Decentralized finance is a system that allows operations without any central authority and uses blockchain technology to manage its payments. Because of the anonymity and affordable transfer fees, many investors prefer DeFi tokens for transactions. From staking to borrowing, DeFi is already one of the fastest-growing sectors of Web3. With the bull run on the way, analysts have looked into the best DeFi coins to watch out for in April. These coins could return as high as 10x profits in the month.
5 Top Defi Coins To Buy Now
KangaMoon
Token symbol: $KANG
Market Cap: 19M
Total Value Locked: Not Available
Chains: Ethereum
What is KangaMoon?
The KangaMoon project will integrate the social-fi model and NFT gaming features to develop a community for meme enthusiasts. On the platform, users can engage in weekly, monthly, and quarterly challenges and earn rewards and prices. The Play2Earn feature allows gamers to build their characters and unique abilities, connect with players worldwide, and challenge them in fights to test their skills.
Every challenge on the platform is a chance to win and every victory counts and translates to real-world values and returns. Outside of playing games, users can also speculate on the outcome of matches and earn returns. Token holders can earn more KANG when they join to promote the project on social media.
The KangaMoon is currently in the 5th stage of the presale, with the KANG token sold for just $0.0196. Early buyers have gotten a 290% ROI, and analysts project more in the coming months. Meanwhile, the KANG token is set to hit CEX exchanges in Q2. As such, analysts have projected 100x rallies in the coming weeks, which could see the KANG price hit $0.5 in Q2.
So far, the team has raised more than $4.5M in the presale, with analysts projecting $6M before the end of the month. At the current trajectory, KangaMoon is on the path to becoming a blue-chip crypto. As such, now is the best time to invest in this top DeFi coin and benefit from the rally.
Uniswap
Token Symbol: UNI
Market Cap: $6.8 Billion
Total Value Locked: $6.35 Billion
Chains: Ethereum, Arbitrum, Polygon, Optimism, Celo
What is Uniswap?
Uniswap is one of the top DeFi exchanges that operate on the Ethereum blockchain. The Uniswap platform is open source, which means anyone can code to make their own decentralized exchanges. Unlike other profit-driven exchanges that have high transaction fees, trading on the Uniswap exchange is affordable. UNI, which is the native token of the Uniswap platform, is used for all transactions on the blockchain.
Meanwhile, the Uniswap price dropped by a significant 18% in the past month as the crypto market correction continues. While the coin gained a slight 2% in the past week, the token price chart is not convincing.
The Uniswap Moving Average Convergence (MACD), however, indicates a huge buying pressure. As such, there is a high chance of a resurgence soon. With analysts expecting the DeFi market to boom in April, top DeFi tokens like Uniswap are tipped to head the rally.
Internet Computer
Token symbol: $ICP
Market Cap: $7.8 Billion
Total Value Locked: $38.94 Million
Chains: Ethereum, Solana
What is Internet Computer?
The Internet Computer (ICP) is a DeFi network of many sub-blockchains that aims to expand how the public Internet functions via a cloud model. The Internet computer allows for a more transparent and secure platform that hosts many applications in a single ecosystem.
Aside from providing a decentralized architecture for the Internet, ICP allows low transaction fees and quick trading on their platform.
In terms of market performance, Internet Computer made the list of our best DeFi tokens to buy in April. The coin’s price witnessed a 16% growth in the past month. The coin has a market cap of $7.6B and a 24-hour trading volume of $159M. Although the general crypto market is witnessing a retracement, analysts are optimistic of a rally for ICP in the coming weeks. Internet Computer have a strong community. As such, a surge to $30 is likely possible in April.
Lido DAO
Token symbol: $LIDO
Market Cap: $2.5 Billion
Total Value Locked: $34.8 Billion
Chains: Ethereum, Solana, Moonbeam, Terra Classic
What is Lido DAO?
Lido DAO (LDO) is one of the top DeFi coins in terms of Total value Locked. With a TVL of $34.B, Lido DAO has established itself as a top player in the DeFi market. The decentralized autonomous organization provides a staking infrastructure for multiple blockchain networks. Users can stake cryptos in the staking pools and unstake them any time they want.
So far, Lido DAO has performed excellently in the past weeks to make our list of top DeFi tokens to invest in the market. Data from CoinMarketCap shows that Lido DAO price has increased by a slight 5% in the past week. Meanwhile, the Lido DAO price tested the $3.5 mark in the last few weeks but failed to break through. However, the upcoming bull market presents another opportunity for a retest. With the high demand for DeFi tokens, Lido DAO price might hit $10 in April.
Injective
Token symbol: $INJ
Market Cap: $3.1 Bllion
Total Value Locked: $72.43 Million
Chains: Ethereum, Solana
What is Injective?
The Injective blockchain is a decentralized, interoperable, and environmentally friendly platform for defi applications, including derivative exchanges and lending protocols. The platform provides advanced, next-generation financial infrastructure for building Decentralized finance applications on the Blockchain. The INJ token is the native token that is used to conduct transactions on the Injective ecosystem.
Meanwhile, the Injective trading volume is witnessing slight growth. While the coin price has dropped significantly in the past month, the increasing trading volume could trigger more rallies in the coming days. As such, the Injective token could break the $50 resistance trendline in the coming days. Having hit the $50 mark in the past weeks, analysts believe that the next rally will push the token to set a new ATH record.
How to Identify a Good DeFi Coin?
There is a high demand for DeFi tokens in the crypto market. However, not all DeFi coins are profitable in the long term. One factor to consider when searching for top DeFi coins is liquidity and community. Tokens with high liquidity and a strong community tend to perform well in the long term.
For instance, Internet Computer users committed $6.5M ICP tokens worth over $16M to the platform’s decentralization efforts in 2023. Also, since Ethereum is a popular blockchain and many DeFi projects run on It, new investors can buy Ethereum. Investors can also read the crypto ICO white paper and study the market chart before investing.
Conclusion
The above tokens are our picks of the best DeFi tokens to invest in the year. Most of these coins have high TVL and have established themselves as a top player in the DeFi market. When choosing, it is good to do more research before investing. KangaMoon is the only presale token that made the cut and is very new in the market. However, its strong utility, surging momentum and low price cap make it worth investing. As such, we recommend you check it out.
Explore the thrilling opportunities available in the KangaMoon (KANG) presale today!
Website: https://KangaMoon.com/
Join Our Telegram Community: https://t.me/KangaMoonofficial