The DeFi market has seen an exponential rise, with a Total Value Locked (TVL) of $99.916 billion according to DeFiLlama. It's clear that interest is massive to enter this sector of Web3, and many investors and traders have begun to diversify their holdings as a direct result of this.
Fortunately for many just jumping into this market, there are several DeFi coins that according to research conducted by the biggest experts in the industry have the potential to experience a major rally in April and in 2024 fully, which will enable anyone to get high returns on their investments. These include KangaMoon (KANG), Chainlink (LINK), Uniswap (UNI), THORChain (RUNE) and Aave (AAVE). Today, we will explore everything traders need to know surrounding these top DeFi projects in order to make the most out of their diversification strategy.
KangaMoon (KANG) Hits $3 Million Mark As Token Spikes 180% Following Bullish Presale Momentum
KangaMoon (KANG) is one of the latest projects to enter the industry but despite its young age it's already managed to make a high reputation for itself among Web3 circles as it introduces unique technology that help it separate itself as a DeFi project.
Specifically, it will introduce Play-to-Earn (P2E) elements, coupled with a community-driven approach and Social-Fi features. Anyone can create their own KangaMoon character and begin exploring the various elements in its ecosystem. They can accumulate KANG tokens or rare NFTs just by completing quests, battling players, or participating in community-driven events.
Moreover, there will also be a dedicated marketplace in which anyone can buy, sell or trade in-game items, characters or digital collectibles. So far the project has reached Stage 4 of its blockchain ICO where it managed to raise over $3.4 million, and could soon pass $4 million or even $4.5 million as hype and attention to the presale is massive. Moreover, the project’s native token, KANG has grown from $0.005 to $0.014, and as a result, has marked a 180% price increase. Due to its interactive DeFi elements, analysts are projecting a 100x price increase for the KANG token by the end of 2024. These aspects position KANG as one of the top DeFi projects.
Chainlink (LINK) – Spiking 183.8% in the Past Year With the Potential to Breach $30
Chainlink (LINK) has gained a significant level of attention in the DeFi space since its launch as-well as it establishes a decentralized oracle network that provides real-world data to smart contracts on top of the blockchain which developers have utilized in a variety of different ways. These can enable anyone the opportunity to get any off-chain data that they need, and Chainlink utilizes hybrid smart contracts to make this a possibility.
As for the price performance of the Chainlink crypto, it moved up by 183.8% in the past year, and is up 18.7% in the past week. Throughout the weekly chart, the Chainlink price has grown from $16.54 to $20.44, and could soon reach new heights. According to the Chainlink price prediction, it can end 2024 at $32.05, making it one of the top DeFi coins.
Uniswap (UNI) – A DEX Token That Can Climb to $18.24 by Q4, 2024
Uniswap (UNI) has become one of the largest decentralized exchanges (DEXs) built on top of the Ethereum blockchain and features liquidity pools, while utilizing a deterministic algorithm. Through it, it can calculate the price of crypto assets, instead of relying directly on sellers or buyers. Traders can, as a direct result of this, use Uniswap to make token swaps across a range of prices without running out of crypto.
Moreover, based on the on-chart data, the Uniswap price has grown 119.3% year-to-date (YTD), and it's also up 18% in the past 30 days. Moreover, in the past week, the Uniswap crypto also grew 17%, and moved from a low point of $10.56 to a maximum value at $12.86. Subsequently, according to the Uniswap price prediction, the crypto can spike as high as $18.24 by Q4, 2024.
THORChain (RUNE) Climbs 587.6% and Has the Potential to Reach New ATH
THORChain (RUNE) enables cross-chain swaps without any token wrapping, which results in the creation of a bridge between different blockchain networks. The project launched its mainnet in 2021, and now supports numerous networks .Through its decentralized cross-chain liquidity protocol, any user can swap assets between different blockchain networks with ease, and this has positioned it as a major DeFi crypto.
During the past year, the THORChain price has moved up 587.6%. Moreover, in the past month it's up 79.4%, and according to the weekly data, THORChain moved up by 28.9%. Here, it jumped from $7.31 to $9.69, and at this rate could reach new heights soon. Based on the THORChain price prediction, it can end 2024 at $14.67.
Aave (AAVE) – Exponential Momentum Can Result in a Massive Upswing Above $180
Aave (AAVE) has also positioned itself as a major force in DeFi as it is a decentralized, non-custodial liquidity market protocol. Through Aave, any user can participate as a supplier or a borrower. The supplier can provide liquidity to the market, and by doing so is eligible to get passive income opportunities. On the other hand, borrowers can borrow in an overcollateralized, or undercollateralized method. These aspects have made Aave a major crypto, where in the past year it climbed 79%, and in the past month it's up 30.7%. Moreover, during the past week, Aave spiked 15.4%, where it moved from $106.90 to $131.53. According to the Aave price prediction, it can end 2024 at $186.21.
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