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Which DeFi coins made the cut for the May edition
The DeFi market has witnessed a notable recovery over the past month as many DeFi tokens have begun their bullish journey. After several setbacks in March and April, May has revived bullish patterns with investors now looking for the latest trends. In this list of DeFi cryptocurrencies, we have selected the DeFi giants that are ready to make waves in 2024. The tokens were chosen after careful consideration, exploring all the different factors that can make or break their developments. Aside from capturing the investor frenzy, these tokens also have the momentum to bring significant momentum to the market making them the best DeFi tokens to invest in now.
KangaMoon: Creating a community of loyal participants
KangaMoon has caught our attention as one of the major DeFi coins that have been making waves in recent months. Amid recent bearish challenges, KangaMoon has demonstrated incredible resilience, evolving to the pinnacle of the DeFi market. The platform introduced a unique way to play Web3 games with the merger of GameFI and SocialFi, allowing users to profit from both dividends. This great insight allows users to express themselves in gaming activities, potentially profiting from their gaming skills.
Furthermore, KangaMoon’s integration with RaidSharksBot to increase user engagement makes it one of the best DeFi tokens that investors are striving for. Aside from the features listed above, this DeFi project “killed it” in terms of results. Recently, the platform raised a whopping $6.8 million in pre-sales, a major milestone achieved by only a few new DeFi tokens.
Additionally, there are more than 28,000 members of the KangaMoon community, with nearly 10,000 holders of the native token. To top it all off, KangaMoon has rewarded its many admirers with a significant ROI. At last count, early buyers have pocketed a 400% profit, and analysts are predicting an ROI of up to 1000% before the pre-sale ends. As the bonus currently stands, KANG is made available at $0.025 with an optional 10% bonus to activate.
There is also an option for asset staking, which earns investors more profits. In an X post, BitMart, the top-tier centralized exchange, announced a plan to list the token by the end of the presale.
Computer Internet: Changing Trends of Blockchain Projects
Internet Computer represents a departure from the old variant of blockchain projects, incorporating a new element in cryptography. Virtually, Internet computers allow users to create online services, including complex social media webs, without resorting to the use of conventional cloud computing. The Internet computer network radically rethinks the functioning of systems and applications using key chain technology. Its native token, ICP, is used to facilitate governance rights and reward network participants.
With these specific use cases, Internet Computer is a strategic target for cryptocurrency traders and investors. Since its debut in 2021, ICP has shown incredible gains, rising 145% on the year-to-date chart. The market capitalization of Internet computers has also seen a significant leap, now exceeding $6 billion. During its third anniversary earlier this year, Internet Computer released a roadmap documenting its ambition to venture into decentralized artificial intelligence. Along with its key interest in blockchain interoperability, the price of the internet computer could reach $15 this month, making it the best DeFi token to accumulate.
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Fantom – Powering the next generation of decentralized applications
Founded by When Byung, a South Korean computer scientist, Fantom is a layer 1 blockchain powering the next generation of decentralized applications. Using its independent consensus layer, Fantom incorporates the idea of scalability, security, and decentralization to solve problems associated with older blockchains. One of the main unique qualities of Fantom is the ability to decentralize the core consensus layer.
Instead of having developers use the same core network which hinders scalability and facilitates congestion, Fantom allows each developer to deploy their own independent network for faster program execution.
Since its introduction in 2019, Fantom has maintained a strong presence in the market, reaching its highest value in the 2021 bull market. Despite the market decline in recent months, Fantom is one of the top growing DeFi tokens, rising by 22% on the monthly chart. Although the Fantom token has hit a snag in its bid to reach a market capitalization of $2.5 billion, analysts believe there is no reason to be alarmed. With many projects launched on the Fantom ecosystem, the platform is expanding its user base, which could pave the way for incredible increases in its native token.
Wormhole: Allowing companies to build across multiple chains
Wormhole, a high-level interoperability network powers a multitude of applications. Launched earlier this year, Wormhole enables businesses to build bridges and multi-chain applications, creating space for an intuitive user interface and seamless transfer of digital assets. Wormhole carried out one of the largest airdrops in recent times, distributing up to 17% of its entire supply to community participants.
While Wormhole’s price appears to be losing momentum in terms of value, Wormhole’s market capitalization is gaining momentum and now surpasses $1 billion. Digging deep into the Wormhole market sentiments, the dominance of the bears is visible. Wormhole also recently faced rejection at the 20-day EMA as some investors started selling. Since the token is in a downtrend, this is a good opportunity for smart investors to accumulate at a lower price. With what Wormhole is building, analysts believe this DeFi cryptocurrency will regain strength and perhaps reach $1 in 2024.
Lido DAO – Providing staking infrastructure for Blockchain networks
Lido DAO is a liquid staking solution for different blockchains. The network allows node validators to aggregate infrastructure across multiple networks, including Ethereum and Solana. Specifically for Ethereum, the platform offers a staking solution where users are awarded stETH in exchange for depositing ETH. This allows users to earn passive income through staking while maintaining their liquidity.
Launched in 2021, the price of Lido DAO reached its ATH value of $11 in the bull market of 2021. Although the Lido DAO token had difficulty appreciating in terms of price, Lido DAO’s market capitalization and trading volume trade is increasing enormously. With its versatility as an Ethereum-compatible network, the token has the greatest potential to become a major DeFi coin in 2024. With this potential, the Lido DAO token could trade for more than $3 this year.
Conclusion
Investing in cryptocurrency requires due diligence and stronger tactics. One of the best ways to profit is by following analyst forecasts. However, investors should also DYOR before allowing any investment. Although these tokens have a strong presence, there is a possibility that they may still encounter bearish sentiments in some places. Therefore, investors should only invest what they can afford to lose in the course of their trades.
Discover exciting KangaMoon (KANG) presale opportunities today!
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