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Thailand's first Bitcoin ETF was approved by its SEC, a landmark event. This move alone could change the whole game for cryptocurrencies everywhere. That being said, here are the top DeFi coins that could surge in June 2024: DTX Exchange (DTX), Ethena (ENA), Chainlink (LINK), Avalanche (AVAX) and Fantom (FTM).
DTX Exchange (DTX) is turning heads in the DeFi market with impressive results during its ongoing presale. To clarify, the DTX presale has been an enormous success so far, having raised over $600K and being on pace to hit $1M before June 2024 ends. Also, those who bought this DeFi coin early on are now enjoying a 100% ROI—outstanding growth very quickly.
By merging centralized and decentralized exchange features, DTX Exchange sets itself apart from other platforms. In doing so, it allows users access to an extensive range of assets—over 120K—while providing leverage up to 1000x. Moreover, DTX Exchange focuses on privacy by eliminating sign-up KYC checks, which appeals most to privacy-concerned individuals.
The DTX token serves as the foundation stone 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 buy $100 of DTX in its presale will automatically enter a $1M giveaway where ten lucky traders win $100K each.
This DeFi coin's price is $0.04, a 100% rise from its start of $0.02. However, this is a Stage 2 presale value, and it will jump to $0.06 once Stage 3 begins. Furthermore, DTX's long-term growth potential is stellar, as the bonds market was valued at $133T in 2023. Market analysts forecast a potential 50x surge once a Tier-1 CEX lists DTX in Q3 of 2024.
Next, we will discuss Ethena (ENA), a DeFi token that has been making headlines in this market. For instance, Ethena recently announced its new partnership with BounceBit. Thanks to this development, users can stake BBUSD to earn sUSDe yield while continuing their Bitcoin exposure.
This Ethena news could cause interest in this crypto to rise. The Ethena crypto saw a price surge 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 the Ethena coin will trade at $1.23 within Q2 of 2024.
Chainlink (LINK) is another powerful force in the DeFi market. Recently, Chainlink announced that ZeroLend has upgraded to the Chainlink Price Feeds on Linea. With this development, ZeroLend will further enhance its ability to value a user's collateral while lending or borrowing accurately.
The value of the Chainlink coin has surged over 200% in the past 12 months. Furthermore, over 16 technical indicators are now in the buy zone for the Chainlink crypto. Due to all these Chainlink news and indicators, market analysts remain bullish. They forecast a potential surge to $22 for LINK before Q2 of 2024 ends.
In the second to last place on our top DeFi coins list is Avalanche (AVAX), which has been riding a bullish wave lately. CoinMarketCap data shows that the Avalanche price surged nearly 150% in the last 12 months. Crypto analyst Dan Gambardello claims that AVAX is one of the cryptos that could rule the upcoming altcoin season.
The technical analysis of the Avalanche crypto also supports this statement. 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 within Q2 of 2024.
Last, we will talk about Fantom (FTM), a DeFi coin currently riding a bullish wave. CoinMarketCap data shows that the Fantom price surged over 150% on the YTD chart. Crypto analyst Crypto Rand also made a bullish statement about this DeFi token. Notably, he states that Fantom is now pushing to breakout, according to his X post.
Additionally, over 29 technical indicators are in the buy zone for the Fantom crypto while it trades above its 100—and 200-day EMAs. Due to all these reasons, market analysts have made a bullish Fantom price prediction. In it, they foresee a rise to $1.20 for this DeFi crypto before Q2 of 2024 ends.
After the Thailand SEC approves a Bitcoin ETF, these five DeFi coins will give us an amazing June and beyond. However, DTX Exchange stands out among Ethena, Chainlink, Avalanche, and Fantom. This rookie has a low market cap and ties to many trillion-dollar financial markets. Therefore, DTX will rise faster and higher than the rest of these DeFi projects.
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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.
