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The Daily Hodl
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Multicoin Capital Co-Founder Names Top Ethereum-Based DeFi Asset to Hold for Next Two Years

by Daily Hodl Staff
August 24, 2020
in Altcoins, Mining, Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
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Kyle Samani, co-founder and managing partner of crypto and blockchain investment firm Multicoin Capital, is revealing his pick for the single best Ethereum-based decentralized finance (DeFi) asset to hold for the next two years.

Samani tells his 37,000 followers on Twitter why Aave (LEND) is his top bet among DeFi platforms.

“If I had to hold a single Ethereum based DeFi asset for 2 years, it would be AAVE. By far the best combination of product/market fit, token distribution, community, pace of innovation, and reasonable valuation with upside to go”

Aave is a small-cap crypto asset that allows depositors to generate interest by contributing liquidity to lending pools. Borrowers rely on the liquidity pools to get collateralized loans. According to Binance, Aave supports over 15 different digital assets including a wide array of stablecoins. 

Earlier this year, Aave started to offer flash loans, which enable developers to borrow without putting up collateral.

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Spencer Noon, head of investments at DTC Capital, is also bullish on LEND due to its robust fundamentals.

“One of the best signals of PMF in DeFi is if a project can succeed w/o extra incentives (liquidity mining). @AaveAave doesn’t have LM yet it’s still one of the biggest beneficiaries of new yield farming activity. At $1.26B TVL and only $759M market cap – the fundamentals are so strong.”

Aave is currently up over 260% year-to-date according to CoinMarketCap.



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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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