Moralis is the best on-chain tool for spotting new altcoins with potential, including upcoming DeFi projects. It currently doesn’t sort tokens into categories, but if a DeFi coin is gaining on-chain traction, Moralis offers the best way to spot it. Moreover, since on-chain activity precedes price action, this approach allows you to find the best DeFi projects to invest in.
Check out the following section to explore some of the most promising DeFi projects in 2023. Moving forward, you’ll also have a chance to learn what core aspects you need to consider when determining the best DeFi projects to invest in.
We’ll also tell you where you can find new DeFi coins. Finally, we’ll focus on ensuring you know how to find new DeFi projects on your own.
List of Upcoming DeFi Projects with Solid Potential in 2023
Before diving into the following list of upcoming DeFi projects with solid potential in 2023, we need to clarify two things.
First, you need to know that DeFi is a broad term. It essentially entails all decentralized crypto projects that have anything to do with finance (DeFi is short for decentralized finance). So, if a project includes any peer-to-peer financial services (lending, getting a loan, trading, etc.) on a public blockchain, such as Ethereum, it falls under the DeFi category. Consequently, even a meme coin that is truly in the hands of a community and offers staking or other types of DeFi services can also be classified as a DeFi project. Essentially, you should think of “DeFi” as an umbrella term that can include tokens that fall into different other categories.
Second, although we provide a list in this article, we do not promote or stand behind any DeFi projects. As you review the following list of upcoming DeFi projects with solid potential, remember to always do your own research (DYOR) before trading or investing. DYOR is the only way to determine the best DeFi projects to invest in. So, nothing we state herein should be considered financial advice!
Additionally, note that upcoming DeFi projects entail those yet to go live and those that went live before the last crypto cycle’s top.
Aura Finance (AURA)
Aura Finance presents a revolutionary protocol built on top of the Balancer platform. This protocol claims to offer users an unparalleled liquidity provision experience. By combining liquidity pools and staking, Aura simplifies the process for users to participate and benefit from Balancer’s ecosystem.
Taking Balancer’s existing liquidity pools to new heights, Aura introduces a convex tokenomics model. The latter amplifies the incentives for all participants involved. This groundbreaking approach expands the possibilities of Balancer, pushing the boundaries of what can be achieved with liquidity pools. As Balancer progresses, Aura stands at the forefront, ready to reap the rewards of this symbiotic success. The platform has quickly emerged as the go-to choice for individuals seeking to generate liquidity or passive income due to its user-friendly onboarding process.
While Balancer has accomplished significant milestones, it still demands a deep understanding, especially for those new to the cryptocurrency space. Moreover, Aura streamlines this process by introducing auraBAL, a tokenized wrapped token. Users can stake auraBAL and earn rewards in both bbaUSD and BAL, doubling their passive returns through Aura’s innovative approach.
Should a user decide to discontinue staking on Balancer, they can easily convert their auraBAL tokens back to BAL before withdrawing their funds. This straightforward system has already gained widespread success, benefiting both users and liquidity providers on the platform.
At its core, Aura Finance is a community-driven system, with AURA tokens serving as governance tokens, empowering users to shape the future expansion and development of the project.
With the recent surge in the popularity of liquid staking derivatives (LSDs), meta-protocols like Aura Finance have gained significant attention.
AURA currently sits more than 50% below its ATH price.
Make sure to consider AURA’s on-chain data by utilizing Moralis page for that token:
Metacade (MCADE)
Metacade – an innovative GameFi project – offers a fusion of gaming and decentralized finance (DeFi). It allows users to unlock a world of opportunities to earn crypto income through a diverse range of DeFi services. Users can embark on their journey with four exciting avenues: play-to-earn (P2E), create-to-earn (C2E), work-to-earn (W2E), and compete-to-earn (C2E).
At the heart of Metacade lies its captivating collection of arcade games that not only entertain but also reward players with cryptocurrency. Whether you’re a casual gamer seeking fun or a competitive player aiming for major prizes, Metacade’s arcade games and thrilling tournaments cater to all skill levels. By participating, you can earn valuable rewards paid in the native MCADE token.
But Metacade goes beyond gaming. The C2E feature empowers the vibrant Metacade community to contribute and be rewarded for their input. They can share game reviews, offer valuable insights, or provide the latest updates about blockchain games to earn MCADE token rewards.
Additionally, Metacade supports staking, enabling MCADE token holders to earn passive yields on their long-term investments. Through staking, users can unlock a generous annual percentage yield (APY) that gradually accumulates over time.
Metacade started trading in April 2023 and currently sits more than 50% below its ATH price.
Do not forget to visit the Metacade page from Moralis and determine if the real-time, on-chain data agrees that it is one of the best DeFi projects to invest in:
Love Hate Inu (LHINU)
Love Hate Inu (LHINU) is a captivating cryptocurrency that has caught the attention of investors in the crowded DeFi market. While it shares similarities with popular meme tokens like Dogecoin, Love Hate Inu sets itself apart by combining memes with utility, making it a unique project in the crypto world.
One of Love Hate Inu’s standout features is its innovative staking mechanism, powered by smart contracts, which ensures a secure and tamper-proof voting system. Through blockchain technology, the voting process remains anonymous and verifiable, eliminating the risk of poll spam or manipulation.
Participating in Love Hate Inu’s voting system is both rewarding and straightforward. By staking your coins, not only do you gain the opportunity to vote in trending polls, but you also earn additional crypto in the process. Official voters have the added benefit of creating custom polls and earning rewards for their engagement.
Love Hate Inu started trading in May 2023, and its price finally found its bottom. Such a decline is not uncommon for tokens that launch outside of a bull market. So, if your own research confirms that LHINU has the potential to be one of the best DeFi projects to invest in, you might be able to get it at a highly discounted price.
Of course, also make sure to check LHINU’s on-chain activity using Moralis:
Well-Establish DeFi Projects to Keep an Eye On in 2023
The last bear market drove prices down for many seasoned DeFi projects. Thus, it might be worth examining these further since their low prices might be good entry points.
While they may not have the potential for 50x-plus gains, any of the following tokens could easily go on a 10x-plus run as the bull run hits. So, these are the best DeFi projects to watch for a possible investment if you prefer to stick to more seasoned DeFi coins:
- Synthetix (SNX)
- Aave (AAVE)
- Curve Finance (CRV)
- MakerDAO (MKR)
- Compound (COMP)
- Bancor (BNT)
- Uniswap (UNI)
- PancakeSwap (CAKE)
- GMX (GMX)
- PAX Gold (PAXG)
- Lido DAO (LDO)
What are the Best DeFi Projects to Invest In?
When it comes to determining whether upcoming DeFi projects or existing ones are worth your while, you need to follow these core steps:
- Visit the crypto project’s official website and whitepaper to learn what the project is all about.
- Explore the project’s socials to see if it has the power to go viral.
- Determine if you can legally participate in that project.
- Take a closer look at tokenomics.
- Consider the token’s current price and its price history.
- Use real-time, on-chain data to properly time your entries.
The above steps are covered in more detail in our Crypto Data Analysis article.
However, if you plan on utilizing the above projects’ DeFi services, especially the ones that require long-term commitment (staking), you ought to perform even deeper research on the team behind the project and the mechanics of the platform’s services.
Where to Find New DeFi Coins?
Before you can start applying the above-outlined steps, you obviously need to be able to find DeFi projects. When it comes to DeFi protocols and projects that have been around for a while, you shouldn’t have much trouble finding them. In such instances, CoinMarketCap (CMC) and CoinGecko are the best go-to explorers.
However, if you are wondering how to find new DeFi projects, the above two options usually won’t cut it. Sure, CMC and CoinGecko tend to list a new token rather fast but typically only days after it starts trading. So, by the time you can find new DeFi coins with these two explorers, they’ve already experienced their initial price rallies.
So, how can you find new DeFi projects as soon as they go live?
The best method is to use Moralis. This tool may not specifically indicate that you are looking at a DeFi coin. However, by simply clicking on a coin from various lists, you can find out in a second if it is a DeFi coin or not!
Let’s see how this works!
How to Find New DeFi Coins
This is the section will show you how to find new DeFi projects and any other altcoins that have the potential to go on a price rally. As such, you can think of the following tips as a Moralis quickstart manual!
Find New DeFi Projects and Coins with Moralis
Here’s how you can find new DeFi coins based on their on-chain or social activity:
- You want to generate your first dynamic list of altcoins with potential by selecting one of the premade filters:
- Start practicing applying unique search parameters via the following five-step process:
- Select a metric
- Select the metric’s filter option
- Enter a value for that metric
- Select the timeframe
- Hit “Run Query” to find a DeFi coin
- Get the best results by combining the power of multiple metrics:
- The Coin Age filter is the key when you are on the “how to find new DeFi projects” mission.
- If you also wish to limit your focus to alts with specific market caps, apply the Market Cap metric.
- Use metrics like Liquidity, Holders, Buyers, Experienced Buyers, and similar to target DeFi tokens and other alts that are gaining on-chain momentum.
- Experiment with various combinations of Token Explorer metrics, their values, and timeframes. Once you find winning queries, save them!
- To avoid scams, always consider the Token Shield feature’s security scores:
- If you’ve been wondering how to find new DeFi projects on autopilot, the Token Alerts feature is your answer. Simply use the following steps to set up email notifications for your saved queries:
- Look for DeFi opportunities beyond Ethereum:
- Find the best DeFi opportunities with the Morali Money Pro plan:
- You can also take Moralis Pro on a seven-day test drive:
- Once you see a coin on your dynamic list of opportunities generated by Token Explorer, just click on that token’s name. Then, you’ll access that alt’s Moralis page, where you can start analyzing the coin further. Here’s an example for one of the upcoming DeFi projects that’s also a meme coin: Volt Inu:
Upcoming DeFi Projects – How to Find New DeFi Coins – Summary
We covered quite a distance in today’s article. If you went through the above sections, you learned what the upcoming DeFi projects for 2023 are. You even had a chance to discover three specific projects that may deserve your attention.
We also shared some general guidelines to help you find new DeFi projects. Plus, you learned that you can find DeFi coins with CMC and CoinGecko; however, only after their initial pump.
Therefore, you ought to use Moralis to find the best DeFi projects to invest in as soon as tokens go live. Throughout the article, we even shared some core tips to help you get going with Moralis without breaking a sweat.
Use the power of real-time, on-chain data and find the best DeFi and other altcoin opportunities early!
Keep in mind that now’s the best time to get ready for the upcoming bull market. If you wish to learn more about Moralis, visit the Moralis blog. This is also the place to read more about some of the latest meme coins (VIRAL, NIHAO, WFAI, PSYOP, BIAO) and useful altcoin strategies.
