In the cryptocurrency world, decentralized finance (DeFi) tokens are among the hottest investment opportunities. Indeed, these decentralized finance plays provide a range of real-world applications to cryptocurrency users. With this in mind, some pretty intriguing DeFi token news is gripping the market today.
Today’s news centers on Grayscale, a crypto-asset manager, adding new tokens for its investment products. These tokens are primarily DeFi plays, suggesting Grayscale is placing a greater emphasis on this corner of the market.
Indeed, for crypto investors who have long focused on the applications the blockchain provides, this is good news. This appears to be a validation of DeFi tokens, at a time when crypto markets are in a state of uncertainty.
Accordingly, let’s dive more into this announcement and what it means for crypto investors.
The DeFi Token News Gripping the Markets Today
Today, Grayscale Investments announced the company is considering adding a number of DeFi tokens to its product family. As a subsidiary of Digital Currency Group, the parent company of CoinDesk, this is big news in the crypto world.
The company reminds those reading this release that it’s considering these tokens, but not all may be chosen. A variety of regulatory considerations as well as due diligence will need to be carried out before these are officially brought on board.
That said, the DeFi tokens the company is considering include the following:
- 1inch (CCC:1INCH-USD)
- Bancor (CCC:BNT-USD)
- Curve (CCC:CRV-USD)
- Internet Computer (CCC:ICP-USD)
- Kava (CCC:KAVA-USD)
- Kyber Network (CCC:KNC-USD)
- Loopring (CCC:LRC-USD)
- NEAR (CCC:NEAR-USD)
- Polygon (CCC:MATIC-USD)
- Ren (CCC:REN-USD)
- Solana (CCC:SOL-USD)
- Universal Market Access (CCC:UMA-USD)
- ox (CCC:ZRX-USD)
How many of these DeFi tokens ultimately make the cut remains to be seen. However, given the rather unpleasant situation in crypto markets currently, any news is good news for investors right now.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.