DeFi
Buy the Dip – Top 5 DeFi Coins Poised for a 5,000% Rally
The market has seen a decline recently, with the broader crypto market cap declining to $2.43 trillion based on chart data. As a result, many view this as an opportunity to diversify their holdings, in order to gain the greatest exposure to different projects and the best growth potential as the decline ends and a rally begins.
Today we will look at the top 5 DeFi coins that could potentially grow 100x after the next rally and could become market leaders in 2024 and beyond. Accordingly, we will take an in-depth look at KangaMoon (KANG), Chainlink (LINK), Uniswap (UNI), Maker (MKR), and The Graph (GRT). In the end, we will determine which is the best DeFi crypto to get into in 2024 for the biggest price gains.
KangaMoon (KANG): merging Social-Fi with P2E and implementing a community approach
KangaMoon (KANG) already has over 20,000 registered users and is dominating the charts even during the ongoing market correction phase, as its latest chart metrics show. Specifically, the KANG token value surged from a low point of $0.005 to $0.0196, indicating a 290% price increase.
Additionally, the pre-sale also raised over $6 million, and with the increased interest, demand, and appeal of its vast ecosystem, it has the potential to surpass $7 million by end of the month.
The KANG token has received considerable 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 approach. Here, KANG is used as a native crypto that allows anyone to purchase items, upgrade their in-game characters, and even access a marketplace where they can buy, sell, or trade NFTs.
KangaMoon also recently partnered with RaidSharks to boost a community and will offer a robust pool of monthly rewards to the most active participants. Based on all these aspects, analysts have an optimistic outlook for KANG’s future and predict a 5,000% price increase by the end of Q4 2024, making it one of the top projects Challenge.
Chainlink (LINK): enabling access to external data off-chain in a secure manner
Chainlink (LINK) is one of the most popular and powerful decentralized oracle networks used on Web3 because it allows smart contracts to access off-chain data feeds in a secure manner. Additionally, they can easily access web APIs, enterprise systems, IoT devices, cloud services, and even payment solutions or other blockchains. As a result, the platform allows blockchain platforms to interact with any external data in a secure manner.
As for Chainlink’s price performance, the crypto is up 95% year-to-date (YTD), and at this rate, it could see much more substantial gains. Additionally, over the past week, Chainlink crypto rose from $13.81 to a maximum price of $15.61. Based on Chainlink price predictions, this crypto can end the fourth quarter of 2024 at a peak value of $21.21, positioning it as one of the top DeFi projects.
Uniswap (UNI): using smart contracts to power an automated liquidity protocol
Uniswap (UNI) is a popular decentralized exchange (DEX) that uses the power of blockchain-based smart contracts to facilitate the decentralized exchange of different types of digital assets. Cryptocurrency pairs are traded through the use of liquidity pools, which automatically rebalance after each transaction through smart contract integrations.
Over the past year, Uniswap’s price has increased by 36%. Additionally, over the past week, the Uniswap crypto price has surged from $7.55 to a high of $8.28, and at this rate, it may soon break the major price barrier of $10 to reach new heights. According to Uniswap price predictions, it could end 2024 at a value of $12.20, which would make it one of the best DeFi projects to get into.
Maker (MKR): the native cryptography of the Maker protocol used for governance
Maker (MKR) is the native crypto of the Maker protocol which uses the ERC-20 token standard. As for the protocol, it is a decentralized finance (DeFi) project also known as the Multi-Collateral Dai (MCD) system. It allows users to leverage their assets to generate a community-run cryptocurrency that tracks the price of USD, known as DAI. Additionally, the Crypto Maker acts as a governance token, so its holders have the ability to vote on the future development of the protocol and even on proposals affecting the use of Dai.
Looking at Maker price performance, the crypto is up 295.8% year-to-date (YTD). Over the past week, the crypto has also risen from $2,797.86 to $3,135.65, indicating a major uptrend. According to the Maker price prediction, the crypto can end Q4 2024 at $4,470, positioning it as one of the top DeFi projects.
The Graph (GRT): indexing blockchain data required for creating a dApp
The Graph (GRT) is an indexing protocol for Web3 used for organizing data and providing access from blockchains and storage networks. With it, developers have the ability to search, find, publish and even use all the public data they need for decentralized application (dApp) development.
Over the past year, The Graph’s price has increased by 79%. Additionally, The Graph crypto rose from $0.248 to $0.307 over the past week and is now aiming to breach the $0.35 price barrier in order to reach new highs. According to The Graph’s 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 metrics on the chart, it is clear that most of the crypto market is currently undergoing a period of price correction, during which some altcoins have seen their prices decline. However, it also serves as a great entry point for traders looking to diversify their holdings, and Chainlink, Uniswap, Maker, and The Graph all have positive metrics on the chart and can increase in value. However, the biggest gains can be made by the KangaMoon crypto, as it is still in the early pre-sale stages and has a huge growth potential of 5,000% in 2024.
Discover the exciting opportunities of the KangaMoon (KANG) presale today!
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