3 Super High Yield DeFI Crypto For July 1

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As a seasoned crypto investor with a keen eye for high-yield DeFi opportunities, I find the current landscape teeming with potential. The rapid expansion of blockchain protocols and decentralized finance applications has brought forth several promising projects that offer lucrative returns. In this article, I’d like to share my perspective on three legit and super high-yield DeFi cryptos: Sushi (SUSHI), Algorand (ALGO), and Filecoin (FIL).

In the rapidly expanding world of Decentralized Finance (DeFi), there are numerous high-yield crypto projects. However, not all of these projects are sustainable in the long run. The crypto landscape has witnessed remarkable growth, with some of the leading blockchain protocols boasting total value locked (TVL) worth billions of dollars. In your exploration of these DeFi gems, consider the following three legitimate and exceptionally high-yielding projects: [1], [2], and [3].

1. High Yield DeFi Crypto – Sushi (SUSHI)

Sushi is a decentralized finance (DeFi) platform that operates under community governance through the Sushi Decentralized Autonomous Organization (DAO). This system rewards users with attractive returns by allowing them to stake their cryptocurrencies. Sushi encompasses various DeFi applications, including providing liquidity, farming yields, and staking assets.

As a token analyst, I’d describe it this way: Sushi’s native governance token, SUSHI, underwent significant price fluctuations following the exit scam by Chef Nomi, its founder. However, the resilient Sushi community rallied under 0xmaki’s leadership, resulting in a remarkable surge to an all-time high of $23 during the 2021 bull market. Currently, SUSHI is priced at $0.846 – a 78% recovery from its rock bottom price.

3 Super High Yield DeFI Crypto For July 1

On Ethereum‘s mainnet, there exists a decentralized finance (DeFi) platform named Sushi. This platform offers various liquidity pools with attractive yields. Among these, the YFI Whale pool boasts the highest Annual Percentage Yield (APY) at 17.73%, followed by the Tether Turtle pool which provides an APY of 11.71%. According to Coinbase, staking Sushi tokens yields a return of 4.68% currently, representing an increase from 4.57% in the previous day. In contrast, the APY for SUSHI staking was recorded at 3.64% only a month ago, signifying a significant upward trend. Essentially, the more individuals participate in staking Sushi tokens, the higher the resulting yield.

The television value locked (TVL) in Sushi amounts to $302 million, while its market capitalization stands at $163 million. This signifies a ratio of TVL to market cap at approximately 0.54. This finding suggests that the value of SUSHI could be underestimated, potentially leading to an increase in price, making it advantageous for those seeking high yields.

2. Algorand (ALGO)

Algorand is a versatile, high-performing, and decentralized blockchain system engineered for swift and secure transactions. Its distinctive consensus protocol safeguards both decentralization and security. Transactions are validated in mere seconds, eliminating the requirement for confirmations and thereby diminishing the risk of forks and double-spending incidents. Additionally, Algorand is characterized by affordable transaction fees, making it an attractive choice for a broad user base.

The Algorand network’s native utility token, ALGO, empowers its owners to cover transaction costs and participate in significant network decisions. Moreover, ALGO owners have the opportunity to deposit their coins and collect incentives by contributing to the network’s security.

The current yield on Algorand staking stands impressively high at 246.11%, marking a significant surge. Within the last 24 hours, this reward has skyrocketed by an astounding 4,573%, and over the past 30 days, it has increased by a staggering 5,278%. According to Coinbase’s latest data, just yesterday, the Algorand staking APY was a mere 5.27%.

As a researcher studying the cryptocurrency market, I’ve noticed an intriguing development: the Annual Percentage Yield (APY) for certain cryptocurrencies has seen a significant increase following Coinbase’s announcement of send-and-receive support for US Dollar Coin (USDC) on Algorand. This means that users can now easily transfer USDC between their Coinbase and Algorand wallets, potentially increasing the demand and value of USDC on this platform, leading to higher APY rates.

Coinbase now allows transferring and receiving US Dollar Coin (USDC) on the Algorand network. We’re thrilled to continue broadening the reach of USDC across various platforms.

— Coinbase Assets (@CoinbaseAssets) June 25, 2024

As a network analyst, I’ve noticed that we’ve recently experienced a significant change: Tether, the issuer of the US Dollar-pegged stablecoin USDT, has announced they will no longer provide new issues of this asset on our platform, Algorand. This means that the circulation of USDT within our network will be affected.

As an analyst, I’d rephrase it as follows: The current price of Algo is $0.146, representing a 4.4% rise over the past 24 hours. This uptick is accompanied by a substantial surge in daily trading volume, which has jumped by 36%. These developments underscore heightened market activity surrounding Algorand. With a market capitalization of $1.1 billion, this DeFi crypto stands out as a potentially safe and high-yield investment option within the current cryptocurrency landscape.

3. Filecoin (FIL)

As a crypto investor, I would describe Filecoin as follows: I’m part of a decentralized storage community based on IPFS, or Interplanetary File Storage protocol. By sharing my unused storage space with this network, I become a participant in a marketplace where users can purchase affordable storage solutions from me and other participants. This peer-to-peer system incentivizes me to offer my resources, while ensuring that demand for storage is met efficiently.

In contrast to Filecoin, which utilizes a decentralized network for data storage, the conventional options for file storage like Amazon Web Services, Google Cloud, and Dropbox, involve storing data on centralized servers controlled by large corporations.

As a crypto investor, I’d say: “I’ve noticed that FIL, the native token of the Filecoin network, has seen a 8.1% price rise over the last week. Currently, it’s trading around $4.51 according to CoinGecko.”

3 Super High Yield DeFI Crypto For July 1

As an analyst, I’d express it this way: In the decentralized physical infrastructure network (DePIN) sector, Filecoin stands out as a pioneer. Moreover, Filecoin offers additional opportunities for investors to delve into Decentralized Finance (DeFi). By staking FIL tokens, Filecoin holders are eligible for rewards with a current Annual Percentage Yield (APY) of 20.56%. This APY has seen an increase of 12.6% in just the last 30 days.

More recently, Filecoin launched the Filecoin Liquidity Pool (FILLiquid) – a new borrowing and lending platform. By depositing their FIL tokens into this pool, token holders enable others to obtain Filecoin when required.

I’m thrilled to announce that as we enter a new month, we’re eagerly anticipating the imminent launch of our mainnet. Brace yourselves for a groundbreaking leap forward in Decentralized Finance (DeFi)!
Come on board with #FILLIQUID and contribute to the evolving landscape of finance! We’re pushing the limits of what decentralized borrowing and liquidity provision can achieve.
— FILLiquid (@FILLiquid) July 1, 2024

People can earn additional Filecoin by letting others borrow their Filecoin through FILLiquid. The current annual percentage yield (APY) for staking in this platform is 1.82%. This rate might rise as more individuals contribute to the lending protocol. Please note that FILLiquid is currently in its testing phase, and the mainnet launch is imminent.

Conclusion

Three high-yield DeFi cryptos offer intriguing prospects for the upcoming months, highlighting the possibility of substantial gains within the decentralized finance arena. With the DeFi sector consistently pushing boundaries and garnering attention, these lucrative choices underscore the exciting and profitable characteristics of crypto investments.

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2024-07-01 17:33