2024 is shaping up to be the year of DeFi projects. The financial sector has undergone a change and now several tokens are changing the face of the industry.
And from all the different possibilities in this article, you can check out a list of 10 of the best DeFi coins that will finally try to dominate the market.
This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.
10 Best DeFi Coins to Watch in 2024
The information shared in this article will help you take a detailed look at any project. That way, you’ll be able to thoroughly understand what it’s all about.
- KangaMoon (KANG): KangaMoon is a new star in the pre-sales sector of the DeFi market, quickly proving to be a force to be reckoned with.
- Avalanche (AVAX): Due to its scalability and low transaction fees, Avalanche is considered one of the main competitors in the DeFi ecosystem.
- Chainlink (LINK): Chainlink is a veteran in this field, and its decentralized oracle network continues to grow in influence.
- Uniswap (UNI): Providing liquidity to the DeFi market is what makes Uniswap so important.
- Internet Computer (ICP): Internet Computer has created a blockchain that can power smart contracts.
- Stacks (STX): Stacks deals with the implementation of smart contracts and decentralized applications in Bitcoin. They combine traditional Bitcoin with the DeFi market.
- Injectable (INJ): Injective Protocol is the first network to offer self-executing smart contracts.
- Lido DAO (LDO): Lido DAO helps users earn rewards by providing liquidity to decentralized financial platforms.
- Graph (GRT): Data collected on the Ethereum blockchain is reorganized by The Graph to power decentralized applications.
- Maker (MKR): Maker is the governance token of MakerDAO.
(KANG) – a rising star in the pre-sales sector.
KangaMoon (KANG) has a unique approach to DeFi tokens as KangaMoon will combine elements of Social-Fi and Play-to-earn (P2E). With KANG’s tokens in its upcoming P2E game, players can upgrade their characters, buy things in the store, and more.
This functionality puts KangaMoon ahead of most other DeFi coins. This is because owning this token doesn’t just allow users to watch matches or place bets. Users also get weekly, monthly and quarterly challenges to participate in. As a reward for their participation, they receive additional tokens and in-game items that can be sold on KangaMoon’s marketplace.
In its current second stage presale, KangaMoon has already raised nearly $200,000 in funding. DeFi tokens are being offered at the low price of $0.0075 each, which is 50% more than their initial offering price. However, some market analysts predict that even a 100x increase could be seen when premium centralized exchanges list Kang in the first quarter of 2024.
Avalanche (AVAX): An Uptrending DeFi Coin
Avalanche (AVAX) is undoubtedly a highly efficient layer 2021 network. This DeFi project started in XNUMX when the “Ethereum killer” narrative reached its peak. Since then, its price has continued to rise.
The Avalanche cryptocurrency is now trading at $42, a jump of 17% in just one month, as it rose from $34. Its market capitalization also increased from $12 billion to $15 billion during that time. Additionally, there are now 26 technical indicators showing green for the Avalanche. Thus, market analysts predict a potential rise to $51 within the second quarter of 2024.
Chainlink (LINK): A Bright Future Ahead
Chainlink (LINK) is a DeFi cryptocurrency for providing off-chain data to the blockchain. According to crypto analyst Michael van de Pope, oracle services like Chainlink are waking up. He also predicts that this DeFi coin will do well soon.
As for the value of the Chainlink cryptocurrency, it jumped from $30 to $15 in the last 20.3 days alone. Its market capitalization grew from $8.46 billion to $11.8 billion during that period. Chainlink’s technical analysis tells us that it looks quite bullish. Especially because of its trading above the 100- and 200-day EMAs. For all these reasons, market analysts predict that Chainlink will reach $25 within the second quarter of 2024.
Uniswap (UNI): a well-known DeFi platform
Uniswap (UNI) is a decentralized exchange or DEX. It has some of the most exciting DeFi projects in its ecosystem. When all the hype around DeFi happened, the Uniswap platform became famous and one of the most used DEX.
Uniswap’s price movement increased from $5.89 to $12.3 in the last 30 days. Its market capitalization jumped from $3.63 billion to $7.4 billion during that time. In addition, there are now 25 technical indicators in green. For this reason, cryptocurrency experts predict Uniswap to reach $15.31 within the second quarter of 2024.
Internet Computer (ICP): A unique blockchain network
The Internet Computer (ICP) is a blockchain platform that is reinventing the world wide web. The way it does this is by making smart contracts faster than ever before. This made the DeFi project very popular.
In the last month, the value of the Internet Computer cryptocurrency jumped from $12.07 to $13.4. During that period, Internet Computer’s market capitalization also jumped from $5.72 to $6.110 billion. Sentiment for this DeFi coin is bullish as 26 technical indicators are green. Therefore, experts predict that Internet Computer can trade at $17.32 within the second quarter of 2024.
Stacks (STX): STX: on a bullish wave
Stacks (STX) is an open source blockchain that anyone can use. The network combines the safety and functionality of Bitcoin with some new methods for creating decentralized applications on its platform.
The price charts of Stacks have recently been showing an upward trend as its value has increased from $1.45 to $3.07 in the past month. Stacks’ market capitalization grew from $2.20 billion to $4.43 billion during that period. With this fact, plus over 28 indicators in the green, experts predict that Stacks could reach $3.69 in the second quarter of 2024.
Injective (INJ): Combining AI and DeFi
Injective (INJ) is a one-of-a-kind blockchain that combines AI and DeFi. The network was built strictly for financial applications. This technology will create DeFi applications, including dApps for trading digital currency.
As for the price of Injective, it has been going up lately. In the last week alone, it has increased from $34 to $39. Its market capitalization also increased from $3.21 billion to $3.71 billion during this period. Additionally, 25 technical indicators are flashing green for this DeFi coin. Analysts forecast that Injective could reach $49 within the second quarter of 2024.
Lido DAO (LDO): A major component in the DeFi space
Lido DAO (LDO) is a DAO and has a liquid staking solution that is compatible with multiple platforms. Among them are the Ethereum 2.0 blockchain and others such as Solana, Polkadot and Polygon that use the Proof-of-Stake (PoS) consensus mechanism.
As for the price performance of Lido DAO, it has been in an upward trend recently. In the last week it rose from $3 to $3.32. During that time, its market capitalization grew from $2.69 billion to $2.96 billion. Thus, experts predict a jump to $5.13 for Lido DAO within the second quarter of 2024.
The Graph (GRT): Shows bullish signs
The Graph (GRT) is another open source protocol that aims to organize blockchain data. The protocol tackles all the big problems like request security, ownership, restructured chains, and more that can be solved with The Graph’s subgraphs.
As for the price of the coin, it has risen from $30 to $0.15 in the last 0.317 days. Its market capitalization also rose from $1.53 billion to $2.98 billion. Sentiment for this DeFi coin is bullish, with over 27 technical indicators in the green. Therefore, experts predict that The Graph will reach a value of $0.37 within the second quarter of 2024.
Maker (MKR): Changing the smart contract game
Maker (MKR) is a smart contract platform on the Ethereum blockchain. The DeFi project wants to solve the problems of volatility in cryptocurrencies. They plan to do this by developing a blockchain-based banking system. With it, their payments will become faster and cheaper, so they won’t have so many problems in the future.
On the price charts, Maker has recently been bullish. In the last 30 days, Maker’s price has risen from $1,935 to $2,079. Its market capitalization increased from $1.81 billion to $2 billion during that time. Additionally, investors are bullish on Maker as 29 technical indicators show buy signals. Therefore, they predict this DeFi coin to trade at a price of $2,974 within the second quarter of 2024.
What is a DeFi coin?
DeFi, or decentralized finance coins, are digital assets within decentralized financial ecosystems. Traditional financial services are what they want to dismantle piece by piece. With this new service, users have more control over their assets and DeFi middlemen are a thing of the past.
All DeFi coins do their own thing and each has specific goals within the decentralized financial landscape. With these tokens you can trade, borrow, lend and process mining. The vast majority of these projects were created on the Ethereum network. But more and more other blockchain systems are joining them.
Is it worth investing in DeFi coins?
Recently, decentralized finance has been in vogue, and the best DeFi cryptocurrencies have attracted many investors. But as in any sector, there is no guarantee that every project will do well. Here are some benefits that DeFi coins will provide.
Decentralization
DeFi coins change traditional networks by returning all control to the user. They provide an alternative that large financial institutions cannot monitor. With this advantage, you will get freedom from dependence on external parties.
Financial inclusion
DeFi is undoubtedly a game changer. The sector brings financial services to the masses – especially those outside traditional banking systems. With this level of inclusiveness, DeFi coins will gain popularity worldwide.
Countless applications
DeFi coins are used in many ways. This means that the future of DeFi looks bullish. With new opportunities in the crypto market, DeFi projects will change and evolve just like blockchain. The best thing about them is that they constantly adapt to meet all the needs of the market at any given moment.
Yield Farming and staking
DeFi projects make it easy for people to earn passive income. For example, activities such as yield farming and staking allow users to lock their assets to earn more tokens.
Final thoughts
In this article, you have looked at some of the best DeFi coins. One of the standout tokens that are included is KangaMoon. Those who join early can invest in KANG and earn tokens before its official launch by spreading the word about it on social media.
Discover the exciting opportunities of the KangaMoon (KANG) Presale today!
Website: https://Kangamoon.com/
Join our Telegram community: https://t.me/Kangamoonofficial
This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.
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