decentralized finance or DeFiis among the latest stars of the crypto money industry, and offers many different innovations to the industry. After the latest developments, industry participants started to follow some projects closely. As the demand for decentralized financial solutions continues to grow, these tokens could see a significant increase in value due to their use and strong community support.
Stacks (STX)
stacks The blockchain is unique in that it uses Bitcoin as its mainstay. This means it takes advantage of the security and stability of the Bitcoin network while adding new functionality and capabilities. Stacks also includes a new consensus mechanism called Proof of Transfer (PoX), which allows STX holders to earn Bitcoin rewards by locking their tokens and participating in the network consensus.
Bitcoin has been booming for the past few days and if this bull run continues, Stacks will make a big splash. This DeFi token has increased by 31.60% in the last 24 hours and is trading at $1.04. Its market cap was just over $1 million, while trading volume increased by nearly 80%. In the last 7 days, it has increased by 60%.
Conflux (CFX)
Confluxis a next-generation blockchain platform designed to address the scalability and security limitations of existing blockchain networks. Koinfinans.com As we reported, the Conflux network uses a unique consensus algorithm called Tree-Graph, which combines the best features of both Proof of Work and Proof of Stake consensus mechanisms to achieve high throughput and transaction certainty.
The Conflux token has risen by 59% over the past 7 days and has shone 35.13% over the previous 24 hours. Each CFX token is currently trading at $0.3308. Its market cap is $882.79 million and trading volume has increased by 61.69% in the last day.
Kava (KAVA)
Kavais a decentralized finance (DeFi) platform built on the Cosmos blockchain. It offers a range of financial services such as borrowing, lending and trading digital assets, including cryptocurrencies and stablecoins. Kava has partnerships with many major companies in the blockchain industry, including Binance and Huobi, and has received investments from leading venture capital firms such as Ripple.
A 42.48% jump in the last 7 days and a 5.50% increase in the last 24 hours have the potential to trigger an increase in the value of the token. Each KAVA token is trading at $1.16. Notably, its market cap is $511 million and trading volume is down 0.65%.
You can follow the current price action here.