Category: News, NFT News

Buying the Dip – Top 5 DeFi Coins Primed for a 5,000% Rally

By Published On: June 4, 20245.4 min readViews: 1760 Comments on Buying the Dip – Top 5 DeFi Coins Primed for a 5,000% Rally
The market has undergone a dip as of recently as the broader crypto market cap has declined to $2.43 trillion based on on-chart data. As a result, many are considering this as an opportunity to diversify their holdings, in order to get the highest exposure to different projects and the best growth potential as the dip ends and a rally begins. 
Today, we will look at the top 5 DeFi coins which could surge by potentially 100x following the upcoming rally, and could become market leaders in 2024 and beyond. As a result, we will be taking an in-depth look at KangaMoon (KANG), Chainlink (LINK), Uniswap (UNI), Maker (MKR) and The Graph (GRT). By the end, we will determine which is the best DeFi crypto to jump into in 2024 for the most significant price gains. 

KangaMoon (KANG): Fusing Social-Fi With P2E and Implementing a Community-Driven Approach

KangaMoon (KANG) has already seen over 20,000 registered users and is dominating the charts even during the ongoing market correction phase, as evident from its latest on-chart metrics. Specifically, the KANG token has surged in value from a low point of $0.005 to $0.0196, which is indicative of a 290% price increase.

In addition, the presale has also raised over $6 million, and with the increased interest, demand, and appeal of its vast ecosystem, it has the potential to break past $7 million by the end of the month.

The KANG token has gained significant interest from traders, as it offers a high level of utility within the ecosystem. The platform features a unique integration of Play-to-Earn (P2E) elements, Social-Fi elements and a community-driven approach. Here, KANG is used as the native crypto which enables anyone the opportunity to buy items, level up their characters in the game, and even access a marketplace in which they can buy, sell or trade NFTs.

KangaMoon also recently teamed up with RaidSharks as a means of supercharging a community and will offer a solid monthly reward pool for the most active participants. Based on all of these aspects, analysts have a bullish outlook for KANG’s future, and project a 5,000% price increase by the end of Q4, 2024, making it one of the top DeFi projects.

Chainlink (LINK): Enabling Access to External, Off-Chain Data in a Secure Way

Chainlink (LINK) is one of the most popular and powerful decentralized oracle networks utilized across Web3 as it enables smart contracts to access off-chain data feeds in a secure way. In addition, they can access web APIs, enterprise systems, IoT devices, cloud services, and even payment solutions or other blockchains with ease. As a result, the platform allows blockchain platforms to interact with any external data in a secure way.

As for the Chainlink price performance, the crypto has gone up 95% year-to-date (YTD), and at this rate could see far more substantial gains. Moreover, during the past week, the Chainlink crypto went up from $13.81 to a maximum price of $15.61. Based on the Chainlink price prediction, this crypto can end Q4 of 2024 at a maximum value of $21.21, positioning it as one of the top DeFi projects.

Uniswap (UNI): Utilizing Smart Contracts to Power an Automated Liquidity Protocol

Uniswap (UNI) is a popular decentralized exchange (DEX) that utilizes the power of blockchain-based smart contracts in order to facilitate the decentralized trading of different types of digital assets. Pairs of cryptocurrencies get swapped through the usage of liquidity pools, which automatically rebalance after each trade through smart contract integrations.

During the past year, the Uniswap price has gone up 36%. Moreover, within the past week, the Uniswap crypto experienced a price jump from $7.55 to a maximum point at $8.28, and at this rate could soon break past the major $10 price barrier to reach new heights. According to the Uniswap price prediction it can end 2024 at a value of $12.20, making it one of the best DeFi projects to jump into.

Maker (MKR): The Native Crypto of the Maker Protocol Used for Governance

Maker (MKR) is the native crypto of the Maker Protocol that utilizes the ERC-20 token standard. As for the protocol, it’s a decentralized finance (DeFi) project also known as the Multi-Collateral Dai (MCD) system. It enables users to leverage assets in order to generate a community-managed cryptocurrency that tracks the price of USD, known as DAI. Moreover, the Maker crypto acts as the governance token, so holders of it get the opportunity to vote on t he future development of the protocol and even the proposals affecting the usage of Dai.

As for the Maker price performance, the crypto increased 295.8% year-to-date (YTD). In the past week, the crypto also went up from $2,797.86 to $3,135.65, indicating major bullishness. According to the Maker price prediction, the crypto can end Q4 of 2024 at $4,470, positioning it as one of the best DeFi projects.

The Graph (GRT): Indexing Blockchain Data Required for dApp Creation

The Graph (GRT) is an indexing protocol for Web3 utilized for the organization of data, and provides access from blockchains and storage networks. Through it, developers have the opportunity to search, find, publish and even utilize any public data that they require for decentralized application (dApp) development.

During the past year, The Graph price has gone up 79%. In addition, The Graph crypto has increased from $0.248 to $0.307 during the past week, and now aims to break above the $0.35 price barrier in order to reach new heights. According to The Graph price prediction, it can reach $0.4049 by the end of 2024, making it the best DeFi crypto to diversify with.

Moving Forward With Diversification Into Decentralized Finance (DeFi)

Based on the on-chart metrics, it’s clear that most of the crypto market is currently undergoing a price correction period, where some altcoins have seen a price decline. However, this also provides an excellent entry point for traders looking to diversify their holdings, and Chainlink, Uniswap, Maker, and The Graph all showcase positive on-chart metrics and can surge in value. However, the most significant gains can be made by the KangaMoon crypto, as it is still in the early presale stages and has a massive 5,000% growth potential in 2024. 

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

Join Our Telegram Community: https://t.me/Kangamoonofficial

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.


Source link

Discover more from BIPNs

Subscribe to get the latest posts sent to your email.

Written by : Editorial team of BIPNs

Main team of content of bipns.com. Any type of content should be approved by us.

Share this article:

Share your opinion. And leave a reply within the comments from below.


Discover more from BIPNs

Subscribe to get the latest posts sent to your email.