TOP DEKENS AAVE, LDO, CURV and UNI SURGE – Here’s the next online

DEFI tokens have a moment. In addition to being a high game on Ether, which jumped 73.19% in the last three months to negotiate $ 4,664, expectations increase for a large influx of capital in the sector at the rear of the Genius giving stablecoins the fully clear regulations.

To date, $ 156 billion in assets is locked in various protocols DEFI like Aave, Compound, Uniswap and others. But with the stalins now strengthened – the secretary of the Treasury Scott Bessent says that they can develop from their current base of $ 270 billion at More than 3 dollars by 2030 – Industry analysts expect the use of these protocols to increase while token holders are looking for a passive return on their assets.

This story is an extract from Bits + Bips Newsletter.

Things could become even more frothy if the rate of American federal funds is starting to drop later this year, as expected, because it makes the yields defined more attractive than the ostensibly without risk rate offered by American treasury bills. “An interesting phenomenon is that if there are rate drops in Tradfi, the crypto credit differences and that onchain yields generally widen because it increases risk assets,” said the CEO of Maple Finance, Sid Powell, in a recent episode of Podcast bits + bips of Unchained. “If the borrowing rate on Bitcoin increases, the yield you can get in the waves increases.”

Read more: Stablecoin blockchains arrive. Here is why these two giants should be nervous

But everyone in Crypto knows the superior tokens like Aave, Uni, Comp and CRV. And they are probably ready to develop while investors for the first time come in addition to their sparkling in recent months. “At this very early stage, everything must be considered in the radar from the point of view of the wider community of investors,” said Zach Pandl, research manager at Grayscale Investments, in an interview.

This story is an extract from Bits + Bips Newsletter.

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But there are other tokens who hide that the initiates of the industry say that it is worth paying attention as the market enters the end of 2025.

Ondo – Yield

A characteristic, or perhaps a flaw, in the act of genius, depending on where you are, is its Prohibition to share the yield generated by stablecoin guarantees With real jettals. This has led investors to seek other ways to create this additional flow of income.

A popular method is to buy tokens that invest in real world assets, such as treasury bills, which can exist on onchain and be used for collateral trading or as a means of exploiting a business treasure. According to Rwa.xyz$ 6.6 billion in US treasury bills were issued. Some of these Tokenized Treasury Bonnes are used by traditional asset managers like Blackrock or Franklin Templeton. But others are issued by DAOs, like Ondo, who has $ 700 million in treasury vouchers under management in his Ousg token (some who are supported by Blackrock’s Buidl himself in a next friendly flag) and $ 688 million in his stable coin with USDY yield.

But here’s why he could fly under the radar. He actually beats one of his biggest competitors, Ethena, who operates a similar stablecoin that has been called USDE in terms of active and new users.

“I think that Nail will go up, but there is a race between Ondo and Ethena. Each indigenous cryptography platform I speak is including Ethena for better yields.”

Morpho and Euler – Defi loans

Anyone who has followed Crypto for a long time will know the first -rate loan protocols like Aave, Compound and Curve.

The CRV increased in particular after promoting the Act on Engineering on July 18 due to its positioning as a major challenge protocol to exchange stablecoins. On the other hand, Aave and Comp have seen a deeper growth.

Each analyst to whom I spoke suggested that the two have more room to develop, but that two projects that deserve special attention are Morpho and Euler. Morpho has $ 6.22 billion in TVL and increased 24.89% in the last 30 days, rushing only in terms of main Defid loan protocols inherited during this period. Euler has not experienced the same level of growth in the last 30 days, but it has an impressive increase of 17.4% in the last seven days, showing a significant new momentum.

Morpho is particularly interesting because of his link with the Apollo investment giant on a structured credit fund, something I wrote for Unchained In May 2025. The analysts with which I spoke suggest that he could position themselves as a wider RWA platform.

These two tokens could offer attractive entry points for investors, in particular compared to a few other DEFI tokens which also make noise. Spark (SPK) is the indigenous governance token for the sky -based loan protocol protocol. As demonstrated in the table above and the table below, it has experienced spectacular growth in terms of price and TVL. However, the token was only launched in June, and like many new assets, there is a lot of volatility in terms of price movement compared to air agriculture and other increasing pain when leaving the ground. The asset is in the middle of a substantial rise of an artificial summit at the end of July.

Read more: Defi Looping comes to the Credit Fund of $ 1.3 billion in Apollo. What could go wrong?

Justlend (JST) is a loan -based loan protocol whose price continued to suffer despite heavy entries. The Blockchain Tron is in an interesting position at the moment because of its Secretly high fees for sending stable transactionswhich explain most of the activity on its network, making it vulnerable to the new stablecoin channels launched by tastes of Tether and Circle. Questions about the level of decentralization on Tron could also make the blockchain less attractive for institutional users looking for an exposure to definition.

Find out more: Tron is now more expensive than Ethereum. Will this harm Justin Sun’s new company?

Finally, Maple (syrup) is another token to look at which has experienced expansive growth, but at the same time, its token performance has far exceeded Morpho and Euler, especially when they look in the past six months, which makes it more sensitive to a withdrawal.

Reasons of prudence

Invariably, when investors are looking for more return, there may be additional risks compared to Blue Chips that have existed for years.

“I think that established defi players have an advantage in the sense that there is a large barrier to prove that you are safe and that you can trust yourself,” said Carlos Guzman, vice-president of research at GSR. “The more you are there, the less likely you are to undergo an intelligent contract attack because your protocol has proven to be resilient, and it has undergone several audits.”

For example, Euler suffered a Major hack in March 2023 This saw the project lose nearly $ 200 million in crypto.

And it is not only security that can be problematic. In the past, Ondo had to face the concerns Economy of tokens that promotes initiatesAnd an expert with whom I spoke for this article on condition of anonymity feared that the costs won by Ondo (0.15% – which will not start before October 1, 2025) are relatively small and do not reinforce the value of the token of Ondo itself. However, he recognized that many major cryptographic assets, XRPtend to negotiate more on the feeling than on solid fundamentals. And if nothing else, Ondo has a strong brand value on the tokenized treasure market.

It is important to keep these additional considerations in mind when looking for an additional return, while remembering that cryptographic investors still see a lot of space to develop for the active ingredients of the first program.

“People will look for protocols DEFI to get a lever effect. And as the market is doing well, the bullish feeling pushes people to look for more leverage, “said Guzman. “Thus, this increases the TVL of borrowing / ready -made protocols for example. It also increases volumes in decentralized exchanges.”