The crypto market has experienced an increase in price in the past two days despite the week’s initial downturn. Most coins are experiencing price surges, and investor sentiment is gradually becoming more positive. With investors expected to return to the market, several decentralised exchanges (DEXs) should sustain growing activity. This means that many investors will be looking for the best DEX coins to buy now.
Below, we’ll look into some of the best DEX coins for high profits.
1. Lucky Block (LBLOCK)
The top option among the best DEX coins is Lucky Block’s LBLOCK token. While it is not a DEX coin, this digital asset has a lot of potentials and is already gaining massive traction from investors.
Lucky Block is a gaming platform built on the principle of blockchain technology. The platform is open to everyone regardless of their location, and it uses blockchain technology to ensure transparency and fairness in transactions. LBLOCK was launched in January 2022 as a means of granting easy access to all of the games in the Lucky Block ecosystem.
After launching at a price of $0.00020, LBLOCK surged to an all-time high of $0.0096 less than a month after its launch. The coin trades at $0.00143 today, down by 7.095% in the past 24 hours.
Despite the price drop, LBLOCK remains a hot commodity. The Lucky Block developers are working hard to expand their community. They recently signed boxing legends Dillian Whyte and Florian Marku as ambassadors.
LBLOCK also recently celebrated 50,000 holders. This milestone, which occurred less than 3 month after its launch, shows that investor demand for LBLOCK remains very high.
2. Curve Finance (CRV)
Here, we have CRV, one of the best DEX coins in the market. CRV is the token for the Curve Finance protocol. Curve Finance is currently the largest decentralised exchange in the market, with DeFi Pulse data showing that the exchange has almost $10 billion in total volume locked.
CRV, the exchange’s token, currently trades at $2.37. This is a fall of 3.57% in the past 24 hours.
The digital asset is starting to attract more investor interest. Recently, reports confirmed that Abra – a financial services company with strong crypto links – bought $13.46 million in CRV tokens. The company made the purchase at an average of $2.33 per coin. This purchase indicates more institutional interest in the DEX coin.
After gaining 12% on Wednesday, CRV is poised to grow even more. A jump in capital flow and increasing institutional investment should help improve the coin’s prospects.
3. dYdX (DYDX)
As an exchange, dYdX has so far managed to carve out an interesting niche for itself. Also built on Ethereum, this broker offers lending, borrowing, and betting tools for users.
dYdX has so far grown to become the leading derivatives exchange for the decentralised space. It was perhaps the first platform to bring margin lending and trading to the decentralised finance (DeFi) industry, ensuring that these features don’t stay in the hands of centralised platforms like Huobi and Binance alone.
Today, dYdX has seen significant growth, with over $1 billion in total volume locked. While the metric is down by 0.13% in the past day, DYDX’s price of $3.27 is also down by 0.88% in the same period.
Presently, the biggest piece of news concerning dYdX is the exchange’s move to become fully decentralised. Last month, the exchange confirmed that they intend to become fully decentralised by the end of the year.
Also, several aspects of the dYdX exchange – including its order book and matching system – are still managed by dYdX Trading Inc. By making the entire system decentralised, dYdX is looking to ensure that all parts of its operation are more seamless, and protocol failure is minimised.
4. PancakeSwap (CAKE)
PancakeSwap’s token, CAKE, comes next on our list of the best DEX coins. The asset has continued to benefit from PancakeSwap’s position as the largest DEX built on the Binance Smart Chain. We expect to see some fireworks from the digital asset as the market continues to move bullish.
Today, CAKE trades at $7.47 – down by 0.88% in the past day. The asset is so far trading above the broader market, which is down by 8.30% in the same period.
PancakeSwap is expected to see some growth following the launch of the Binance Bridge 2.0. Users should expect to see improvements on the integration between Binance’s centralised suite and DeFi products built on the Binance Smart Chain.
Binance has explained that Bridge 2.0 will improve the user experience of many DeFi products in its suite. With this being a major issue many DeFi protocols face, addressing it will help tools like PancakeSwap appeal to a broader audience.
5. SushiSwap (SUSHI)
Rounding out our list of the best DEX coins to buy is SUSHI – the governance token for the popular exchange SushiSwap. An Ethereum-based exchange, SushiSwap is looking to power an ecosystem where users will be able to easily swap tokens and trade supported assets.
Trading at $2.25, SUSHI is down by 0.92% in the past 24 hours. This is in line with the fall in the protocol’s total volume looked (TVL). The TVL stands at $1.22 billion, down by 6.35% in the last 24 hours.
While the past few weeks haven’t been SushiSwap’s best, the protocol’s developers remain resolute in their mission to bounce back. The SushiSwap protocol released a blog post last week where they laid out their restructuring plans. Following the exit of several key team members, the company has reconstituted its managing team and built a suitable compensation plan for employees.
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