News
Top DeFi coins that could increase 5x in the next few weeks
The cryptocurrency market performed better than expected in April, with a large portion of March’s gains reversed. Many cryptocurrencies suffered huge declines, with Bitcoin returning to $65,000 after hitting $73 in the previous month. Even the much-hyped Bitcoin halving did not lift the mood as many tokens were looted and thrown down the drain.
However, the good time is coming and the cryptocurrency market will rebound. While waiting for the bull moment, this moment of decline represents a huge opportunity to buy solid tokens at a low price. With an impressive track record of performance, the following tokens are expected to rebound throughout the month, reverting to March highs. Looking at their fundamentals and growth potential, KangaMoon, Aave, Jupiter, Injective, and The Graph are some of the best DeFi projects to take a look at.
Kanga Luna (KANG)
The evolution of DeFi tokens has reached a new level with KangaMoon (KANG) bringing a new spectrum of innovation. KangaMoon is designed to be a game changer in the gaming market by combining elements of gaming to earn and social interaction into a standalone DeFi token. Not only does KangaMoon have actual utility that sets it apart from others, but the token is also community-driven with high-stakes members.
The KangaMoon ecosystem includes DeFi, NFTs, and a gaming battle arena. Players earn massively through in-game battles that take place every week, month, and quarter of the year. Therefore, there are many rewards available to win. Approximately 150,000 KANG tokens are awarded as rewards for success in the game with another 100,000 tokens reserved for prizes and freebies.
The platform has already signed up participants exceeding 20,000 and more than 6,000 holders and is currently on track to raise $7 million in pre-sales. Likewise, early buyers have made a whopping 290% profit, with the current selling price of $0.0196. However, KangaMoon’s potential far exceeds its past achievements. For example, the token has a high share in the NFT market, poised to hit the $200 billion industry.
With such a promising future, now is the best time to jump into the KangaMoon project. As the project moves to the next phase – token listing – new investors can be part of a growing ecosystem with the ability to return 5x ROI in Q2 2024. By all standards, KangaMoon projects the future of gaming DeFi and investors should quickly add this DeFi token into their wish list for huge growth in 2024.
Aave (AAVE)
The next token on our list of best DeFi coins is Aave. Launched in 2017, Aave is the leading lending and borrowing protocol, projecting the future of decentralized finance. In the bull run of 2021, Aave’s price has been a force to be reckoned with, reaching an all-time high of $666. With a rich history as a DeFi protocol, Aave’s robust community is an added advantage that could shape its direction in the next months.
While the market is down, the Aave community fervently projects the protocol’s image with innovation, partnerships and updates. Key events such as the early approval of the Ethereum ETF are also expected to trigger a massive rally for the Aave coin in the bull market.
Meanwhile, Aave’s trading volume and market capitalization saw a massive increase in the last few weeks before the market retracement. With growing interest in the Aave protocol from developers, users and enthusiasts, Aave’s price could reach $200 in June, making it one of the top DeFi coins to watch.
Jupiter (JUP)
Jupiter is one of the most powerful Solana-based DeFi protocols and serves as a liquidity aggregator for many platforms. However, Jupiter has gone beyond an aggregator platform, incorporating a number of features such as DEX aggregator, Dollar-Cost Averaging (DCA), and future trading into its features. Jupiter’s prospects project it as one of the best DeFi cryptocurrencies that is expected to be massively accumulated.
In Jupiter’s latest news, the platform is planning to develop a stablecoin that can rival the two renowned stablecoins USDT and USDC. The proposed stablecoin, SUSD, will be fully supported by the Solana ecosystem and is intended to be more decentralized and interest-free. With this move by Jupiter, the future of the token is assured. As this breakthrough innovation is developed, Jupiter will see greater adoption which could pave the way for a huge increase in its token price.
Meanwhile, Jupiter market sentiment over the past 90 days has been positive. From a price of $0.50 in early March, Jupiter’s price rose to $1.79 in early April. The surge pushed Jupiter’s market capitalization past $1.5 billion. With the latest news on Jupiter, the token could break its ATH record in the coming weeks. A rally to $5 is expected this month.
Injective (INJ)
Another token that investors should accumulate on this dip is Injective, an interoperable layer 1 blockchain that powers the next generation of apps. The Injective network offers a number of services including derivatives trading, lending protocol and more. Injective provides basic financial services, incorporating all types of financial markets such as spot, futures, perpetuals and options into its on-chain programs. Injective thrives on a fast, fully decentralized, cross-chain financial structure, allowing developers to build DeFi applications.
Although the Injective price has fallen over the past month, there are high hopes that it will rise in the coming weeks. Despite the market turmoil, Injective’s trading volume has seen massive growth, indicating that INJ is gaining traction among holders. With the current trend of tokenization of real-world assets, Injective is a leader that is taking advantage of this trend. Projecting the future of decentralized finance, INJ is one of the DeFi cryptocurrencies that will rise soon.
The graph (GRT)
Graph is the latest in the list of decentralized cryptocurrencies and can be a good investment for investors who buy during bearish periods. The network is used to index and query data for different blockchains. What sets The Graph apart is that it allows anyone to create and publish an application programming interface (API) using the GraphQL query language. As such, it delves into DeFi and Web3 application development, allowing developers to create highly scalable web apps.
As one of the protocols compatible with Ethereum, the approval of the Ethereum ETF could trigger a turnaround for the GRT token. The chart’s market capitalization is over $2 billion, indicating that there is absolute growth potential domiciled in the token. With broad expansion across 40+ blockchains, including layer 2 blockchains, The Graph is one of the DeFi projects that will shine in the bull market. Numerous price predictions on the chart signal a surge to the $1 mark before the end of the second quarter, making it one of the DeFi tokens to invest in now.
Closing thought
Although the intense bearish sentiments have affected many DeFi tokens, the next phase is expected to usher in the bull market. Therefore, this article has made investors’ jobs easier by highlighting the top DeFi coins that should be purchased now that the market is declining. By accumulating these tokens, investors could be on their way to resounding success in 2024.
Discover exciting KangaMoon (KANG) presale opportunities today!
Website: https://Kangamoon.com/
Join our Telegram community: https://t.me/Kangamoonofficial