The decentralized finance (DeFi) sector has been slow to catch up with the current bull market, but it has recently seen a surge in Total Value Locked (TVL), reaching $108 billion. This is the highest level since the Terra/Luna crash in 2021. The increase in TVL is attributed to the buzz surrounding Ethereum ETFs, although these ETFs are unlikely to offer staking yields.
Several DeFi coins have benefitted from the bullish sentiment in the market. These include KangaMoon (KANG), Lido DAO (LDO), Uniswap (UNI), Ethena (ETA), and Aave (AAVE). Experts believe that these coins are just getting started and are poised for significant growth in the coming weeks. This article will explore the top DeFi coins to invest in right now.
KangaMoon, which has already seen a 400% increase in price value and raised over $7 million in presale revenue, is at the top of the list. The coin has gained popularity due to its unique features and potential for growth. It has attracted over 32,000 users and has around 10,000 holders. KangaMoon focuses on building a community where gamers and traders can interact and participate in battle-themed challenges and tournaments. Users can earn rewards in the form of KANG tokens or rare NFTs. The KANG token will also have utility within the ecosystem, acting as a revenue incentive and in-game currency. The current price of the KANG token is $0.025, but experts predict that it could reach $0.5 soon. With the growing popularity of NFT gaming and play-to-earn, KangaMoon has the potential to tap into this market and provide significant returns for investors.
Uniswap, a decentralized trading protocol, has been in the news recently due to its regulatory battle with the SEC. Despite the regulatory challenges, Uniswap has remained resilient and has introduced wallet funding on its mobile app, making it easier for users to transfer funds securely. The price of Uniswap has remained stable, and experts consider it one of the best cryptocurrencies to invest in for 2024.
Ethena, a synthetic dollar protocol, is gaining traction as a reliable investment option. The recent surge in its price is attributed to the introduction of the Revolut application on the blockchain, allowing users in the EU and other eligible countries to trade the coin. Additionally, Ethena has also benefited from the overall increase in Ethereum’s price. With these developments, Ethena is considered one of the top DeFi coins to invest in for 2024.
Lido DAO, a staking infrastructure for various blockchain networks, has gained popularity in the market. Its coin has experienced a significant increase in value due to the rise in Ethereum’s price and overall market trends. Experts predict that Lido DAO’s price could move to $8, making it an attractive investment option.
Aave, a major lending protocol, has also seen significant gains in its value. Analysts predict that Aave could increase by 400% by the end of the year. With its upcoming v4 protocol launch and increased market activities, Aave is considered one of the best cryptocurrencies for 2024.
In conclusion, as the crypto market enters a parabolic bull run, it is an opportune time for investors to consider accumulating the best coins with high growth potential. KangaMoon leads the pack with its unique GameFi play-to-earn feature and small market capitalization, which could trigger a significant increase in value. However, investors should conduct thorough research before investing in any crypto asset.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic does not endorse or support any specific content or product mentioned in this article.