DeFi
Which DeFi coins were selected for the May edition
The DeFi market has seen a remarkable resurgence over the past month as many DeFi tokens begin their bullish journey. After several setbacks in March and April, the month of May restarted the bullish trends, with investors now looking for the latest trends. In this DeFi crypto list, we have selected the DeFi giants that are poised to make waves in 2024. The tokens were chosen after careful deliberations, exploring all the different factors that can make or break their development. Aside from capturing investor frenzy, these tokens also have the momentum to bring significant market momentum that makes them the best DeFi tokens to invest in right now.
KangaMoon: creating a community of loyal participants
KangaMoon has caught our attention as one of the top DeFi coins making waves over the past few months. Amid recent bearish challenges, KangaMoon has shown incredible resilience, evolving to become 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 enjoy both dividends. This great idea allows users to express themselves in gaming activities, and potentially benefit from their gaming skills.
Additionally, KangaMoon’s integration with RaidSharksBot to boost user engagement makes it one of the best DeFi tokens investors are looking for. Besides the features listed above, this DeFi project has “killed it” in terms of achievements. Recently, the platform raised a whopping $6.8 million in presale, a milestone that has only been achieved by a few new DeFi tokens.
Additionally, there are over 28,000 members of the KangaMoon community, and nearly 10,000 holders of its native token. To top it all off, KangaMoon rewarded its many admirers with a significant return on investment. Like the last count, early buyers pocketed 400% profit, with analysts predicting up to a 1,000% return on investment before the pre-sale ends. At the current bonus stage, KANG is available at $0.025 with an optional 10% bonus to activate.
There is also an asset staking option, which brings more profits to investors. In an article, BitMart, the leading centralized exchange, announced plans to list the token by the end of the presale.
Internet Computer: Changing Blockchain Designs Trends
Internet Computer moves away from the old variant of blockchain designs, incorporating a new element of cryptography. Virtually, Internet computers allow users to create online services, including complex web-based social media, without relying on conventional cloud computing. The Internet computer network is radically rethinking how systems and applications work using its on-chain key 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 seen incredible gains, increasing 145% on the year-to-date chart. The market capitalization of Internet computers has also seen a significant jump and now exceeds $6 billion. On its third anniversary earlier this year, Internet Computer released a roadmap documenting its ambition to move into decentralized AI. Coupled with its major focus on blockchain interoperability, Internet Computer price 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
Created by When Byung, a South Korean computer scientist, Fantom is a layer 1 blockchain that powers the next generation of decentralized applications. Using its independent consensus layer, Fantom integrates the ideas of scalability, security, and decentralization to solve problems associated with legacy blockchains. One of the main unique qualities of Fantom is the ability to decentralize the main consensus layer.
Instead of developers using the same core network, which hampers scalability and eases congestion, Fantom allows each developer to deploy their independent network for faster program execution.
Since its introduction in 2019, Fantom has maintained a strong presence in the market, reaching its highest value during the 2021 bull market. Despite the market decline in recent months, Fantom is one of the leading DeFi tokens in rise, increasing by 22% on the monthly chart. Although the Fantom token has hit a snag in its attempt to reach a market cap of $2.5 billion, analysts believe there is no reason for alarm. With many projects launching on the Fantom ecosystem, the platform is expanding its user base, which could pave the way for incredible increases in its native token.
Wormhole – Enabling Businesses to Grow Across Multiple Channels
Wormhole, a leading interoperability network, powers a multitude of applications. Launched earlier this year, Wormhole allows businesses to build multi-chain bridges and applications, creating space for an intuitive user interface and seamless transfer of digital assets. Wormhole made one of the largest airdrops in recent times, distributing up to 17% of its total supply to community participants.
While Wormhole’s stock seems to be running out of steam in terms of its price value, Wormhole’s market capitalization is gaining momentum and now exceeds $1 billion. Digging deep into the Wormhole market sentiments, the dominance of the bears is visible. Even Wormhole was recently rejected at the 20-day EMA as some investors started selling. 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 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. Particularly for Ethereum, the platform offers a staking solution in which users are awarded stETH in exchange for depositing ETH. This allows users to earn passive income through staking while maintaining liquidity.
Launched in 2021, the Lido DAO price reached its ATH value of $11 in the 2021 bull market. While the Lido DAO token has struggled to appreciate in terms of price, the market capitalization and trading volume Lido DAO transactions are increasing massively. With its versatility as an Ethereum-compatible network, the token has the greatest potential to become one of the top DeFi coins in 2024. With this potential, the Lido DAO token could trade above $3 this year .
Conclusion
Investing in cryptocurrencies requires due diligence and stronger tactics. One of the best ways to make a profit is to follow analyst predictions. However, investors must also DYOR before allowing any investment. Although these tokens have a strong presence, it is possible that they may still encounter bearish sentiments at times. As such, investors should only invest what they can afford to lose during their trades.
Discover the exciting opportunities of the KangaMoon (KANG) presale today!
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