One of the top analytics platform has listed the top 10 DeFi projects in terms of development activity
UMA protocol tops the list, however the other projects also manifest a strong impulse in betterment of the crypto space
DeFi Space is one of the most explosive spaces which is competent to outperform the major crypto assets. Majority of the DeFi projects recorded the highest levels, and expected to register more upper limits in the coming days.
One of the popular on-chain analytics platforms, Santiment conducts frequently. According to the insights put up, the tokens ranks depend on the development activity, which is an indicator of project success.
Below mentioned are the Top 3 highest developing projects in March 2021
The UMA protocol tops the list witnessing a stream of new faces from the Coinbase Earn program on Coinbase. The product development and protocol development both are at the advanced level.
The UMA price rallied magnificently in the past month and smashed an ATH at $43.37, but declined more than 40% at press time. However, the price seems to be rallying further from the current levels at $24.83.
The Pancake Swap is currently working on many exciting and promising new developments, likely to go live very soon. A entire new model on IFO, a new and advance lottery, prediction market, auto-compounding, trading competitions, etc are yet to come.
The native token CAKE price, at the time of writing is experiencing an uptrend with nearly 2.61% jump, touching $18.14. However, it is very close to it’s all-time high and aiming to form a new one very soon.
The platform’s spotlight in March is on DeFi and governance. The platform is intending to deliver much interesting infographics and a series called ‘Informed Voting’. The native token MKR price, had a historical bull run above $3000 and currently setting around $2,273 at the press time.
Other projects listed in the top 10 developing projects are Synthetix, Bancor, 0xProject, ThorChain, Augur, Uniswap and Radix.
Overall, the DeFi projects are set to deliver some of the promising projects. And hence, the tokens like UMA price, CAKE price, UNI price, MKR price, etc are expected to rally high towards new ATH very soon.