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The pioneering DeFi project: Ethereum The DeFi ecosystem owes its existence to the launch of the Ethereum network in 2015. Ethereum introduced smart contracts, which enabled developers to create decentralized, programmable, secure and self-executing financial services. to build. In this sense, Ethereum is not a DeFi project itself, but a layer to develop the other DeFi projects. On the contrary, despite Ethereum being the first DeFi asset, it still takes the dominant share of 60% in the market.2 While Ethereum has set the pace, there are new DeFi projects leading the innovation. These are some of the promising projects that investors should keep an eye on in 2024. KangaMoon: Revolutionizing Earning
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Passive earnings are one of the features that have made the DeFi space very popular. KangaMoon (KANG) is one of the new DeFi projects taking it to the next level with a new social-fi concept. Social-fi is a new concept that rewards users based on their social engagement and networking activity. Using social-fi, KangaMoon is on a journey to build the most active meme community by offering members a variety of earning opportunities. KangaMoon users can earn tokens and in-game stuff by participating in battles and tournaments. Non-participants can participate by betting on matches to win important prizes. This new concept has made KangaMoon one of the fastest growing top DeFi coins. The growth rate of KangaMoon is further highlighted by the project rising by more than 50% in the past week. While KANG is now valued at $0.0075 per coin, crypto experts have set a 2024 price target of $0.50, making KangaMoon a must-have DeFi token. has climbed the decentralized cryptocurrency list with its unique network. Ribbon Finance has become one of the leading platforms for finding structured crypto products and financial strategies. This DeFi project offers derivatives, lending and an on-chain option exchange to help users increase their portfolio’s risk-return profile. As the project grew, so did the DeFi coin price, increasing by an impressive 130% in 2024. This gain is expected to continue throughout the year. Decentralized Exchanges (DEX)dydx: Enabling perpetual trading dydx has emerged as one of the leading DEX due to its support for perpetual trading. This powerful trading platform adds to its advanced trading options, low fees, deep liquidity and up to 20× leverage. In addition to its strong fundamentals, dydx will migrate to its own chain in the coming months, giving the DeFi price room for growth. Many crypto experts predicted a 2-5x gain for the DYDX DeFi coin in 2024. Osmose: A Next Generation DEXOsmose is a DeFi project that uses Cosmos’ innovative Inter-Blockchain Communication (IBC) to build a decentralized exchange for the future. Osmosis also offers automated market maker (AMM) features to improve liquidity on its DEX. Thanks to IBC, the exciting features of Osmosis can be bridged to other chains, expanding OSMO’s potential. As the native DeFi token of one of the largest DEX platforms, the price of OSMO has been predicted to experience a parabolic rise in 2024. year smart contracts were introduced. In addition to being one of the most advanced lending and borrowing protocols, Maker offers a new-generation blockchain-based banking system. Maker also solves crypto’s volatility issues by stabilizing its value against the US dollar. Because of its unique mindset, Maker has become one of the top DeFi coins. With adoption of the protocol only growing, MKR is poised to see gains in 2024. Compound: The leading algorithmic lender Compound Finance (COMP) offers services similar to Maker, but makes it more accessible to everyone in the DeFi market. In addition, Compound offers asset support, no credit check, and adjustable interest rates, making it even more unique. On the Compound protocol, users can contribute assets to the liquidity pool of the protocol to lend against their given collateral or earn interest. Compound has experienced one of the biggest TVL jumps, setting COMP up for big gains in the Payment SolutionsSei: A Leader for Optimizing TradeSei (SEI) is one of the new DeFi projects that has gained popularity for its unique offerings. Sei is application specific, unlike most DeFi projects that offer multiple functions. The concept of the project will be a very fast and low cost project. Sei’s first and foremost goal is to maximize trading activity for its users. Such specialization has brought success to the DeFi product, as its TVL has risen to more than $17.5 million at the moment. The Sei DeFi coin price was really inspiring, with a 10x growth in a year. Pyth Network: The future of blockchain oracles Pyth Network (PYTH), being a speed-focused oracle system, is designed to connect traders and exchanges with its users, providing them with top-notch real-time market data. Gradually but proportionally, Pyth is on its way to being one of the leading oracle services in the market. Pyth has been amazing in the financial services sector. The price of this DeFi coin is rising and reaching the peak for February at around 75%. Even if the demand for Pyth’s oracle is set to grow in 2024, the price of the altcoin is expected to rise as well. You can learn more about the KangaMoon (KANG) presale by visiting its official website or by joining the Telegram community. Discover the exciting opportunities of the KangaMoon (KANG) presale today!Sources: https://defillama.com/.https://www.linkedin.com/pulse/digital-asset-markets-part-5-ethereum-dominates- must -scale-tv3wf/?trk=article-ssr-frontend-pulse_more-articles_related-content-card Disclaimer: The above content is non-editorial, and TIL hereby disclaims any and all warranties, express or implied, with respect to the same. TIL does not guarantee, endorse or necessarily endorse any of the above content, nor is it responsible for it in any way whatsoever. The article is not investment advice. Please take all necessary steps to ensure that any information and content provided is correct, updated and verified.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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