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As we move into 2024, it is vital to continue looking for which coins will be the best. In this sponsored content, trackable DeFi projects will be examined.
5 Coins to Follow in the DeFi Market
Sponsored content sender will list and identify trackable DeFi coins.
- KangaMoon (KANG): The new project, KangaMoon, is one of the new DeFi projects that combines social-fi and play-to-play (P2E) features. It has an exciting ecosystem where users can battle each other and earn cryptocurrencies and in-game items by completing challenges. But the project was new and its future is uncertain.
- Avalanche (AVAX): Avalanche is a high-transaction capacity blockchain platform that claims to be able to process smart contracts faster than its competitors. It supports Defi applications with features such as the ability to settle transactions in less than a second, offer low fees for transfers, and create private blockchain networks.
- Chainlink (LINK): Known for its decentralized oracle network that enables smart contracts to interact with real-world data, Chainlink is one of the most critical components in the DeFi ecosystem.
- Stacks (STX): Stacks does something different. It allows users to build smart contracts on top of Bitcoin. Connecting to Bitcoin allows more to be done with the established DeFi coin.
- Injective (INJ): The Injective Protocol allows users to engage in decentralized and borderless trading of derivatives.
An In-Depth Look at These DeFi Coins
Trackable DeFi projects are being examined.
KangaMoon (KANG): Can It Be Successful in the Future?
According to the sponsored content poster, KangaMoon (KANG) is a DeFi platform that combines meme coins and DeFi. By doing this, they introduce things like “Earn by Playing” and social-fi components. All of this aims to create an interactive ecosystem for users. But the project is new and has risks.
According to the content submitter, one of KangaMoon’s standout features is its P2E ecosystem. Users can actively battle other people and earn crypto by doing so. People who hold KANG tokens can even watch other players and bet on who will win, adding another fun layer to the experience.
The platform also runs weekly, quarterly and monthly challenges that give KANG holders extra tokens and in-game items. Additionally, you can trade or sell these items on the KangaMoon marketplace. These promises may not come true if the project fails.
Currently, KangaMoon is in the 2nd phase of its pre-sale. The price of KANG token is sold at $0.0075. KangaMoon has raised more than $270 thousand so far. But it is unknown whether it will be successful.
Avalanche (AVAX): Continues its Rise
Avalanche (AVAX) is another DeFi coin that has been on the rise lately. According to CoinMarketCap data, the price of this DeFi coin jumped from $37.80 to $41.01 last week alone. Its market value also increased from $13.61 million to $15 million during this time.
Sentiment for this DeFi coin is bullish, with 26 technical indicators glowing green. As a result, experts predict that Avalanche cryptocurrency will rise to $58.96 in Q2 2024.
Chainlink (LINK): A Well Established DeFi Coin
Next up is Chainlink (LINK) – A major player in the DeFi space. Recently, LINK has been riding a bull wave, with its value rising from $18.53 to $20.01 in the last seven days. Its market cap jumped from $10.76 million to $11.74 million during this time.
Technical analysis for this DeFi coin paints a bullish picture. For example, Chainlink is trading above its 100 and 200-day EMAs and has 27 green technical indicators. For these reasons, experts in the crypto space predict that the price of this DeFi coin will reach $32.87 in Q2 2024.
Stacks (STX): Bringing Smart Contracts to Bitcoin
As mentioned, Stacks (STX) enables the use of smart contracts on the Bitcoin blockchain. This functionality has positioned Stacks as one of the most “in demand” DeFi coins. Over the past seven days, the price of this DeFi coin has increased from $1.80 to $2.54. Not only that, but Stacks market cap also pumped from $2.59 million to $3.65.
Technical analysis for this DeFi coin shows that a bull rally could occur soon. In other words, Stacks now has a 28 green technical indicator while trading above its 100 and 200-day EMAs. Therefore, market analysts claim that STX is one of the DeFi projects to watch. They expect a potential price of $4.16 in Q3 2024.
Injective (INJ): Massive Annual Growth
Meanwhile, Injective (INJ) also made headlines as a leading DeFi coin. The price of this DeFi coin increased from $3.63 to $35.16 over the past year. This is a massive growth of almost 850% for a DeFi coin. During this period, Injective market cap jumped from $323 million to $3.28 trillion.
Technical analysis for Injective shows that this DeFi coin has a bright future. To explain, Injective is now trading above its 50 and 100-day EMAs while more than 23 of its technical indicators are in the green. Therefore, experts predict that the price of this DeFi coin could reach $48.57 in Q2 2024.
What Exactly Are DeFi Coins?
So, what exactly is DeFi? DeFi stands for “Decentralized Finance”. And as the name suggests, DeFi coins are a huge step forward in the cryptocurrency industry.
Instead of using traditional financial systems, DeFi operates on blockchain networks. This means that intermediaries such as banks become redundant. Trackable projects have been prepared with sponsorship, some of them – KangaMoon, Avalanche, Chainlink etc.
Is the Potential Return on DeFi Coins Greater than the Risk?
DeFi coins attract investors with the high returns they promise. Many DeFi projects can be successful, but not every project will take off.
High Potential Returns
The big appeal of DeFi coins is their ability to offer impressive returns on investments. Early adopters in the past have seen some jaw-dropping gains as the DeFi market has grown.
Innovation and Technology
Many DeFi projects are positioned for growth in blockchain technology innovation. New features such as smart contracts, liquidity provision and decentralized applications help make these projects more attractive than others.
Financial Inclusion
Aiming to serve people who cannot use traditional banking services is one of the main goals of DeFi. This mission alone will soon attract countless individuals who want to support something that will make a real impact.
Early Access
Taking full advantage of opportunities in the DeFi coin market requires involvement at the earliest possible stage. Being there from the beginning places investors at the forefront of breakthrough technologies that will change everything.
Conclusion
This DeFi crypto list can guide you through this emerging industry, and while all these tokens are worth watching, one stands out. KangaMoon, whose future is uncertain. It is unclear whether this DeFi coin will be successful.
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*This article is not investment advice! This is sponsored (advertising) content. Cryptocurrency investments are high-risk investments and there is a risk of investment loss. Do your detailed research before investing!
