RATE Group | Two types of cryptocurrency are now dominating the market
77658
post-template-default,single,single-post,postid-77658,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Two types of cryptocurrency are now dominating the market

30 Jan Two types of cryptocurrency are now dominating the market

Posted at 22:33h in Cryptocurrency News by

[ad_1]

Two types of cryptocurrency tokens are outperforming the rest of the market, according to data from Longhash. Over the last year, native exchange tokens and tokens used for cryptocurrency lending—in DeFi platforms—had the greatest returns on investment (ROI).

The data, which LongHash sourced from blockchain research platform Messari, shows that only two of the 19 different token classes analyzed produced a positive ROI in the last year when measured against the US dollar.

Lending and exchange tokens had ROIs above 70% over the last year. Image: LongHash/Messari

Lending tokens were at the top, with an average ROI of 75%. These tokens are typically used by DeFi lending platforms, that allow you to lend and borrow money with other people around the world—without going through a bank or other third party. This suggests a rise in interest towards DeFi products and services.

Exchange tokens came second over the last year. These are cryptocurrencies native to crypto exchanges. They…

[ad_2]

Source link

Tags:
, , ,