In today's rapidly changing cryptocurrency market, the DeFi sector shines like a brilliant pearl, radiating endless opportunities and challenges. For many investors, exploring potentially valuable altcoins in this sector is undoubtedly key to discovering wealth treasures. Now, let us delve into the mysterious world of DeFi and unveil the mysteries of altcoins worth holding.
I. Three Core Areas of the DeFi Sector
The DeFi sector is mainly composed of three core areas: DEX (Decentralized Exchanges), lending platforms, and RWA (Real World Assets), each with its unique charm and competitive landscape.
II. DEX Spot Sector: The Competition Between Leaders and Potential Stocks
In the DEX spot sector, UniFi (UNI), with its strong capabilities, has firmly seated itself on the throne. It acts like a giant ship in the cryptocurrency trading field, navigating steadily through the market's waves and attracting the attention of numerous investors.
PancakeSwap (CAKE) and Raydium (RAY) can be considered as suboptimal choices, representing the BSC public chain and the SOL public chain, respectively. However, Raydium faces a strong competitor, Orca (ORCA), and its future development prospects are filled with uncertainty. In comparison, UNI's position is more stable, and CAKE also has good potential due to the advantages of the BSC public chain. As for projects like SushiSwap (SUSHI), Thena (TENA), Celo (CELO), Mdex (MDEX), Dodo (DODO), and Astar (ASTR), they have gradually lost their former glory in the wave of competition and are becoming marginalized in the market.
However, it is worth noting the Sui (SUI) public chain, which primarily focuses on financial management, but may still give rise to a new DEX project - Cetus (CETRS) in the future. However, CETRS's development is currently affected by a recent hacking incident, making the risk high; investing in it feels more like a gamble filled with uncertainties, with unpredictable returns.
III. DEX Contract Field: The Dominance of Kings and the Fate of Zero
When we turn our attention to the DEX contract field, Hype (HYPE) is undoubtedly the uncontested king, with a market share exceeding 80%, far outpacing its competitors. HYPE, with its innovative mechanisms and excellent fluidity, is like an invincible general on the battlefield, leading other projects by several levels.
In contrast, projects like Dydx (DYDX), GMX (GMX), and Pere (PERE) seem to have lost their qualification to compete with HYPE, and their future fate is likely to be elimination by the market, ending up at zero. In the DEX contract arena, HYPE's dominant position is almost unshakeable; besides it, other projects have relatively low investment value.
IV. Lending Platforms: AAVE's Dominance and the Decline of Competitors
In the lending platform sector, Aave (AAVE) holds a dominant position with over 90% market share. It stands like a towering mountain in the cryptocurrency lending market, making it difficult for other competitors to surpass.
Projects like Compound (COMP), Yearn.Finance (YFI), and Venus (XVS) once attempted to make a mark in this field, but have gradually lost their competitiveness today. Although COMP once had a period of competing with AAVE, its on-chain data is now only about half that of AAVE. However, compared to other projects, COMP's performance is still relatively better. In the current market environment, AAVE undoubtedly stands out as the most worthwhile altcoin to hold among lending platforms, thanks to its strong advantages and stable performance.
V. RWA Track: The Controversy and Concerns of Leaders
Regarding the RWA track, while many claim that On đỏ (ONDO) is the leader of this track, it indeed holds a leading position in terms of market cap. However, ONDO has some issues that cannot be ignored; its market cap is too high, leading to poor liquidity and difficulty in manipulation, which somewhat limits its further development and poses potential risks for investors.
In summary, among the numerous altcoins in the DeFi sector, investors need to be discerning and carefully identify those projects that truly have potential and value for investment. I hope the above analysis can provide valuable references for investors to find their own wealth opportunities in the world of DeFi.
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