There are almost 8,000 tokens on the crypto market. It is difficult to understand which one of them can bring a serious profit in the long run, but there are chances for it. It is very important to pay attention to a number of signs that distinguish a project with great potential from a pacifier

Choosing a promising cryptocurrency for investment purposes can bring enormous profits in the future. The decentralized finance (DeFi) sector proved this in 2020. Projects belonging to it have shown a multiple growth of value in a short period of time.

This is especially true for startups that develop oracles – special mechanisms that allow the blockchain to read data from the outside world. For example, the price of the ChainLink (LINK) token has risen 540% since the beginning of the year, to $11.6, momentarily climbing above $19. A competitor project, Band, showed an even greater increase. During the same period, the token rate rose by 2,600%, to $6, exceeding $15 at the beginning of September.

To catch such growth, it is important to identify a promising cryptocurrency in advance. This can be done by relying on key attributes. Industry representatives told how to identify a successful project and how much to invest in it.