The crypto market met more than what it bargained for in April, with the big chunk of the March gains reversed. Many cryptocurrencies underwent a monumental decline with Bitcoin reversing to $65k having hit $73 in the previous month. Even the hyped Bitcoin halving didn't lift the mood as many tokens plundered down the drain.
However, the good time is coming and the crypto market will rise again. Pending the time of the rise, this time of the dip is a huge opportunity to purchase solid tokens at a low price. With an impressive track record of performance, the following tokens are expected to pick up in the month, bringing back the highs of March. Looking at their fundamentals and potential for growth, KangaMoon, Aave, Jupiter, Injective, and The Graph are some of the best DeFi projects to take a look at.
The evolution of DeFi tokens has reached a new level with KangaMoon (KANG) bringing a new spectrum of innovation. KangaMoon is designed to be a game changer in the gaming market by merging elements of play-to-earn and social interaction into a standalone DeFi token. Not only is KangaMoon having an actual utility that distinguishes it from the rest, but the token is also a community-driven one with members having a high stake.
The KangaMoon ecosystem comprises DeFi, NFTs, and a gaming battle arena. Players earn massively through in-game battles that are conducted every week, month, and quarter of the year. As such, there are many reward pecks available to win. About 150,000 of the KANG tokens are allocated as rewards for in-game success with another 100,000 tokens reserved for prizes and giveaways.
Already, the platform has registered participants exceeding 20k and more than 6k holders and is currently on the path of raising $7 million in presale. Similarly, early buyers have earned a massive 290% profit, with the current selling price being $0.0196. However, KangaMoon's potential far outweighs its past achievements. For example, the token has a high stake in the NFT market, ready to hit the $200 billion industry.
With such a promising future, now is the best time to jump into the KangaMoon project. As the project moves into the next phase which is token listing, new investors can be part of a growing ecosystem with the capacity to return 5x ROI in Q2 2024. By all standards, KangaMoon projects the future of DeFi gaming and investors should quickly add this DeFi token to their wish list for huge growth in 2024.
The next token on our list of best DeFi coins is Aave. Launched in 2017, Aave is the leading borrowing and lending protocol, projecting the future of decentralized finance. In the 2021 bull run, Aave price was a force to reckon with, racing to an all-time high record of $666. With a rich history as a DeFi protocol, Aave robust community is an added advantage that may shape its direction in the next few months.
While the market is down, the Aave community is fervently projecting the image of the protocol with innovation, partnership, and upgrades. Key events such as the anticipated approval of the Ethereum ETF are also expected to trigger a massive rally for the Aave coin in the bull market.
Meanwhile, the Aave trading volume and market cap have witnessed a massive rise in the past weeks before the market retracement. With the heightened interest in the Aave protocol by developers, users, and enthusiasts, the Aave price could shoot up to $200 in June, making it one of the top DeFi coins to keep an eye on.
Jupiter is one of the strongest Solana-based DeFi protocols, acting as a liquidity aggregator for many platforms. However, Jupiter has gone beyond an aggregator platform, incorporating a host of features such as DEX aggregator, Dollar-Cost Averaging (DCA), and future trading into its functionalities. The prospects of Jupiter project it as one of the best DeFi cryptos that should be massively accumulated.
In the latest Jupiter news, The platform is planning to develop a stablecoin that would rival the two renowned stablecoins USDT and USDC. Its proposed stablecoin SUSD will be fully backed by the Solana ecosystem and is intended to be more decentralized and interest-free. With this move by Jupiter, the future of the token is secured. As this groundbreaking innovation is developed, Jupiter will see more adoption that could pave the way for a huge rise in its token price.
Meanwhile, Jupiter's market sentiment in the past 90 days has been positive. From a $0.5 price point in early March, the Jupiter price rose to $1.79 in early April. The surge led to Jupiter's market cap exceeding $1.5B. With the latest Jupiter news, the token could break its ATH record in the coming weeks. A surge to $5 is in line in the month.
Another token investors should be accumulating in this dip is Injective, an Interoperable layer 1 blockchain powering the next generation of apps. The Injective network offers a host of services including derivatives exchange, lending protocol, and more. Injective provides core financial services, incorporating all sorts of financial markets such as spot, futures, perpetual, and options in its on-chain schedules. Injective thrives on a fast, fully decentralized, and cross-chain financial structure, allowing developers to build DeFi applications.
Although the Injective price has dropped in the past month, there are high hopes that it will surge in the coming weeks. Despite the market turbulence, the Injective trading volume has witnessed massive growth, indicating that INJ is getting traction among holders. With the current trend of tokenizing real-world assets, Injective is a leading light that is taking advantage of this trend. By projecting the future of decentralized finance, INJ is one of the DeFi cryptos that will shoot up soon.
The Graph is the last in the decentralized cryptocurrency list that can be a good investment for investors who buy in the dip. The network is used to index and query data for different blockchains. What makes The Graph stands out is that it allows anyone to build and publish an application programming interface (API) using GraphQL query language. As such, it deepens the development of DeFi and Web3 applications, enabling developers to build highly scalable web apps.
As one of the Ethereum-compatible protocols, the approval of Ethereum ETF could kickstart a turnaround of the GRT token. The Graph market cap is over $2 billion indicating that there is an absolute growth potential domiciled in the token. With broad expansion across 40+ blockchains, including layer 2 blockchains, The Graph is one of the DeFi projects that will shine in the bull market. Numerous Graph price predictions are signaling a surge to the $1 mark before the end of Q2, making it one of the DeFi tokens to invest in now.
Although the intense bearish sentiments have affected many DeFi tokens, the next phase is expected to usher in the bull market. As such, this article has made investors’ work easier by highlighting the top DeFi coins that should be purchased now that the market is dipping. By accumulating these tokens, investors could be on their way to resounding success in 2024.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.