Standard Chartered Expects Ether ETF Approval This Week; 5 DeFi Coins Projected To Surge in the Coming Weeks
The post Standard Chartered Expects Ether ETF Approval This Week; 5 DeFi Coins Projected To Surge in the Coming Weeks appeared first on Coinpedia Fintech News
Standard Chartered, one of the leading banks, expects the Ethereum ETF approval this week, a move that could trigger more rallies for the Ether coin. With Ethereum going from less than $3k to almost $4k within a week, the DeFi market is currently bouncing with many DeFi tokens already turning bullish. Top DeFi tokens that have joined the train of bullish activities are KangaMoon, Chainlink, Avalanche, Fantom, and Lido DAO.
Analysts opined this bullish trajectory is just starting and the market is set to witness a high volume of surge in the coming weeks. For investors who want to profit from the impending surge, the above tokens represent the best bet. With a strong focus on ecosystem development, these tokens can be suitable for long-term growth.
KangaMoon Price Sets For Upward Review As Listings Nears
In this decentralized cryptocurrency list, KANG is one of the best new DeFi tokens that has been on top traders watchlist. Despite hitting the market some months ago, KangaMoon has outperformed many competitors as investor attraction continued to soar. The platform currently has a user base that is more than 32,000 with active holders nearing 10,000.
At presale, the project has raised close to $7 million with plans to close May with $8 million in presale funding. Additionally, investors have been blessed with significant returns from the token increases. At present, early buyers have earned a 400% increase after the price surged to $0.025. Going back to the fundamentals, KangaMoon combines two unique selling points in GameFI and SocialFi, enabling users to participate and earn from both avenues.
For playing games and completing social tasks, users earn from the 250M in-game tokens mapped out by KangaMoon. After earning or purchasing the token, users/investors can choose to stake their assets for specific days and earn multiple bonuses along the line. As the platform gets closer to listing across exchanges, the interest in KangaMoon has skyrocketed.
With KANG currently worth $0.025, analysts are predicting a potential surge of 1000%, making it one of the new DeFi projects that can give such ROI. While there is no launching date yet, KangaMoon’s first listing has been confirmed on BitMart with other tier 1 CEX platforms set to follow. With the token now appearing on Coingecko and CoinMarketCap, KANG is a DeFi cryptocurrency with a good chance of hitting $1 in 2024.
Chainlink Price Hints At a Surge to $20
With the value of many digital assets soaring in the week, Chainlink was one of the highest movers, climbing by 21%. Across the past year, Chainlink has moved upward by 150%. Not only are the price moving, but Chainlink’s other key metrics are surging exponentially. For example, Chainlink’s market cap is on the verge of hitting $10 billion thanks to the newfound momentum.
Although the token dropped a bit in the trading volume, Chainlink’s price still holds itself firmly at the $16 resistance trendline. Considering the Chainlink market indicators, Chainlink market sentiment is generally bullish with a Fear and Greed Index value of 76 (Extreme Greed). Although the token volatility remains high at 75%, the token may be set for stability soon.
With the token breaking out of the $16 threshold in the past week, the coast seems clear for a major rally in the coming weeks. While the Chainlink coin may not match its 2021 price of $52, there is optimism that the next few months could usher in massive progress. As a result, analysts have made a bold Chainlink price prediction of $20 by the end of the month.
Avalanche Token Makes Upward Move
After an initial stagnation at the $35 mark, Avalanche has seen a turnaround after going past $40. The token has been a hit since the start of the month having moved up by a slight 2%. The upward momentum became more visible in the past week as the token jumped by 16%. While the Avalanche trading volume suffered, the token made a redemption in the market cap, setting eyes on $16 billion.
With its vast ecosystem that includes GoGoPool, XANA, and WAGMI, Avalanche has built an array of partnerships in the DeFi market. As for the price, the latest bullish rally has seen some of the Avalanche long-term holders coming back. With the token set to turn the $40 threshold into a support zone, the next few weeks will indicate the true potential of AVAX.
A look at the Avalanche market indicators also suggests that the token is within the grasp of the bulls. Having traded above the 50 and the 200-day moving average, the token may be set for a huge rise in the bull run-in. However, the trading charts also reveal that the token is overbought, indicating a potential for price reversal. With the bull run coming soon, Avalanche’s price may be set for a rise to $50.
Fantom Price Makes 22% Increase in 7 Days
Another DeFi coin that investors should be exploring for potential investment is Fantom. As a Layer 1 blockchain with a high stake in decentralized finance, Fantom has performed creditably since its launch in 2019 with its all-time high record of $3.48 coming in the 2021 bull run. With the general market downturn of the past months, the Fantom token has been unable to cross the $1 key threshold.
However, the newfound market momentum has pushed up the price of Fantom with the token earning a 22% increase in the last 7 days. In contrast, Fantom’s market cap has been plummeting, unable to climb above $3 billion. A closer look at the market outlook of Fantom reveals interesting scenarios. While the token has a 76 Extreme Greed value, FTM has an extremely low green days of 43% in the past 30 days.
The market sentiment is tending towards neutrality but the bulls are making efforts to push up the price of the token. However, Fantom could benefit from the impending Ethereum ETF approval which is now about 75% possibility. If this is granted, the market may experience a big spark with Fantom rising higher. As such, analysts predict a climb above $1 in this quarter.
Lido DAO Coin Sets For Huge Rise
Over the past week, Lido DAO has experienced significant surges as the market rebounds. Even though the Lido DAO ecosystem experienced a scare in one of its node operators, the platform has moved to swiftly fix the issue. Lido DAO has had an incredible movement of 26% in the past week as the token climbs above $2.
Despite this positive momentum, the Lido DAO coin has been unable to move past $2 billion in market cap. That’s why the Lido DAO market momentum has halted with the token tending towards bearishness. However, Lido DAO has seen 16 (53%) green days in the past 30 days, indicating that the token is still getting traction. With the bull run now on the horizon, Lido DAO is a top DeFi crypto with immense growth potential.
Conclusion
As the market moves steadily to the bull run, this is the best time for investors to accumulate top-notch tokens. By investing in quality tokens with strong fundamentals and high potential to grow, investors may earn a significant boost into their bag. However, investors should learn to conduct proper DYOR before settling for any token. This is necessary to avoid loss of investment.
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