Top DeFi Cryptos to Watch in December 2025
Investing in DeFi: our advice
DeFi is decentralized finance: a set of financial services available on the blockchain. These protocols allow you to borrow, exchange and invest funds, in the form of cryptocurrencies, without going through intermediaries such as banks. This is done autonomously and securely thanks to computer programs. DEXs,
The decentralized platforms that we believe represent the best alternatives for investing in DeFi.
Aave: lending and borrowing, on the blockchain
Interface regarding the Ethereum blockchain on Aave
Aave is today one of the leaders in DeFi. Its major functionality concerns decentralized lending and borrowing. Indeed, this platform allows users to lend or borrow dozens of different cryptos, on many blockchains.
In our opinion, Aave has the necessary ingredients to continue to establish itself as a major player in DeFi. Its approach, based on constant innovation (as well as transaction security), is already maintaining a significant hype. For example, Aave was the first platform to offer “flash loans”. Even if loans were already widespread in the crypto sphere, the idea of being able to borrow very quickly, but above all without collateral in return, is clearly revolutionary. Especially for people who carry out arbitrage or refinancing operations.
In summary, Aave is, in our opinion, the preferred solution for the search for passive returns (lending, staking, etc.). We regret its complexity in some respects, which could initially put off beginners. Also, the high transaction fees at times can make certain arbitrage strategies or investments of too small amounts obsolete.
So here are, in our opinion, the pros and cons of Aave.
✅ Positive points about Aave:
Flash loans, very secure and allowing you to borrow without locking up any collateral,
Wide range of cryptos available for lending (as a lender or borrower),
Very secure protocol,
Competitive returns,
Great opportunities, especially with yield loops (borrowing against a deposit, then re-depositing the loan, and so on)
Opportunity to participate in governance,
Good liquidity.
❌ Negative points about Aave:
Can be complex for beginners,
Sometimes high transaction fees, especially when it comes to Ethereum.
Uniswap: the historical DEX par excellence
Swap interface, i.e. exchanging one crypto for another, on the Uniswap DEX
If you’ve ever traded tokens in a decentralized manner on the Ethereum blockchain, chances are you’re familiar with Uniswap. It’s the largest DEX by volume and one of the oldest protocols in DeFi.
Uniswap is a Dex, completely decentralized, that has revolutionized the way users bring (and obtain) liquidity to the market. In particular via the famous liquidity pools, introduced by Uniswap. The latter now also allows staking, participation in liquidity pools (market making), exchange and send tokens to other addresses, carry out transactions on NFT, etc.
This is therefore a central place in decentralized finance, and a must-have in our opinion. Especially since Uniswap recently introduced limit orders, which was lacking in decentralized exchanges until then. Indeed, large transactions, on tokens whose liquidity was not abundant, created unwanted slippage, which is no longer the case with this feature.
In summary, here is what we think of Uniswap:
✅ The advantages of Uniswap:
One of the largest selection of cryptocurrencies in the world,
No registration required, no KYC,
100% decentralized protocol,
High level of liquidity, very large trading volumes,
Easy to use.
❌ Disadvantages of Uniswap:
High transaction fees on Ethereum, although this is gradually decreasing,
The UNI token is not natively remunerated (governance token). It remains eligible for staking or certain liquidity pools.
Curve Finance: the solution focused on stablecoins
Curve Finance the stablecoin-centric solution
Curve Finance's somewhat complex interface for beginners
Curve Finance is today the go-to DeFi solution when it comes to stablecoins. Especially if you have significant assets, work for an institution, or simply want to transfer and convert large quantities of stablecoins between them.
Even though Curve allows the exchange of other cryptos including Bitcoin, the fact that this platform specializes in stablecoins allows it to solve the problem of impermanent loss (price fluctuations of tokens placed in liquidity pools). And also, to offer more reasonable fees than those of Uniswapp.
In summary, Curve allows you to trade large volumes of stablecoins without the slippage that can be experienced on other platforms. We also appreciate the stability and competitiveness of the returns for users who provide liquidity.
We only regret the apparent complexity of Curve, which unlike Uniswap does not encourage beginners to engage in DeFi transactions.
Curve Finance.
✅ The advantages of Curve Finance:
The best fees on the market for swaps between stablecoins,
The effectiveness of the protocol in minimizing slippage.
The attractive (and stable) returns of liquidity pools,
Ability to participate in liquidity pools with the CRV token,
Platform specialization: we know why we use Curve,
Opportunity to participate in governance.
❌ The disadvantages of Curve Finance:
Complexity: the site is clearly indigestible for beginner users,
Limited supply in terms of cryptos: only a few assets, and stablecoins.
Eigenlayer: so that your tokens generate several different yields
Eigenlayer, the innovative decentralized platform that allows re-staking, to generate additional passive income
Eigenlayer is a must-have Ethereum solution today, for staking enthusiasts, or rather re-staking / liquid staking. The use cases are also countless for ecosystem developers and validators, and considerably change the efficiency of protocols.
From the point of view of the individual investor, this protocol will allow you to stake already staked tokens. You will therefore be able to use these funds to generate additional income by bringing your cryptos to other networks for their security. Thus, via a single ETH staking, you could diversify your income streams by participating in several protocols that have chosen the security of Eigenlayer.
This will also make it possible to support innovative projects via your re-staked ETH. You could therefore expose yourself to new technologies, while being rewarded for the security you provide. All while benefiting from the flexibility of Eigenlayer. The advantage: with “one line” of your DeFi wallet, you can take part in many protocols, which simplifies its management.
Furthermore, the points system set up to maximize your chances of receiving airdrops is a great opportunity to generate passive income (via retaking, network participation, etc.).
Today, Eigenlayer boasts a TVL (amount of assets deposited into the protocol) of over 12 billion, which is a testament to its strong success for such a young token.
So, here's what we think of Eigenlayer:
✅ The advantages of Eigenlayer:
Being able to take advantage of Liquid Retaking, this innovative technology to generate more passive income,
Increased security thanks to technology for penalizing “low quality” validators,
High TVL, which supports network security, and proves the quality of the protocol in view of its adoption,
Recent launch (October 2024) of the EIGEN token, which could be very successful given the general sentiment.
❌ Disadvantages of Eigenlayer:
Somewhat complex protocol for beginners.
Protocol risk, and therefore blocking of funds (unlikely, but zero risk does not exist).
Pendle: Tokenize Your Future Returns
Pendle, to tokenize and reinvest its future returns!
Within the DeFi ecosystem, Pendle offers quite unique opportunities in terms of revenue optimization. This is due to its technology for tokenizing future returns. The major advantage of this protocol is very simple: it allows you to capitalize immediately on future returns.
In practice, if you stake a yield-generating asset, Pendle will split the transaction into two tokens:
Principal token (PT): These are the assets themselves.
Yield token (YT): these are the future yields, tokenized.
You could thus sell your Yield tokens to obtain immediate liquidity, while keeping the PT which guarantees you a nominal value at maturity.
In addition to this immediate liquidity, Pendle allows you to speculate on possible higher future yields: you can also buy YT at a discount if you think yields will be higher in the future (which would cause a revaluation of the tokens). We find here, in a way, the philosophy behind options (call/put) in traditional finance, whose value is proportional to the gain made in the event of exercising the option.
In summary, if you combine Pendle with other DeFi strategies (Yield farming for example), you could optimize and maximize your income in a planned manner, or even protect yourself from a drop in yields by selling your YT.
Here are, in our opinion, the pros and cons of Pendle:
✅ The advantages of Pendle:
Unique opportunities related to the tokenization of future returns (speculation, protection against a drop in rewards, optimization and planning),
Investment strategies combinable with other DeFi protocols,
Powerful Pendle secondary market for reselling reward tokens (YT),
$PENDLE token resilience and performance.
❌ Pendle Disadvantages:
Still has to assert itself against the DeFi giants,
May seem complex for novice users.
dYdX: for trading derivatives in a decentralized manner
dYdX, the pioneering decentralized platform for leveraged trading
If you’re used to trading on CEXs, and the myriad of features these platforms offer, you may be a little unimpressed about the idea of switching to decentralized alternatives. And indeed, before dYdX, the DEX landscape offered quite limited options in comparison.
But this increasingly important player in the DeFi sphere has come to fill these “gaps”. Indeed, this DEX specializes in perpetual derivatives and margin trading. In other words, it is suitable for those who want to expose themselves to the crypto market with leverage (up to
Thanks to its use of Ethereum's second layers (StarkWare), dYdX is now able to offer more competitive trading fees than a centralized player like Binance, and allows the implementation of elaborate strategies, scalping or even high-frequency trading.
dYdX also offers:
Staking and rewards mechanisms, via the DYDX token,
A lending module, to also generate passive income,
Participation in governance.
So here's what we think of dYdX:
✅ The advantages of dYdX:
Decentralized alternative for derivatives trading,
Leverage for experienced users (up to x20),
Significant liquidity,
Competitive costs thanks to the StarkWare scaling solution,
Opportunity to take part in governance.
❌ The disadvantages of YdX:
Complex interface, reserved for advanced and experienced users.
See our review of DYDX.
GMX: For experienced traders
GMX, the other decentralized alternative to gain exposure to the market with leverage
We wanted to introduce you to this slightly more “niche” platform. First, GMX is a DEX. Much less known than heavyweights like Uniswap, SushiSwap or PancekeSwap, this platform focuses on trading perpetual contracts. In other words, using GMX, you could expose yourself to various cryptos with leverage, but in a completely decentralized way.
Being able to trade by connecting a wallet to a decentralized platform brings new opportunities:
Leveraged trading: you can expose yourself with leverage of up to x100, without going through centralized platforms (spot trading also available),
Passive income: if you buy GLP tokens (an “index token” grouping several assets such as BTC, ETH, USDC), you bring liquidity to the ecosystem, and are rewarded via shares of trading fees, while benefiting from the returns of the underlying assets,
The only downside: the fairly negative performance of the GMX token, but you are not obliged to hold one to trade.
So here's what we think about GMX.
✅ The advantages of GMX:
Ability to trade cryptos without depending on a CEX, without KYC, etc.
Trading with high leverage, for experienced traders or certain hedging strategies,
Competitive fees,
General reliability and robustness.
❌ Disadvantages of GMX:
Decrease in token value,
Not suitable for beginners (leveraged trading is dangerous),
Few features outside of trading and participation in the protocol via the GLP token.
Raydium: for memecoin fans on Solana (and beyond)!
Raydium for memecoin fans on Solana
Raydium, the Solana DEX, to trade, stake, and benefit from the Solana ecosystem
You may be familiar with this exchange, if you have participated in the fever of memecoins (and shitcoins) launched daily on Solana. Raydium is a DEX built on this blockchain, which makes it a fast and low-cost platform. Here are its main features:
Trading: you will be able to trade most of the tokens launched on the Solana blockchain, instantly and with very low transaction fees. This therefore allows you to make frequent trades, or transactions of small amounts,
Liquidity providing: you can provide liquidity to certain trading pairs, and receive rewards in return,
Yield farming: tokens received through liquidity providing are staking, to receive new yields in the form of RAY (Raydium's native token). These protocols, combined, therefore allow a double reward!
Staking: RAY tokens are, in turn, also staking! You could therefore generate a third fringe of returns, and potentially benefit from the appreciation of the RAY token.
Other features are also available, allowing you to participate in project launches via the AcceleRaytor module, for example.
So here's what we think about Raydium.
✅ The advantages of Raydium:
Low costs,
Immediate transactions,
TVL has been growing steadily since the launch of Raydium,
Many features (trading, staking, yield farming, etc.).
❌ Raydium disadvantages:
Dependence on the Solana network,
Less liquidity than major DEXs like Uniswap,
Lack of perpetual trading functionality on major tokens (Solana, Bonk, WIF, Jupiter, etc).
Investing in DeFi: our advice
The least we can say is that DeFi is a constantly evolving ecosystem. This implies unique opportunities, but also significant risks. Here are, in our opinion, the essentials to know before getting started in DeFi.
Getting your hands on centralized platforms
This may seem trivial, but when it comes to cryptos, mistakes happen quickly. And are often immutable, once the funds are lost. The best thing, as a beginner, is to gain some experience on centralized platforms like Coinbase, which offer more affordable interfaces than their decentralized equivalents. And this to familiarize yourself with spot trading, deposit/withdrawal addresses, or even staking, which is managed more intuitively on centralized exchanges.
All that glitters is not gold: beware of tempting promises
The returns offered by DeFi are not comparable to those offered by your banker. However, you should do your research before connecting your wallet. And this for two main reasons:
Often, these returns are expressed in “annual equivalent”, but are only offered over a few days. And on some blockchains like Ethereum, you have to stake large amounts to make the transaction fees profitable over such a short period.
Second, crypto is full of scams of all kinds, and DeFi is no exception. Before connecting your wallet to a site, always check its legitimacy. A good tip can be to consult the official X account (Twitter) of the token in question, to be sure of the address you are on.
Attractive returns, but beware of other variables
As we said, some returns are the stuff of dreams within the DeFi ecosystem. But they are, most of the time, paid to you in protocol tokens. And between the time you lock your funds and the date of release, they can very well lose 80% of their value. You may well receive an “attractive” return, but it will not be worth much in such a case.
Defi Transactions: Don’t Rush
First of all, to operate on the many blockchains, you will need to choose the wallets that will host your funds. You will then need to familiarize yourself with the DeFi environment, its transactional processes, the addresses to copy / paste, etc.
And here, it is better to check everything several times, and not to rush. At the slightest error, your funds will be lost forever. To give you an idea, between 20% and 25% of the total supply of Bitcoin (BTC), is lost forever. A significant part of these inaccessible Bitcoins is because of a sending to an incorrect address…
Top DeFi Cryptos to Watch in December 2024
With decentralized finance being a constantly evolving world, it’s hard to come up with a list of the best DeFi cryptos. Here are some of the cryptos that we think are among the most promising for this cycle (in addition to the protocols mentioned above):
Ethereum (ETH)
Capitalisation/FDV (€) 267 Mds
TVL (€) 45.8 billion
Blockchain Ethereum
Ethena (ENA)
Capitalisation/FDV (€) 723 M / 3,95 Mds
TVL (€) 2.3 billion
Blockchain Ethereum
Your Corner (TON)
Capitalization/FDV (€) 13 billion / 27 billion
TVL (€) 405 M
Blockchain Ton Chain
Synthetix (SNX)
Capitalisation/FDV (€) 424 M
TVL (€) 250 M
Blockchain Ethereum / Optimism
Radiant Capital (RDNT)
Capitalisation/FDV (€) 72 M / 96 M
TVL (€) 82 M
Blockchain Decision
Of course, a potential investment in any of these cryptos carries significant risks. The price of cryptos is influenced by many variables, and it is impossible to guarantee a return or growth.
In any case, it is important to apply the principle of DYOR (Do Your Own Research), in order to verify each piece of information, and to evaluate for yourself the risks that you are prepared to take.
Ethereum: the central marketplace of DeFi
Most of the major DeFi innovations rely on Ethereum’s security. It is the pioneer blockchain for smart contracts, and to date the one with the highest TVL.
We believe that the move to Ethereum 2.0, and its new Proof of Stafe architecture, will continue to drive its adoption, and its central place in DeFi. Furthermore, we believe that its extreme compatibility is what makes Ethereum a prime location for the development of new protocols, each of which brings new features and, by extension, locked capital. Which, combined with its deflationary supply, should increase ETH’s valuation.
Ethena, the new stablecoin that is causing havoc
Ethena is an innovative algorithmic stablecoin, which uses perpetual contracts in its stabilization mechanism. It solves many of the problems encountered by traditional stablecoins, such as centralization, or the need for reserve assets.
By bringing more decentralization to the stablecoin universe, Ethena is well positioned to become a key player in DeFi, especially for users looking for alternatives that are resilient to market shocks (the main danger for stablecoins). Today, Ethena is in the “top 100” cryptos by capitalization, and rises to fourth place among stablecoins.
Furthermore, placing your ENA in staking or in DeFi protocols can be a good idea to generate passive returns (in order to avoid the effects of inflation, as the price of stablecoins does not change).
Toncoin: investing in the power of Telegram
Here, we are playing the adoption of this blockchain by a massive community: Telegram users (who number more than a billion). The potential for mainstream adoption of DeFi is massive, and complemented by the quality of the TON blockchain.
It is indeed a very fast, scalable network, and can be used for micro-transactions within the Telegram app. So here we have a mix between decentralized finance and instant messaging, two booming sectors. As proof, Toncoin's entry into the prestigious "top 10" cryptos by capitalization.
Synthetix: investing in the stock market… via cryptos
The concept of Synthetix is simple: create synthetic assets to replicate the performance of real-world assets (currencies, commodities, stocks, etc.).
It is therefore a bridge between decentralized finance and traditional finance, all tokenized, with the reliability of Ethereum, and the speed of Layer 2 Optimism. The advantage: access these assets in a decentralized manner, without intermediaries, brokers, etc. The available derivative products are increasingly numerous. We believe that this type of gateway will be increasingly in demand in the future, as a growing number of consumers choose to opt for a decentralized approach to their investments.
Radiant Capital: DeFi, yes, but multichain!
Radiant’s usefulness lies in its new approach to lending: here, you can lend and borrow via multiple blockchains, within the Radiant platform. The argument is therefore simple: there is a premium on interoperability in the crypto sector. Thus, users tend to appreciate solutions that do not confine them to a single blockchain.
RDNT therefore offers fluid “cross-chain” liquidity, responding to a growing demand in this area. This protocol therefore allows its users to benefit from the advantages of several blockchains simultaneously.
