With the current rise of the Metaverse world, it appears that the Yield Farming market has been overlooked. This post is all about the top 3 Yield Farming cryptocurrencies for 2022. Let’s take a look at it in more detail.
Top 3 Yield Farming Cryptocurrencies: Uniswap (UNI) +454%
UNI/USD Monthly chart – TradingView
Of all the cryptocurrencies that witnessed huge triumphs in 2021, Uniswap is perhaps one that has earned the most traction. According to CoinMarketCap, Uniswap (UNI) jumped off with an exchange value of $5.17 at the start of 2021. By May it had already risen to a worth of $44.97. Although the price of Uniswap has decreased by a bit since then, yet in one year the UNI price has increased by almost +454%. Uniswap is a decentralized cryptocurrency exchange. And, UNI is the native cryptocurrency of the Uniswap exchange. The decentralized crypto exchange offers users the power to complete trades and transactions without any third-party mediators controlling them. The UNI could be promising in 2022.
Top 3 Yield Farming Cryptocurrencies: 1inch Network Token (1INCH) +189%
1inch is a DEX aggregator. It means that it digs a few decentralized exchanges for the most affordable prices and diverts its clients’ trades between them to ensure the soundest prices. When users want to purchase a cryptocurrency they always search in various Dexs, where prices are mixed, as well as charges. What 1inch does is to look for the most affordable method to operate by utilizing the different exchanges. In one year the 1INCH price has increased by almost +189%, just enough for a spot on our top Yield Farming cryptocurrencies list.
Top 3 Yield Farming Cryptocurrencies: PancakeSwap (CAKE) +2,474%
CAKE/USD Monthly chart – TradingView
PancakeSwap is a decentralized exchange (DEX) that still delivers intense growth prospects in the future. Lower fees and increased liquidity make the platform look incredibly attractive. The movement towards decentralized financial products (DeFi) and the extensive user base make PancakeSwap an incredibly attractive product. PancakeSwap was developed on the Binance Smart Chain. This is why the fees for the decentralized exchange are much lower than for the rival Uniswap.
One of the outstanding benefits of the Binance Smart Chain is its increased liquidity. PancakeSwap has the most elevated daily user base of any decentralized application and persists to have the fourth highest market volume. The reason why the liquidity on the platform can be constantly secured. In one year the CAKE price has increased by almost +2,474%, just enough for a spot on our top Yield Farming cryptocurrencies list.
Conclusion
Yield Farming can be a fantastic method to make a profit in 2022. Nevertheless, it is important to mention that Yield Farming delivers the maximum profit when an asset is trading sidewards. So, always invest carefully.
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