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3 DeFi projects that can survive the bear market

 


In a crypto bear market, everything gets sold off. It is therefore not surprising that the DeFi space has also had to suffer massive price losses in the past few months. Whether decentralized exchanges (DEX) or lending protocols, even DeFi heavyweights like Uniswap or Maker have lost between 70 and 80 percent of their market capitalization since the beginning of the year. But like previous bear markets, this one will eventually come to an end. For this reason, below we look at three DeFi projects that could reach the light at the end of the tunnel.


1. DeFi exchange Uniswap (UNI)

Uniswap is the undisputed number one decentralized exchange in the DeFi space. In the last six months alone, traders have paid over $300 million in fees to execute swaps on the decentralized exchange – more than any other DeFi protocol.

If Uniswap can defend this market share until the next bull run, then it is very likely that UNI will also be among the top tokens in decentralized finance in the next bull run.


2. Liquid-Staking-Protokoll Lido (LDO)

Just as Uniswap is the largest DEX in crypto space, Lido is number one in liquid staking. The DeFi protocol allows its users to stake any amount of ETH and has created stETH, a token that automatically accumulates Ethereum staking rewards.


In exchange for this service, the liquid staking protocol collects 10 percent of its users' staking rewards. In the last six months, Lido has been able to earn around 16 million US dollars in this way .


Like Uniswap in DEX space, Lido has tremendous dominance in the Ethereum staking sector. Currently, the protocol is responsible for around 30 percent of all ETH staked. However, Lido is not only a big player in Ethereum staking, but also offers liquid staking for Polygon (MATIC), Solana (SOL), Polkadot (DOT) and Kusama (KSM). However, this dominance in the staking sector could eventually become a problem for Lido, as Lido is repeatedly criticized for it in the crypto community.

It is therefore quite possible that Lido will develop into one of the largest DeFi staking projects in the entire crypto world in the next few years thanks to its First Mover Advantage. If that is the case, LDO should also be among the winners in the DeFi sector in the next bull run.


3. Curve (CRV) stablecoin DeFi exchange

After Uniswap, Curve is the second largest decentralized exchange in the Ethereum ecosystem. Like Uniswap, the DeFi protocol offers swaps for blockchain tokens. In contrast to Uniswap, Curve focuses exclusively on swaps for stable trading pairs such as USDT/USDC, DAI/USDT or STETH/ETH. According to Coingecko, Uniswap is even responsible for over 98 percent of the total trading volume in the crypto space for the latter trading pair .


While Uniswap has been able to gain market share from Curve in recent years, particularly in the stablecoin swap market, Curve is still a big player here.

Like Lido in liquid staking, Curve has found a niche in which it is dominant with stable pair swaps. If the DeFi protocol can maintain this market position in the future, then Curve will not become irrelevant in the next bull market.

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