DeFi
Thai SEC Approves First Bitcoin ETF; Here are the five DeFi coins to watch in June
Thailand’s first Bitcoin ETF has been approved by its SEC, a historic event. This decision alone could be a game-changer for cryptocurrencies everywhere. That being said, here are the top DeFi coins that could rise in June 2024: DTX Exchange (DTX)Ethena (ENA), Chainlink (LINK), Avalanche (AVAX) and Fantom (FTM).
DTX Exchange (DTX): the best DeFi project right now
DTX Exchange (DTX) is turning heads in the DeFi market with impressive results during its ongoing presale. To clarify, the DTX presale has been a huge success so far, having raised over $600,000 and being on track to reach $1 million before the end of June 2024. Additionally, those who have purchased this DeFi coin very early and now benefit from a 100% return on investment, representing exceptional growth very quickly.
By merging centralized and decentralized exchange functionality, DTX Exchange sets itself apart from other platforms. In doing so, it allows users to access a wide range of assets (over 120,000) while providing up to 1,000x leverage. Additionally, DTX Exchange focuses on privacy by eliminating registration KYC checks, which appeals most to privacy-conscious people.
The DTX token serves as the cornerstone for all activities on this platform. Holding this DeFi crypto will give you access to priority customer support, reduced trading fees, and governance voting rights. Additionally, all users who purchase $100 worth of DTX in pre-sale will automatically be entered into a $1 million giveaway where ten lucky traders will win $100,000 each.
The price of this DeFi coin is $0.04, a 100% increase from its start of $0.02. However, this is a pre-sale value of Stage 2, and it will increase to $0.06 once Stage 3 begins. Furthermore, the long-term growth potential of DTX is exceptional, as the bond market was valued at $133 trillion in 2023. Market analysts predict a potential 50x upside once a Tier 1 CEX will list DTX in Q3 2024.
Ethena (ENA): new BounceBit partnership
We will then discuss Ethena (ENA), a DeFi token that has been making headlines in this market. For example, Ethena recently announced its new partnership with BounceBit. With this development, users can stake BBUSD to earn sUSDe yield while continuing their exposure to Bitcoin.
This news from Ethena could spark renewed interest in this crypto. The Ethena crypto has seen a price rise of over 40% in the past year alone. Additionally, 16 technical indicators are in the buy zone for this DeFi coin. As a result, experts in the crypto field predict that Ethena coin will trade at $1.23 in the second quarter of 2024.
Chainlink (LINK): ZeroLend upgrade
Chainlink (LINK) is another powerful force in the DeFi market. Recently, Advertised channel link which ZeroLend upgraded to Chainlink Price Feeds on Linea. With this development, ZeroLend will further improve its ability to assess a user’s collateral while lending or borrowing accurately.
The value of Chainlink coin has surged over 200% in the last 12 months. Additionally, over 16 technical indicators are now in the buy zone for Chainlink crypto. Due to all this Chainlink news and indicators, market analysts remain optimistic. They predict a potential rise to $22 for LINK before the end of Q2 2024.
Avalanche (AVAX): Dan Gambardello remains optimistic
In the penultimate place on our list of best DeFi coins is Avalanche (AVAX), which has been riding a bullish wave of late. CoinMarketCap data shows that the price of the Avalanche has jumped nearly 150% over the past 12 months. Crypto analyst Dan Gambardello claims that AVAX is one of the cryptos that could rule the next altcoin season.
Technical analysis of the Avalanche crypto also supports this claim. Notably, AVAX is trading above its 50 and 100 day EMAs while having 10 technical indicators in the green. Experts take note of all these signals when making their Avalanche price predictions. Therefore, they predict that this DeFi coin will have a value of $47 during the second quarter of 2024.
Fantom (FTM): a major analyst predicts a breakout
Finally, we will talk about Fantom (FTM), a DeFi coin that is currently riding a bullish wave. CoinMarketCap data shows that Fantom price has surged over 150% on the chart since the start of the year. Crypto analyst Crypto Rand also made an optimistic statement about this DeFi token. He states in particular that Fantom is now striving to break through, according to his post.
Additionally, over 29 technical indicators are in the buy zone for the Fantom crypto as it trades above its 100 and 200 day EMAs. For all these reasons, market analysts have made a bullish forecast for Fantom price. In it, they forecast a rise to $1.20 for this DeFi crypto before the end of the second quarter of 2024.
Final Thoughts on the Top DeFi Projects in June
Once the Thai SEC approves a Bitcoin ETF, these five DeFi coins will give us an incredible June and beyond. However, DTX Exchange stands out among Ethena, Chainlink, Avalanche and Fantom. This rookie has a low market capitalization and is linked to many financial markets worth billions of dollars. Therefore, DTX will rise faster and higher than the rest of these DeFi projects.
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the site could potentially be scams, i.e. designed to trick you into investing financial resources that could be lost forever and not recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investment. Learn more here.