Aave

Maker

Uniswap

Orbs

<div class="finbold">
 <p class="paragraph">The total value locked (TVL) in the decentralized finance (DeFi) ecosystem recently surpassed $50 billion, considering multiple <a rel="noopener noreferrer nofollow" title="projects" href="https://thebittimes.com/tag/projects.html">projects</a>. Notably, this has made DeFi more valuable than countries’ economies like Uganda regarding their GDP.</p>
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 <p class="paragraph">At this point, the cryptocurrency market seems to be preparing for a bull market and an altseason in 2024. In this context, Finbold picked three DeFi projects to invest in for the next year.</p>
 <p class="paragraph">Essentially, we looked at key metrics from <em>DefiLlama</em> on December 14. Some are the total value locked, the ratio between market cap and TVL (MCap/TVL), and generated fees and revenue.</p>
 <p class="paragraph">In particular, Maker (MKR), Aave (AAVE), and Uniswap (UNI) stand out among the other protocols as solid DeFi <a rel="noopener noreferrer nofollow" title="projects" href="https://thebittimes.com/tag/projects.html">projects</a>.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="346" src="https://cdn.thebittimes.com/images/2023/12/14/e514473c70d37c2bbfcdaef3dda6597f.webp" alt="Best DeFi protocols by total value locked." class="wp-image-143120" srcset="https://cdn.thebittimes.com/images/2023/12/14/e514473c70d37c2bbfcdaef3dda6597f.webp 1024w, https://cdn.thebittimes.com/images/2023/12/14/e514473c70d37c2bbfcdaef3dda6597f.webp 300w, https://cdn.thebittimes.com/images/2023/12/14/e514473c70d37c2bbfcdaef3dda6597f.webp 768w, https://cdn.thebittimes.com/images/2023/12/14/e514473c70d37c2bbfcdaef3dda6597f.webp 1536w, https://cdn.thebittimes.com/images/2023/12/14/e514473c70d37c2bbfcdaef3dda6597f.webp 2048w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Best DeFi protocols by total value locked. Source: <em>DefiLlama</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-best-defi-projects-maker-protocol-mkr">Best DeFi projects: Maker Protocol (MKR)</h2>
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       <h3 class="font-bold leading-6 " id="total-value-locked-in-defi-surpasses-multiple-countries-gdp">Total value locked in DeFi surpasses multiple countries' GDP</h3>
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 <p class="paragraph">Maker is a collateral-based protocol created to support the multi-collateralized stablecoin DAI. Interestingly, MKR was one of the best performers during the recent bear market and continues to print gains.</p>
 <p class="paragraph">The governance token MKR is traded at $1,350.34 at the time of publication, up 163% year-to-date (YTD) from $513.15.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/14/1c2a6d7553d9b6b19796ab3bfd3d60da.webp" alt class="wp-image-143121" srcset="https://cdn.thebittimes.com/images/2023/12/14/1c2a6d7553d9b6b19796ab3bfd3d60da.webp 1024w, https://cdn.thebittimes.com/images/2023/12/14/1c2a6d7553d9b6b19796ab3bfd3d60da.webp 300w, https://cdn.thebittimes.com/images/2023/12/14/1c2a6d7553d9b6b19796ab3bfd3d60da.webp 768w, https://cdn.thebittimes.com/images/2023/12/14/1c2a6d7553d9b6b19796ab3bfd3d60da.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Maker (MKR) YTD price chart. Source: Finbold
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 </figure>
 <p class="paragraph">Maker is the second most valuable DeFi project, with $8.49 billion in total value locked, up 2% in the last month. Notably, MKR has an MCap/TVL ratio of 0.15, which suggests an oversold capitalization and a good investment opportunity.</p>
 <h2 class="wp-block-heading" id="is-aave-aave-a-defi-project-to-invest-in-for-2024">Is Aave (AAVE) a DeFi project to invest in for 2024?</h2>
 <p class="paragraph">Similarly, Aave has a higher total value locked than its token’s market cap by a ratio of 0.22. The most popular lending DeFi project already supports more than 10 chains and features among the four highest TVLs.</p>
 <p class="paragraph">As of writing, AAVE had $6.39 billion in TVL and generated more than $15 million in fees in the last 30 days, just like Maker.</p>
 <p class="paragraph">The protocol’s native token is trading at $95.68 by press time, which is 84% higher than its price in early 2023, at $51.93.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/14/f7fd097fc436cdb7ce1656170947520c.webp" alt class="wp-image-143122" srcset="https://cdn.thebittimes.com/images/2023/12/14/f7fd097fc436cdb7ce1656170947520c.webp 1024w, https://cdn.thebittimes.com/images/2023/12/14/f7fd097fc436cdb7ce1656170947520c.webp 300w, https://cdn.thebittimes.com/images/2023/12/14/f7fd097fc436cdb7ce1656170947520c.webp 768w, https://cdn.thebittimes.com/images/2023/12/14/f7fd097fc436cdb7ce1656170947520c.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Aave (AAVE) YTD price chart. Source: Finbold
  </figcaption>
 </figure>
 <h2 class="wp-block-heading" id="uniswap-uni-the-leading-dex">Uniswap (UNI), the leading DEX</h2>
 <p class="paragraph">Meanwhile, the leading decentralized exchange (DEX) is also featured among the best DeFi <a rel="noopener noreferrer nofollow" title="projects" href="https://thebittimes.com/tag/projects.html">projects</a> for 2024. Uniswap currently has $4.08 billion in total value locked, up 10% in a month, sitting in the 5th position by TVL.</p>
 <p class="paragraph">Impressively, the protocol has generated more than $50 million in fees in the last 30 days, directly rewarding its <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a>ors.</p>
 <p class="paragraph">In comparison to the other two DeFi projects, UNI could be deemed overbought, with a market cap 1.17 times higher than its TVL. Nevertheless, its ability to generate gains through fees and the high observed demand work in the protocol’s favor.</p>
 <p class="paragraph">All this contributes to the token’s shy performance in 2023, up 22% from $5.16 to $6.29 year-to-date.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/12/14/8bfb1c1d2fe88e381e937fef18bfeae7.webp" alt class="wp-image-143123" srcset="https://cdn.thebittimes.com/images/2023/12/14/8bfb1c1d2fe88e381e937fef18bfeae7.webp 1024w, https://cdn.thebittimes.com/images/2023/12/14/8bfb1c1d2fe88e381e937fef18bfeae7.webp 300w, https://cdn.thebittimes.com/images/2023/12/14/8bfb1c1d2fe88e381e937fef18bfeae7.webp 768w, https://cdn.thebittimes.com/images/2023/12/14/8bfb1c1d2fe88e381e937fef18bfeae7.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Uniswap (UNI) YTD price chart. Source: Finbold
  </figcaption>
 </figure>
 <p class="paragraph">It is important to understand that all the aforementioned assets are among the most solid DeFi projects right now. However, cryptocurrencies remain categorized as risk assets, and proper risk management is a must. There are no guarantees of returns, even for the most valuable financial ecosystems.</p>
 <p class="paragraph">Besides decentralized protocols, <a rel="noopener noreferrer nofollow" title="invest" href="https://thebittimes.com/tag/invest.html">invest</a>ors can also look to the top DeFi infrastructures, as previously reported by Finbold.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
 <p class="paragraph"></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/best-defi-projects-to-invest-in-for-2024-tbt73697.html">https://thebittimes.com/best-defi-projects-to-invest-in-for-2024-tbt73697.html</a></p>

Best DeFi projects to invest in for 2024

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