In the midst of an anticipated bull market, strategic investors are eyeing the best DeFi coins for substantial returns. Stacks (STX), Avalanche (AVAX), THORChain (RUNE), Lido DAO (LDO), and KangaMoon (KANG) are among the top contenders on investors’ radars. Let’s dive into the potential of these DeFi gems and why they are poised to deliver significant value in the coming bullish wave.
KangaMoon (KANG): The Most Anticipated P2E Meme Token Smashes Presale Records
KangaMoon (KANG) has been making waves in the DeFi realm, with its presale already surpassing $3.9M and aiming for the $4.5M mark this week. What sets KangaMoon apart is its innovative community driven effort of rewarding both new and existing users tokens when they engage with its social media platform simply by sharing posts and commenting.
Currently in Stage 5 of its presale at $0.0196 (a 291% increase from the starting price), the native KANG token is poised for more growth post-listing on exchanges in Q2 2024. This anticipated growth could potentially push the KANG token’s value to $1 especially after listing on platforms like Coinbase or Binance. If that be the case, experts are optimistic that KangaMoon will outshine most top meme coins like Shiba Inu and Pepe before the end of year.
However, the uniqueness of KangaMoon spans beyond its financial potential. The upcoming KangaMoon play-to-earn (P2E) game will utilize KANG as its primary currency, allowing players to power up characters and buy items for resale on the KangaMoon marketplace. KANG token holders will also be able to earn more tokens by betting on battle outcomes between other players.
This price potential is backed by the booming P2E NFT games market, which Yahoo Finance predicts will grow from $329M in 2022 to $885M by 2028. With KangaMoon becoming the first P2E meme coin to utilize blockchain gaming in this approach, the platform is poised to gain massive traction potentially propelling KangaMoon as the most sought after DeFi coin in the meme coin space.
Stacks (STX): Recently Attained an All-Time High Price
Stacks (STX) is a layer-1 blockchain that facilitates smart contracts and decentralized applications (dApps) on the Bitcoin network. Its unique approach of integrating smart contract functionalities with Bitcoin, the largest cryptocurrency by market cap, positions it as a promising player in the DeFi space this year.
This integration not only opens doors for innovative DeFi solutions but also paves the way for broader adoption within the Bitcoin community, potentially driving significant growth for the Stacks token and establishing it among the top DeFi coins. Particularly, the Stacks token has demonstrated a strong bullish momentum since the start of the year, consistently reaching higher price levels and ultimately reaching its all-time high (ATH) price of $3.80.
With a current weekly price range between $2.67 and $3.72, coupled with projections suggesting higher price levels, Stacks can potentially hit $5 by the second quarter. Meanwhile, the token has experienced a 37.76% increase in value over the past month and an additional 27.01% surge in the past week.
THORChain (RUNE): Maintaining a Bullish Outlook With Impressive TVL Raise
Lately, the price of THORChain has been faring well, having progressed by over 73% in the past month. THORChain stands out as a decentralized liquidity protocol enabling seamless cross-chain swaps between cryptocurrencies. In an era where interoperability is increasingly crucial, THORChain’s ability to facilitate trustless and secure cross-chain transactions is highly valuable.
Currently, THORChain is pricing in a weekly range of $7.31 and $9.69, as it still prices 54% below its ATH. Regardless, considering how THORChain is currently making nearly 25% rise this past week while approaching its resistance level, the token is considered to be upholding a strong bullish position that seems unshakable at the moment. As DeFi projects seek efficient and decentralized liquidity solutions, THORChain’s role could elevate its status among the top DeFi tokens in 2024.
Lido DAO (LDO): Navigating Volatility Well While Staying Above Support Levels
Lido DAO operates as a decentralized autonomous organization offering liquid staking services for Ethereum and other proof-of-stake (PoS) cryptocurrencies. As the demand for staking services grows alongside the shift to PoS consensus mechanisms, Lido DAO’s provision of liquidity and participation in staking could cement its position as a leading DeFi token, especially with Ethereum’s transition to Ethereum 2.0 and PoS.
As of the latest update, Lido DAO has seen an impressive 31.16% uptick in the past week, reaching a current weekly trading range of $2.29 and $3.39. Additionally, its trading volume is experiencing a negative momentum as it dropped by 12.19% within the past day, showcasing decreased market activity. Despite this, Lido DAO is still resilient, keeping up a strong performance as it refuses to drop drastically below crucial price levels. Over the past year, Lido DAO has soared by an impressive 44.85%, surpassing its 200-day simple moving average and indicating a consistent upward trend in its value.
Avalanche (AVAX): Breaking Resistance Thresholds As It Rides 2024’s Market Positivity
Renowned for its high throughput, low latency, and scalability as a layer-1 blockchain platform, Avalanche has been a strong crypto with major influence in the crypto market. Currently holding the 10th position as the largest crypto by market cap, Avalanche just recently priced up to a new level starting this year as it reached a peak price of $63 sometime last week, a significant jump from its last year’s price of $21.
Avalanche token has remained relevant over the years as it started another bullish rise this year, gaining over 230% from this time last year till now and over 48.28% in the past month. Currently Avalanche token holds in a weekly price range of $51.22 and $60.32 but its focus on scalability and interoperability poses it for higher price levels. Ultimately, Avalanche was a strong contender among the best DeFi coins this year, with potential growth driven by its robust infrastructure and developer-friendly environment.
Final Take
Just as highlighted in this article, Stacks, Avalanche, THORChain and Lido DAO are strong contenders on the list of DeFi coins that are poised for substantial returns this year. Moreover, special attention needs to be given to KangaMoon as its potential is unprecedented, considering the fact that the token project is still in its presale stage.
KangaMoon doesn’t just present itself as a token for trading, the whole essence of the platform is a community driven effort to reward a wide majority of users through various flexible incentives. While you consider investing in DeFi coins, endeavor to consider KangaMoon. Thanks to its P2E and NFT incentive, the platform encompasses all facets of crypto fun, prizes and entertainment. Follow the links below to be a part of the project!
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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