DeFi
JPMorgan predicts volatility for Bitcoin in July as traders turn to DeFi coins
Bitcoin Could Face Turmoil in July Due to Mt. Gox Creditors, JPMorgan Says Traders Are Shifting to DeFi Coins
JPMorgan said that Bitcoin could have a turbulent July due to continued liquidations by Mt. Gox creditors, which could lead to significant selling pressure. Thus, traders are instead focusing on DeFi coins, those that can appreciate in value. For example, DTX Exchange (DTX)Fantom (FTM), Avalanche (AVAX), THORChain (RUNE) and Chainlink (LINK).
DTX Exchange (DTX): The DeFi Cryptocurrency with the Greatest Growth Potential
In the DeFi market, DTX Exchange (DTX) is making a name for itself. It has already raised over $800,000 through its presale. In fact, the presale is expected to reach $1 million by July 31, 2024, according to estimates. The project has even attracted a renowned crypto analyst Crypto Gemswho said it could be one of the biggest players in the market.
What sets it apart from other exchanges is that DTX has created a hybrid trading platform. On this platform, traders have access to over 120,000 asset classes, such as bonds and cryptos, all under one roof. This adaptability, coupled with leverages up to 1,000x higher than any other exchange, puts them on the path to massive expansion in a short period of time.
The core of the DTX Exchange ecosystem revolves around its utility token, DTX. By holding this DeFi coin, you gain governance voting rights and benefit from reduced trading fees. Additionally, if someone buys $100 worth of DTX during its presale, they are automatically entered into a $1 million competition, where ten lucky winners will each receive $100,000.
The price of this DeFi cryptocurrency is currently $0.04 as it is in Phase 2 of its presale. This is a 100% increase from its starting price of $0.02. However, its price will shoot up to $0.06 once Phase 3 begins, representing a 50% ROI for those who buy it now. Experts predict that DTX Exchange will increase 50x once a Tier 1 CEX lists it in Q3 2024, making it the most promising DeFi cryptocurrency.
Fantom (FTM): Still a Decent DeFi Project
Next up, we’ll mention Fantom (FTM), a major force in the DeFi space. According to CoinMarketCap DataFantom’s price has increased by nearly 90% in the past year alone. Additionally, crypto analyst Altcoin Sherpa says its price is consolidating at a key level. His post X states that FTM will be a decent project in the future, thanks to its Sonic pivot.
The technical analysis of Fantom crypto is also showing bullish signs. For instance, FTM is trading above its 100-day and 200-day EMAs while having 16 green technical indicators. Thus, market analysts have made a bullish price prediction for Fantom – reaching $0.73 before the end of Q3 2024.
Avalanche (AVAX): ETF registration likely
Avalanche (AVAX) is one of the most prominent DeFi projects at the moment. Recently, analyst Quinten made a bold statement about this crypto. According to QuintenAvalanche is likely to file and approve an ETF next year. This would bring significant attention to AVAX, which could help boost its value.
Speaking of which, the Avalanche crypto price has increased by over 110% on the YTD chart. Moreover, this DeFi coin is trading above its 100-day EMA and has 16 technical indicators in the buy zone. Due to all these bullish news and indicators of Avalanche, experts in the crypto space predict its value to surge to $34 during Q3 2024.
THORChain (RUNE): Now Open Source
Our analysts have also tagged THORChain (RUNE) as a DeFi project to watch as Bitcoin crashes. Recently, THORChain announced that it has now become open source. With this development, this DeFi project becomes more transparent and brings innovation into this space.
Thanks to this optimistic news about THORChain, its value could increase again. Over the past 12 months, RUNE has seen an increase of almost 300%. In the meantime, about nine technical indicators are showing buy signals. Market analysts take all these factors into account when making their price predictions. Therefore, they predict that the THORChain coin will trade at $5.46 before the end of Q3 2024.
Chainlink (LINK): A Bold Statement
Finally, we will talk about Chainlink (LINK). This is one of the best DeFi projects recently. Over the last 12 months, Chainlink’s price has jumped by almost 150%, according to CoinMarketCap DataCrypto Analyst Kyle Chassé says that LINK will be one of the top five cryptocurrencies before the end of 2024. This is a bold statement that could make waves in the market.
The technical analysis of the Chainlink cryptocurrency supports this claim. Notably, LINK is trading above its 100-day and 200-day EMAs while having 20 technical indicators in the buy zone. As a result, experts are predicting a potential jump to $16 during Q3 2024 in their Chainlink price prediction.
Final thoughts on this month’s top DeFi coins
As July speeds up and with it Mt. Gox’s creditors, Bitcoin is potentially facing a stormy month. However, DTX Exchange, Fantom, Avalanche, THORChain, and Chainlink are also picking up steam. While most of them will surge, one stands out: DTX Exchange. This new DeFi project has a smaller market cap and is tied to the $133 trillion bond market.
In other words, DTX will climb much faster on the price charts while remaining more stable in the long term. If you are interested in buying this DeFi coin, sign up for the DTX presale using the links below.
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