could branch out to other chains like Binance Smart Chain. If that happens, watch out! But the fact is I believe Uniswap is still a very profitable project. It has more room to go. The top centralized exchange, Binance, has the No. 1 exchange coin. And it’s No. 3 overall currently. Uniswap, in my opinion, has more current potential and upside than BNB”.
Next on the list is Chainlink (LINK).
“Chainlink is an oracle project. It has partnerships with a ton of projects and chains. I still believe Chainlink has the potential to find itself as the No. 3 overall cryptos by the end of this year”.
The trader notes that although it has been stagnant lately by Ethereum, it is getting ready to break out again.
Wrapped Bitcoin (WBTC) is also on the list. However, the trader says that there is no reason to invest in this coin.
Terra (LUNA) and Aave (AAVE) are the next interesting projects. While Terra has blasted off returning 200% gain over the month, Aave also enjoyed a crazy return of 68,000% last year.
“I believe Aave is primed to move closer to the $1,000 mark during this next DeFi resurgence”.
Coming next on the list is Avalanche (AVAX). Armstrong believes that the coin has great potential and will definitely get into the top 20 market cap soon.
DAI (DAI) and Pancake Swap are another huge DeFi projects that have seen incredible returns this year.
However, as for Pancake Swap (CAKE), the trader wonders if its recent pump has made it run a bit out of gas so he currently does not own any (CAKE).
The two last coins are Compound (COMP) and Synthetic (SNX).
“We got a huge story involving someone moving $1.3 billion into Compound. This DeFi lending protocol has seen huge returns for investors all year. And I think this story is an indicator that a resurgence is upon us”.
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