Decentralized Oracles For DeFi - The Next Big Thing In Crypto!

in hive-175254 •  2 years ago 

I am sure that all the people who are in crypto will be aware of ChainLink. It has been the best performing asset in the bear market and it continues to thrive. It has been hitting all-time highs day after day and it shows no sign of cool off. ChainLink is almost at a market cap of $400 billion with each Link costing $10.


What most people don't know about ChainLink is the tech behind it. ChainLink provides data from the real world to the blockchains with the help of oracles. ChainLink connects the outside world with blockchains in away. ChainLink is obviously the king of decentralized oracles but there are some new players in the market that have seen huge growth over the past week or so.

BAND Protocol

Band is the most popular decentralized oracle for Defi having a market cap of around $150 million. Now, this market cap is tiny when compared to ChainLink. There is still huge room for growth. Band is actually a first Binance IEO to be listed on Coinbase. It is on fire right now and probably will cool off and then continue its run upwards.


Teller is relatively older than Band and has been around since October last year. I have seen a few people mention this project but it never really took off until recently. It reached its all-time high of $22.10 just a few hours ago. It is not listed on tier 1 exchanges yet and once it gets listed, the prices might skyrocket. It has a market cap of just $28 million meaning the room for growth is huge.

DOS Network

DOS Network has been around for more than a year but nobody had heard of DOS until recently. This past month has been excellent for DOS as it has risen 30 times in value in the last 30 days. It is still in an uptrend and shows no signs of coming down. This decentralized oracle for Defi comes with a market cap of $27 million just behind Tellor.


DIA is my favorite project after ChainLink as it just came out recently and has a much lower market cap of just $18 million. DIA just hit the market yesterday and since then it has done almost 3x at price. To be honest, I have been waiting for this thing to correct a hit so that I can buy it but I haven't been able to do so just because it shows no signs of cool off.

I know of these five decentralized oracles for Defi and all of them have recently hit all-time highs. This niche is on a rise right now and we might see more gains over the next few months. Right now this niche is super hot everything related to decentralized oracles for Defi is rising in value. We have seen in the paoraclet similar projects can coexist, therefore, I believe that more decentralized orcale based projects will keep popping up.

This is not financial advice. These are personal thoughts and they are meant for information purposes only.DYOR before investing.

Download Brave and start earning BAT.


Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Hello friend, I am trying to understand better how DeFi works, thank you for sharing this information. How much is the minimum to invest in a project like this, from how much can I buy?

Investing in these projects is like investing in any other crypto.
You can start with any amount.
However, I would suggest you to wait for the cool off.
And more importantly, please do your own research before investing in any project.

This is a really good news for cryptocurrency because any advancements in cryptocurrency trading is good for cryptocurrency projects in general because of increased security, increased awareness, and hopefully brings new people into cryptocurrency

New people in crypto means gains for those who have been hodling. Blockchain is still in embryonic stages but if projects continue to impress with good tech, blockchain might mature soon enough.

I must confess I've known about DeFi for some time now. But I've seen that everything related to this is going up fast. There are so many things that one can lose, it causes to have a lot of money and be able to make good investments in some good projects, sure that those who are aware of these things and have to invest, are doing it. Thank you for this information @syedumair.

You are right.
Any project that announces they are doing something in Defi space, pops up in value. This means that people still invest blindly. I hope that this changes soon.

Yes, because actually DeFi is very promising, but it doesn't mean that all the projects have a good support, however, those things happen... let's see what happens later.

What is cool with Band is you get around 17% of staking reward!

I wasn't aware about Band staking. Thanks for the info.
If Band gives 17% on staking, that is really cool.

Good read.
I am going to stake my band on AW.

It is worth it if you have evaluated your risk.

@syedumair defi projects care doing good in current cryptocurrency market we will see more to come from the defi projects we just need to wait and watch.

There's actually no doubt that Defi project is really gaining more attention in the crypto space and this is why I have am getting more interested in Defi coins.

Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead