Whales Buy Tokens of Decentralized Marketplaces and DeFi Projects

Whales Buy Tokens of Decentralized Marketplaces and DeFi Projects

Source: @Terrians_

According to analysts, big cryptocurrency investors are actively buying promising altcoins, including Crypto.Com Coin (CRO), Aave (AAVE), Augur (REP), Synthetix (SNX), Universal Market Access (UMA), and Uniswap (UNI).

The whales demonstrate the greatest interest in the tokens of the CRO, UMA, UNI trading platforms. According to the analytical company Santiment, in a month and a half, whales have increased their investments in CRO by more than 40%. Due to this, the coin grew by almost 60%, its capitalization amounted to almost $16 billion. It now rates 15th in the Coinmarketcap rating. On the hype, CRO updated its all-time high (ATH) at $0.96 but later corrected by 30%.

The decentralized trading platform Universal Market Access, better known as Uma, drew the attention of whales earlier in the year. By the end of the year, the coin dropped by almost 40%, but the whales continue investing in it. Within a month and a half, the volume of these investments increased by 2.3%.

The popular decentralized exchange Uniswap has been a growth leader for almost two years. The UNI token has not been growing in recent weeks. The historical maximum has not been updated since May 2021. But, according to Santiment, the whales are not withdrawing funds from UNI and even increased their investment by 4.1% in December.

Investors also are interested in the Terra (LUNA) net. The LUNA token turned out to be one of the best digital assets in 2021, it grew more than 150 times, from $0.66 on January 1 to ATH $103.33 on December 27. The total value locked (TVL) and capitalization of the stablecoin TerraUSD (UST), which is launched on the Terra blockchain, are increasing.

UST became the largest decentralized stablecoin with a capitalization of $10 billion. Earlier it was DAI stablecoin from MakerDao, which was Number one with a market capitalization of $9.4 billion. The rise of the UST capitalization is due to total fiat funds to which the stablecoin is pegged, not because of price soar. Since the beginning of the year, the capitalization of UST has grown 50 times.

According to the DeFi projects data provider DeFi Llama, more than $17.9 billion is locked in Terra. According to this indicator, the Terra network has already surpassed the Binance Smart Chain blockchain, in which $17.3 billion is locked. Ethereum, the leading altcoin with blocked assets, has more than $162 billion locked on its blockchain.

Experts point out that the most popular DeFi project on the Terra network is the Anchor Protocol (ANC), which accounts for almost $9 billion in TVL (total value locked). Anchor Protocol is a lending protocol that promises an annual percentage yield, APY, of up to 20%. Amidst zero rates in fiat markets, such opportunities provided by digital assets will be attractive to investors for a long time to come.