DeFi tokens represent a wide and rapidly growing ecosystem within the crypto industry, offering innovative solutions and utilities within different sectors. Owing to this, DeFi coins seem to have captured the attention of many investors who wish to enjoy better returns as guaranteed by different DeFi projects, including Chainlink (LINK), Uniswap (UNI), Injective (INJ), Maker (MKR), and KangaMoon (KANG).
However, a new DeFi cryptocurrency known as KangaMoon has also stood out as the best crypto to invest in 2024. With a 290% ROI for early investors, KangaMoon is already set to join the list of the top crypto to buy. This means that investors should grab the chance and invest now, as KangaMoon is set to surge to $0.5 once listed among the tier-1 CEX in Q2 of 2024.
KangaMoon (KANG)
Passive earning is one of the pillar features that has made the DeFi ecosystem quite popular. KangaMoon, a DeFi project, seems to be taking this feature to the next level with its unique SocialFi concept. The SocialFi concept works by rewarding users based on social engagement and network activities. Using the SocialFi concept, KangaMoon is working on building one of the most active meme coin communities by providing its members with different earning opportunities.
KangaMoon users can earn KANG tokens and other in-game products by participating in tournaments and battles. However, non-participants can also earn by placing bets on matches. This unique concept has made KangaMoon one of the fastest-growing top DeFi projects of 2024.
This KangaMoon growth rate has also been highlighted in its price growth, having surged from $0.005 to $0.0196. This signifies a 290% ROI for early investors, making this unique meme coin a must-have DeFi token. Additionally, KangaMoon also managed to raise over $5 million in its presale stage, a clear indication that this unique DeFi coin is set for greatness.
Owing to KangaMoon's outstanding approach within the DeFi market, many investors are now seeing the promising future that the platform offers. This has contributed to an increase in KANG holders, who stand at over 6,000 at the moment. Moreover, analysts have continued to stress the importance of investing in this promising crypto coin now, with a projected growth of up to 100x once listed among the major exchange platforms in Q2 of 2024.
Chainlink (LINK)
Chainlink (LINK) stands out as one of the best DeFi projects that seems to have caught the attention of many investors and enthusiasts alike. Well-known for its decentralized finance network, which enables blockchain-based smart contracts to access off-chain data easily, Chainlink coin has been going through a tough week, with its price suffering a substantial dip. Since mid-March, the price of Chainlink has undergone a dip of close to 40%, plummeting from around $22 to $14. This dip in the price of Chainlink coin has been attributed to different factors, as highlighted by Upside-Down Data, a popular YouTube crypto analysis channel.
However, during the previous bear market, Chainlink price seems to have demonstrated remarkable resilience, while maintaining better value compared to Bitcoin. This kind of performance fueled high expectations among investors who seemed to anticipate that Chainlink's price prediction would outperform its current market cycle. However, despite Chainlink's initial rally, its momentum has been wading off, leading to a decline in investors as the LINK price stagnates at around $12.19 and $14.80, according to CoinMarketCap.
Uniswap (UNI)
Uniswap (UNI) is one of the DeFi coins that has been attracting new investors due to its outstanding performance. According to a recent tweet, Uniswap Labs announced that it has managed to launch limit orders. These Uniswap limit orders feature zero gas fees and will use both on-chain and off-chain liquidity to achieve better prices.
However, as much as Uniswap’s decentralized exchanges stand a chance of enjoying from such benefits, holders of Uniswap tokens are still undergoing losses. This is due to the fact that Uniswap's price has decreased by almost 33.7% over the past month. Also, within the weekly price chart, the price of Uniswap coin has also dipped by 23.5%. Despite this being a huge blow to this unique DeFi coin, recent price prediction for Uniswap indicates that it might regain its surging momentum as it continues to experience a slight rally over the past two days. According to CoinMarketCap, Uniswap coin has been trading between $6.22 and $7.80.
Injective (INJ)
Injective (INJ), a decentralized finance and derivatives trading platform, has been making headlines in the DeFi market due to its upcoming upgrade, which is known as Injective 3.0. This Injective upgrade aims at addressing some of the prevalent issues of token inflation which is quite common among DeFi projects. The upgrade will introduce a unique mechanism that will help control the creation of new Injective tokens as well as encourage users to stake their current INJ assets. A move that could end up pushing the price of Injective even higher.
While the main move of the Injective 3.0 is to ensure there is scarcity in the INJ tokens, it also seeks to establish a supply-demand scenario that might elevate the Injective coin price. Currently, the Injective coin has been experiencing a surge, with a 12% rally over the past week, topped with a 24% surge over the past month. These price movements continue to spur better price predictions for Injective, which is trading at around $23.36 and $29.00, according to CoinMarketCap.
Maker (MKR)
Maker (MKR) has been recording better prices over the past 24 hours, having surged by at least 4.41% to trade at $3,232.85. This is opposite to the Maker coin dipping trend over the past week, where the MKR price underwent a 4.0% loss. With an all-time high of $6,292.31, the price of Maker continues to enjoy a significant surge, with its trading volume having increased by 34% within the past seven days.
With such a positive market trend, analysts have also placed a positive price prediction for Maker, highlighting that this surge could continue in the coming months. According to CoinMarketCap, Maker coin has a market cap of around $2.8B, making it one of the best DeFi projects of 2024.
Conclusion
While most of the cryptocurrencies listed above hold a better position within the DeFi market, KangaMoon is also emerging as a high-potential gainer in 2024. This crypto is preparing to become the best DeFi crypto due to its high potential gain of up to 5,000x by the end of the year.
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