Decentralized finance, or DeFi, has been one of the most exciting and innovative sectors in the crypto space in the past few years. DeFi offers a range of financial services and applications that run on blockchain networks, without the need for intermediaries or centralized authorities. DeFi enables users to lend, borrow, trade, earn, and access various assets and markets in a permissionless and transparent way.
While Bitcoin (BTC) and Ethereum (ETH) have dominated the recent crypto bull market, many altcoins in the DeFi space have also shown impressive growth and potential. Some of these projects have delivered massive returns to their investors, while others are still undervalued and have room for further expansion.
In this article, we will introduce three DeFi projects that could explode 100X in 2024, based on their fundamentals, features, and prospects. These projects are:
- Alephium (ALPH)
- Numeraire (NMR)
- Uniswap (UNI)
Alephium: A Scalable and Energy-Efficient Blockchain for DeFi
Alephium (ALPH) is a sharded layer-1 blockchain that aims to provide scalability, security, and energy efficiency for DeFi and decentralized applications (dApps). Alephium uses a novel consensus mechanism called Proof-of-Less-Work (PoLW), which dynamically adjusts the mining difficulty to reduce the energy consumption and carbon footprint of the network. Alephium also supports smart contracts, cross-shard transactions, and interoperability with other blockchains.
Alephium has several advantages over existing blockchains, such as Ethereum, that suffer from congestion, high fees, and environmental concerns. Alephium can process thousands of transactions per second, with low latency and low cost. Alephium also offers a high level of programmability and compatibility, enabling developers to create various DeFi applications and services on the platform.
Alephium launched its mainnet in September 2023, and has since attracted a lot of attention and support from the crypto community. The ALPH token, which is used for governance, staking, and paying fees on the network, has increased by over 1,500% since its launch, reaching a price of $3.35 and a market cap of $237 million. However, compared to other similar projects, such as Kaspa (KAS), which has a market cap of $4 billion, Alephium is still undervalued and has a lot of room for growth. If Alephium can achieve a similar valuation as Kaspa, it could easily deliver a 100X return to its investors.
Numeraire: A Platform for Data-Driven Insights and Trading Signals
Numeraire (NMR) is a platform that leverages artificial intelligence (AI) and machine learning (ML) to generate data-driven insights and trading signals for the crypto market. Numeraire operates a global network of data scientists, who compete to create the best predictive models and algorithms for various financial scenarios. The data scientists stake their NMR tokens to participate in the competitions, and are rewarded or penalized based on their performance and accuracy.
Numeraire is a unique and innovative project that combines the power of AI and ML with the incentives and security of blockchain. Numeraire enables users to access valuable and reliable information and analysis, which can help them make better investment decisions and strategies. Numeraire also creates a decentralized and collaborative environment for data scientists, who can share their knowledge and expertise, and benefit from the collective intelligence of the network.
Numeraire has been in operation since 2017, and has established a strong reputation and track record in the crypto space. The NMR token, which is used for staking, governance, and accessing the platform’s services, has increased by over 600% in the past year, reaching a price of $62.50 and a market cap of $341 million. However, compared to other AI and ML projects, such as SingularityNET (AGI), which has a market cap of $1.2 billion, Numeraire is still undervalued and has a lot of room for growth. If Numeraire can achieve a similar valuation as SingularityNET, it could easily deliver a 100X return to its investors.
Uniswap: A Leading Decentralized Exchange and Liquidity Provider
Uniswap (UNI) is a decentralized exchange (DEX) and liquidity provider that runs on the Ethereum blockchain. Uniswap allows users to swap any ERC-20 tokens without the need for intermediaries or centralized platforms. Uniswap also enables users to provide liquidity to the platform, and earn fees and rewards for doing so. Uniswap uses an automated market maker (AMM) model, which creates liquidity pools for each token pair, and determines the exchange rate based on the supply and demand of the tokens.
Uniswap is one of the most popular and successful projects in the DeFi space, and has played a vital role in the growth and adoption of the sector. Uniswap offers a fast, easy, and secure way to trade and access various crypto assets and markets, without the limitations and risks of traditional exchanges. Uniswap also offers a high level of transparency and fairness, as the platform is governed by its community of UNI token holders, who can propose and vote on the platform’s policies and upgrades.
Uniswap launched its UNI token in September 2020, and has since become one of the top 10 cryptocurrencies by market cap. The UNI token, which is used for governance, staking, and paying fees on the platform, has increased by over 1,000% since its launch, reaching a price of $25.50 and a market cap of $15.3 billion. However, compared to other leading DEXs, such as PancakeSwap (CAKE), which has a market cap of $28.7 billion, Uniswap is still undervalued and has a lot of room for growth. If Uniswap can achieve a similar valuation as PancakeSwap, it could easily deliver a 100X return to its investors.
