DeFi Coin is one of the top new cryptocurrencies to keep an eye on in 2022. DeFi Coin, as its name suggests, is the native currency of the recently launched DeFi Swap exchange and has a presence in the quickly expanding decentralized financial industry. This DEX offers some of the finest DeFi interest rates on the market while allowing users to trade, yield, and stake a variety of tokens.
Since DEFC is an integral part of the DeFi Swap exchange, the development of the platform directly affects the token's value. This was seen in May when the token's price skyrocketed by more than 300% in a single day after the eagerly anticipated debut of DeFi Swap. DEFC quickly established itself as one of the top DeFi currencies available for speculative investors due to the exchange's numerous use cases.
DeFi Coin's 'static rewards' scheme is another factor that has helped it stand out as one of the greatest new cryptocurrencies this year. Every time someone buys or sells a DEFC, this system imposes a 10% tax, with half of the revenues being promptly paid back to the remaining DEFC holders. In the end, this generates a consistent source of passive income and gives someone an incentive to stay onto DeFi Coin for a long time.
The DeFi Coin team is already working on a number of fascinating future projects, such as 'DeFi Swap V2,' which aims to expand the exchange's functionality by including technical analysis, webinars, and other services. Additionally, the team is developing a mobile app that will enable users to trade tokens and make yields while on the road. Finally, considering that the DeFi Coin Telegram channel already has over 10,000 members, the token's support from the community may be crucial to its future development.
Although the cryptocurrency market is clearly a tumultuous place right now, these currencies continue to be in great demand and might quickly recover once this negative phase is finished. As the overall market capitalization of all cryptocurrencies has risen back above $1 trillion, the market is again exhibiting indications of recovery.