Decentralized Finance or DeFi has been buzzing ever since China issued its latest ban on cryptocurrencies. These are some DeFi coins that have outpaced the year-to-date returns of Dogecoin (CRYPTO: DOGE), Tesla Inc (NASDAQ:TSLA), and Apple (NASDAQ:AAPL) as of the time of writing on Thursday.
BakeryToken (CRYPTO: BAKE): The token of the BakerySwap ecosystem has skyrocketed 10652.97% so far in 2021.
In comparison, Shiba Inu-themed DOGE has returned 3467.45% in the same period. Tesla and Apple YTD returns seem even more anemic at 10.72% and 7.64%, respectively.
BakerySwap claims to be the first Automated Market Maker and non fungible token exchange on the Binance Smart Chain.
BAKE touched an all-time high of $8.48 in early May and is currently trading 79.94% below that level.
Fantom (CRYPTO: FTM): The token associated with the directed acyclic graph smart contract platform has risen 7133.24% since 2021 began.
Fantom has soared this year in tandem with the so-called Ethereum killers. These tokens are gaining traction as the blockchain of the second-largest token by market cap faces congestion and soaring network or Gas fees.
This week, Fantom Foundation said it had partnered with Tajikistan’s Orienbank to trial a hybrid CBDC platform for deployment across the Central Asian republic.
“The CBDC solution will initially undergo a period of testing and refinement. Following initial trials, Orienbank and Fantom will seek to roll out the product nationally under the sandbox regulation of National Bank of Tajikistan,” Fantom said in a statement.
FTM touched an all-time high of $1.93 on Sept. 9 and is trading 34.84% below that level at the time of writing.
Rari Governance Token (CRYPTO: RGT): The native token of Rari Capital, a non-custodial DeFi robo-advisor, this coin has risen 6642% since January.
Rari Capital DAO tweeted Wednesday that the protocol has surpassed $500 million in total value locked and said this was a “huge milestone.”
Today has marked a huge milestone for the DAO and community!
The protocol has surpassed $500M in TVL.
Curious what’s next? Here are some upcoming developments on the roadmap: https://t.co/chtuvFGPpr
— Rari Capital DAO (@RariCapital) September 30, 2021
RGT was added to Coinbase Global Holding’s (NASDAQ:COIN) Pro trading platform on Sept. 7.
The token hit an all-time high of $26.27 on Sept. 26 and is trading 14.91% below that level at the time of writing.
Terra (CRYPTO: LUNA): Terra is associated with a blockchain protocol that utilizes stablecoins to facilitate global payments. The Token has risen 5,308.5% since the year began.
The most critical network update for LUNA dubbed “Columbus 5” was set to deploy on mainnet on Sept. 20.
1/ The official Columbus-5 execution plan and set of available resources
At the block height #4,724,000, the Columbus-4 chain will halt and the Columbus-5 mainnet migration will commence.
— Terra (UST) Powered by LUNA (@terra_money) September 29, 2021
LUNA hit an all-time high of $44.34 on Sept. 11 and is trading 19.73% below that level currently.
Telos (CRYPTO: TLOS): Telos is linked with a blockchain that is focussed on speed and scalability, the token has shot up 3958.82% on a YTD basis.
The project announced the release of its core wallet 3.0.5 on Wednesday, which it said was not mandatory.
Telos core wallet 3.0.5 has been released – Don’t panic.. its not mandatory. https://t.co/rLuCndYScH
— Teloscoin (CMC Ticker Telos) (@teloscoin) September 29, 2021
TLOS touched an all-time high of $1.02 on Sept. 10 and is trading 35.67% below that point at the time of writing.
Anyswap (CRYPTO: ANY): The token of the distributed platform which allows tokens to be swapped from other protocols has shot up 3646.7% so far this year.
AnySwap supports 17 chains and 456 tokens, as of last month, as per a tweet from the project.
Anyswap latest Ecosystem~
Supported Chains: 17
Supported tokens: 456
— Anyswap (@AnyswapNetwork) August 1, 2021
ANY touched an all-time high of $11.11 in early May. It is currently trading 45.19% below those levels.
Photo: Courtesy of Jernej Furman via Flickr