As we all know, opportunity comes with the Year of the Dragon and veteran traders are already looking for the next big thing in crypto. The DeFi market has been steadily growing as new projects change how we think about currencies. Today, we’ll run down the top 5 DeFi coins that are set to blow up this year.

KangaMoon (KANG)

KangaMoon (KANG) is one of the top new DeFi projects in 2024. It is a revolutionary crypto that taps into the P2E games market, which Yahoo Finance predicts may reach $885M by 2028. To clarify, KangaMoon will launch a P2E game where KANG will serve as the primary in-game currency. Players will utilize KANG to obtain in-game items and character upgrades.

Not only that, but this DeFi project has also placed a strong emphasis on its community. With their official launch on the horizon, KangaMoon is keeping everyone involved. Leading up to the big day, they give the most active community members free KANG tokens. As a result, countless traders are now liking/sharing/commenting on KangaMoon’s social media posts.

Currently, KangaMoon is in its presale run. During this period, anyone may purchase this DeFi coin for a discount. It now costs just $0.014, a 180% growth from its starting price. Demand is so high that KangaMoon has raised over $2.5M so far, with projections of reaching $3M before March 2024 ends.

However, keep in mind that this is a Stage 4 presale price, and as it advances, more price pumps will happen. In fact, experts in the crypto field are bullish about this DeFi coin’s potential. They predict a 50x growth for KANG once a Tier-1 CEX lists it in Q2 of 2024 and another 100x rise before the Year of the Dragon ends.

Avalanche (AVAX)

Avalanche (AVAX) has made a name for itself in the DeFi market, and it’s no wonder why. Its blockchain network is all about speed, throughput and scalability. It’s also interoperable across blockchains, making life easier for many people. Plus, the Avalanche crypto is also showing bullish signs.

Over the last 30 days, the Avalanche price has jumped from $36.70 to $55.08. Additionally, its market cap grew from $13.59B to $20.78B. Also, 24 technical indicators are flashing green for this DeFi project. Market analysts have predicted a positive price for Avalanche because of all these factors. They predict that in Q2 of 2024, AVAX will increase to $78.68.

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Chainlink (LINK)

Next up on our top DeFi crypto list is Chainlink (LINK). With its decentralized oracle network, this DeFi project sends shockwaves through the blockchain world. Smart contracts have always had a problem connecting with real-world data, and Chainlink solves this issue. This factor has solidified Chainlink’s place as a DeFi industry leader.

The Chainlink price movement surged from $7.62 to $18.01 over the past year—a 140% increase. During that period, its market cap pumped from $3.73B to $10.57B. The technical analysis for this DeFi coin shows bullish signals as it now trades above its 100—and 200-day EMAs. Thus, experts predict LINK hitting $22.55 before the Year of the Dragon ends.

Internet Computer (ICP)

Internet Computer (ICP) is our next pick for the best DeFi crypto in the Year of the Dragon. The Internet Computer project is all about 2 things: speed and safety. It tackles the big issues like data storage, system security and compromised personal information that still prevail in today’s internet landscape.

The Internet Computer price has been on an uptrend recently. According to CoinMarketCap data, ICP’s value grew from $12.65 to $13.15 on the 7-day chart and its market cap soared from $5.83B to $6.10B in that time. Over 26 technical indicators are also flashing green for this DeFi coin. Because of this, market analysts forecast ICP to reach $14.97 in Q2 of 2024.

Stacks (STX)

Stacks (STX) took the last spot on the top DeFi projects in this list. It’s breaking down old barriers and enabling developers to build DApps on top of Bitcoin—the first of its kind. With this innovation, it has made a name for itself in the DeFi space.

Over the past 30 days, the Stacks price has risen from $2.75 to $3.47. Its market cap surged from $3.97B to $5.01B in that period. Stacks is currently trading above its 100 and 200-day EMAs while boasting 29 green technical indicators. Due to all these reasons, market analysts predict this DeFi crypto will reach a value of $3.65 in the Year of the Dragon.

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

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Unveiling a vision for 2024 that could significantly disrupt the function and impact of cryptocurrency, Floki Inu’s development team has recently shared its roadmap. With the promise of features like regulated digital bank accounts and the integration of Venus’s decentralized finance (DeFi) protocol, Floki Inu anticipates a radical shift in the cryptocurrency landscape. Additional features include a Floki debit card and the release of Valhalla, the coin’s primary blockchain network.

The roadmap points to a move towards financial inclusion by enabling ‘unbanked’ users universal banking access. Regulated digital banking accounts are set to spearhead this initiative, allowing users to open and fund accounts with FLOKI tokens. To lend credibility and global reach to this offering, Floki Inu is joining forces with a licensed fintech company with operations in five key jurisdictions: Canada, Spain, Dominica, Australia, and the UAE.

Complementing the introduction of these accounts are Floki Debit Cards designed to allow users to link their crypto holdings to a card for seamless spendability in traditional currencies like the Euro and US dollar. Designed to foster mainstream adoption and utility in the cryptocurrency space, this initiative could be a game changer.

Another feature to watch out for, pending governance approval, is the listing of FLOKI on Venus Core Pool. This inclusion epitomises Floki Inu’s commitment to deepening liquidity, rivalling established blue-chip cryptocurrencies. A blend of access to assets and the collateral use of FLOKI tokens presents a unique option for FLOKI holders.

Floki Inu is also preparing to introduce a cross-chain Telegram and Discord trading bot, powered by FLOKI tokens. This bot will allow frictionless trading of cryptocurrencies on reputable blockchain networks with half of the generated fees going towards purchasing and burning FLOKI tokens.

Excitement is building around Floki Inu’s GPS coordinate: the mainnet release of Valhalla, their utility and metaverse game. The game, digitally sculpted with on-chain mechanics, upgradeable NFTs and a thriving PlayToEarn economy, promises an immersive open-world experience.

The FLOKI token, despite experiencing a 17% correction over the past week, aligns with the overall market trend. At present, it trades at $0.0002295 on the heels of a remarkable year-to-date rise of 440%. The impressive increase in value vaults the token’s market capitalization to $2 billion, securing the 59th position among the top 100 cryptocurrencies in the market.

Solana’s flourishing season continues as DEXs on the chain attain a new monthly high above $50 billion.

Layer-1 blockchain Solana continues to remain in the spotlight. A current metric confirms that decentralized exchanges (DEXs) building on the blockchain have raked in over $50 billion in trading volume, representing a new monthly high since Solana’s inception. 

Solana DEX Volume Hits $50B

According to data analytic platform DeFiLlama, over $50 billion worth of digital assets were traded on Solana DEXs this month. This volume represents a notable 126% surge compared to last month, which recorded $28.62 billion.

Orca, phoenix, and Raydium emerged as the top three contributors to this surge, boasting trading volume of $5.753 billion, $3.06 billion, and $2.178 billion respectively, in the past seven days.

DEXs on Solana have been on an impressive surge since this month. Last week’s data indicated that the network’s weekly DEX volume exceeded $13.3 billion, and the current trading volume has now reached an all-time high of over $50 billion. This impressive milestone reflects the surge in Solana’s trading activity amid the cryptocurrency market’s significant growth trend.

What’s Behind Solana’s Growth?

Solana’s impressive upward trajectory in terms of market value can not be attributed to only one factor. Apart from the surge in DEX volume, the network’s decentralized finance (DeFi) has $4.43 billion in total volume locked (TVL). This impressive milestone is the first Solana has seen in 23 months.

Additionally, there has been a notable increase in the value of several meme coins operating on the Solana platform. This sector boasts a market cap exceeding $5 billion, with daily trading volumes surpassing $2.7 billion. 

Coins like Bonk and Dogwifhat (WIF) have garnered attention and seen appreciable gains after receiving listing from crypto exchanges like Binance. Another meme coin called Book of Meme (BOME) had a significant rise of about $1.45 billion in market capitalization in hours. 

Last week, Coinfomania reported that a total of 8,630 meme coins were created on the blockchain on March 10. These developments indicate a growing interest in Solana-based meme coins, thereby contributing to increased trading volumes in the network. 

Meanwhile, data from the price tracking platform Coinstats shows that SOL has experienced a significant 9.12% increase in the last 24 hours, exchanging hands at $193.12 at press time.

March 25, 2024 by Carolyna Mavis