Next After the Hype: DeFi, NFT Tokens, or Meme Coins?
DeFi and NFT cryptocurrencies showed returns of thousands of percent. So let’s try to figure out what can gain popularity and bring high income in the future and what does the NFT marketplace have to do with it? Read in our LATOKEN review!
According to a recent study by the analytics platform DappRadar, the amount of blocked funds in DeFi projects has increased by 936% over the past year, exceeding $114 billion. This is money that investors allocate in DeFi projects to provide liquidity.
Amid a skyrocketing surge in the popularity of the decentralized finance industry, many DeFi tokens have shown an increase in value by thousands of percent. For example, in May, the YFI token set an all-time high at around $95,000. The corresponding altcoin was released in the summer of 2020 at a price of about $32. In less than a year, it has risen in price by 296 775%.
NFTs and NFT marketplace
A similar story is observed in the NFT market. This year, non-fungible tokens have gained a lot of popularity. Even the State Hermitage has sold its own NFT paintings for over 32 million rubles. Burger King, a world-renowned fast-food chain, has announced the NFT draw campaign. The social network TikTok will also issue its own non-fungible tokens. Moreover, some crypto exchanges have started launching their own NFT marketplaces. Users of these crypto exchanges get access to the NFT marketplace through their accounts.
What is an NFT marketplace? The NFT Marketplace is a marketplace that features all kinds of digital art and collectibles. The NFT Marketplace brings together artists, authors, and crypto enthusiasts on its platform to create and trade NFTs.
Another popular NFT topic is GameFi blockchain games. The token of one of the most popular games, Axie Infinity, updated its all-time high at $135.96 on October 4 2021. At the same time, back in November last year, the altcoin was trading at $0.14. For 11 months, it has risen in price by 97,028%.
By the way, you can start trading Axie Infinity (AXS) on the LATOKEN exchange!
Gaming sphere tokens
The rest of the tokens in the gaming sphere might have growth potential as well. For now, crypto enthusiasts might pay attention to the top twenty GameFi tokens in terms of capitalization.
The metaverse may well become one of the future trends in the cryptocurrency world and the gaming industry might be one of the drivers of this process.
Projects like Fortnite, PUBG, or Overwatch may soon evolve into something more than the usual multiplayer games for various platforms. The first NFT games, like CryptoKitties, were originally invented to maximize user engagement in the gameplay, emphasizing the importance of their actions and the ability to influence the irreversible development of characters.
And don’t forget about meme coins
Also, “meme” tokens, which we also recently wrote about in our LATOKEN review, can get a new impetus. In particular, projects with “dog” names are now again susceptible to growth. Over the week, the Shiba Inu and Dogelon Mars tokens have risen in price by 300%.
Another area that can be extremely positive is fan tokens. It is quite possible that with the return of the bulls’ dominance in the cryptocurrency market, one can expect an early reaction in the market of sports clubs’ fans.
Do you want to learn more about the most promising tokens through LATOKEN Review, and always stay up to date? To do this, just follow us on Medium, LATOKEN Blog, or LATOKEN VCTV channels.
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LATOKEN crypto exchange does not provide any investment, tax, legal, or accounting advice. This article is written for informational purposes only. Like other assets, cryptocurrency is subject to market risk. Please do your own research and trade with caution.