DeFi Giants To Watch: Which DeFi Coins Made The Cut For May Edition

The DeFi market has witnessed a remarkable resurgence in the past month as many DeFi tokens begin their bullish journey. After several setbacks in March and April, May has kick-started the bullish patterns with investors now looking for the latest trends. In this DeFi crypto list, we’ve curated the DeFi giants that are poised to make waves in 2024. The tokens were chosen after careful deliberation, exploring all the varying factors that can make or mar their developments. Aside from capturing investors’ frenzy, these tokens also have the necessary impetus to bring significant market momentum that makes 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 top DeFi coins that have been making waves in the last few months. Amid the recent bearish challenges, KangaMoon has demonstrated incredible resilience, evolving into the pinnacle of the DeFi market. The platform introduced a unique way of playing Web3 gaming with the merging of GameFI and SocialFi, enabling users to profit from both dividends. This great insight allows users to express themselves in gaming activities, potentially earning from their gaming skills.

Furthermore, KangaMoon integration with RaidSharksBot to boost user engagement makes it one of the best DeFi tokens investors are scrambling for. Aside from the features listed above, this DeFi project has ‘killed it’ in terms of achievements. Recently, the platform raised a huge $6.8 million in presale, a great milestone that has only been achieved by a few new DeFi tokens. 

In addition, there are more than 28,000 KangaMoon community members, with holders of its native token nearing 10,000. To cap it all, KangaMoon has awarded its teeming admirers with significant ROI. As at the last count, early buyers have pocketed 400% in profit with analysts foreseeing up to 1000% ROI before the end of the presale. At the current bonus stage, KANG is made available at $0.025 with an optional 10% bonus to be activated.

There is also an option for asset staking, earning investors more profit. In an X post, BitMart, the top-tier centralized exchange has announced a plan to list the token by the end of the presale.  

Internet Computer: Shifting The Trends of Blockchain Designs

Internet Computer is a shift away from the old variant of blockchain designs, incorporating a new element in cryptography. Virtually, Internet Computers allow users to build online services, including complex web social media without resorting to the use of conventional cloud computing. The Internet Computer network makes a radical rethink of how systems and applications function using its chain key technology. Its native token, ICP, is used in facilitating governance rights and rewarding network participants.

With these specific use cases, Internet Computer is a strategic target for cryptocurrency traders and investors. Ever since its debut in 2021, ICP has shown incredible upswings, going up by 145% on the year-to-date chart. The Internet Computer market cap has also seen a significant jump which is now going above $6 billion. During its third anniversary earlier this year, Internet Computer released a roadmap documenting its ambition to venture into decentralized AI. Coupled with its key interest in blockchain interoperability, the Internet Computer price could hit $15 this month, making it the best DeFi token to accumulate. 

Fantom – Powering The Next Generation of Decentralized Applications 

Established 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 the problems associated with older blockchains. One of the key unique qualities of Fantom is the ability to decentralize the main consensus layer. 

Instead of developers using the same main network that hinders scalability and facilitates congestion, Fantom allows each developer to deploy their independent network for faster program execution.

Since its introduction in 2019, Fantom has maintained a strong market presence, reaching its highest value in the 2021 bull market. Despite the market dip of the past months, Fantom is one of the top DeFi tokens that has been on the increase, going up by 22% on the monthly chart. Although the Fantom token has hit a snag in its bid to race to a $2.5 billion market cap, analysts believe there is no cause for alarm. With many projects launching on the Fantom ecosystem, the platform is expanding its user base which may pave the way for incredible surges in its native token.

Wormhole – Allowing Businesses To Build Across Multiple Chains 

Wormhole, a top-tier interoperability network powers a multitude of applications. Launched earlier in the year, Wormhole allows businesses to build bridges and multi-chain applications, creating room for an intuitive user interface and seamless transfer of digital assets. Wormhole performed one of the biggest airdrops in recent times, distributing up to 17% of its entire supply to community participants. 

While Wormhole’s price seems to be losing steam as regards its price value, the Wormhole market cap is gaining momentum which is now above $1 billion. Digging deep into the Wormhole market sentiments, the dominance of the bears is visible. Even Wormhole recently faced a rejection at the 20-day EMA mark as some investors began to sell. As 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 that this DeFi cryptocurrency will regain strength and possibly hit $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 on multiple networks, including Ethereum and Solana. Particularly for Ethereum, the platform offers a staking solution where users are allocated stETH in exchange for depositing ETH. This allows users to earn passive income through staking while still maintaining their liquidity. 

Launched in 2021, Lido DAO price attained its ATH value of $11 in the 2021 bull market. While the Lido DAO token has found it difficult to appreciate in terms of price, the Lido DAO market cap and trading volume are massively pumping. With its versatility as an Ethereum-compatible network, the token has the utmost potential to be one of the top DeFi coins in 2024. With this potential, the Lido DAO token could trade above $3 this year. 

Conclusion

Investing in cryptocurrency requires due diligence and stronger tactics. One of the best ways to profit is to follow the predictions of analysts. However, investors should also DYOR before enabling any investment. While these tokens have a strong presence, there is a chance that they may still encounter bearish sentiments at some points. As such, investors should only invest what they can afford to lose in the course of their trading.

Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!

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