DeFi
Top 5 DeFi Cryptocurrencies Expected to Skyrocket in Value During Crypto Market Downturn
While the cryptocurrency market is struggling, DeFi projects are doing well. Today, we will look at five DeFi coins that could increase in value during a downtrend, opening up profitable opportunities for traders. These coins are DTX Exchange (DTX)Chainlink (LINK), Uniswap (UNI), Lido DAO (LDO), and Stacks (STX). Let’s find out why.
DTX Exchange (DTX): Exciting times ahead for this DeFi coin
First of all, we’re going to talk about DTX Exchange (DTX)a new DeFi project that has been making headlines recently. According to FOUR crypto spacesDTX Exchange is currently in the spotlight and exciting times lie ahead. Its ongoing presale has been exceptional, raising over $760,000 so far, with projections pointing to an increase to $1 million before the end of June 2024.
At its core, DTX Exchange combines the best features of CEX and DEX into one. With this hybrid trading platform, users can access over 120,000 asset classes like stocks, bonds, and cryptos with 1,000x leverage. Additionally, this platform does not perform KYC checks upon registration, which is a huge advantage over competitors like Coinbase, which lacks privacy.
The DTX utility token powers this platform and has several benefits for its holders, such as reduced trading fees and governance voting rights. Additionally, if someone purchases $100 worth of DTX during the presale, they will be entered into a $1 million giveaway. Ten lucky winners will walk away with $100,000 each thanks to this competition.
The price of this DeFi coin has so far increased by over 100% during its ongoing presale. Currently, it is in stage 2 and only costs $0.04. But its value will reach $0.06 once stage 3 begins – a 50% ROI if you buy it now. For all these reasons, market analysts predict that DTX will increase 100 times once it hits Tier 1 exchanges in Q3 2024. This makes it the best DeFi project right now.
Chainlink (LINK): A Major Force in the DeFi Market
Next, we will discuss Chainlink (LINK), a major DeFi project that is showing exciting developments. Notably, Chainlink announced Chain Swap has now integrated its CCIP programmable token transfers to enable cross-chain swaps across many networks. The Chainlink CCIP will also enable cross-chain swaps in Chain Swap’s Telegram bot.
With this bullish news about Chainlink, interest in this cryptocurrency could skyrocket. In this regard, the price of Chainlink cryptocurrency has increased by more than 120% in the last 12 months. Moreover, LINK is trading above its 100-day and 200-day EMAs with 18 green technical indicators. Therefore, market analysts predict that Chainlink will trade at $17 before the end of Q2 2024.
Uniswap (UNI): good news according to a major analyst
Uniswap (UNI) is another DeFi coin riding a bullish wave. Over the past 12 months, Uniswap price has increased by over 80%, according to CoinMarketCap DataCrypto analyst JJcycles States as UNI targets new local highs above $17.
The technical analysis of the Uniswap coin confirms this statement. For example, UNI is trading above its 50-day and 100-day moving averages while having 16 technical indicators in the buy zone. Due to all these factors, experts in the cryptocurrency space predict a rise to $13 during the second quarter of 2024 in their Uniswap price prediction.
Lido DAO (LDO): A Strong DeFi Cryptocurrency Right Now
In penultimate place, we will mention Lido DAO (LDO). According to CoinMarketCap dataLido DAO price has increased by more than 20% on the YTD chart. Crypto analyst RaizelXbt claims that LDO is a strong coin in the DeFi market. In his post X, This crypto analyst predicts that Lido DAO will reach $3 soon.
The technical analysis of the Lido DAO token is also showing some bullish signals. For instance, over 23 technical indicators are now showing buy signs for LDO as it trades above its 50-day and 100-day EMAs. For all these reasons, market analysts have made a bullish price prediction for Lido DAO to reach $4 before the end of Q2 2024.
Stacks (STX): Expected to Hit $10 This Cycle
Finally, we have to talk about Stacks (STX). This DeFi project has been shining on the price charts, increasing by nearly 150% in the last 12 months, according to CoinMarketCap data. Additionally, crypto analyst Sakemate States that Stacks price has the potential to reach $10 during this cycle.
The technical analysis of Stacks coin supports this claim. Notably, STX is trading above its 100-day and 200-day EMAs while having 18 technical indicators in the green. As a result, experts predict STX to trade at $2.52 in Q2 2024 in their Stacks price prediction.
Final remarks on the main DeFi projects right now
Even though the crypto market is not doing well, these five DeFi coins can still provide great opportunities for traders. However, one of them stands out: DTX Exchange. This rookie has a lower market cap and is tied to the $1.4 billion stock market. In other words, DTX will skyrocket much faster and higher than Chainlink, Lido DAO, Uniswap and Stacks.
To capitalize on its projected growth, use the links below to register for the DTX Exchange presale and purchase one of the best DeFi coins.
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