Although crypto investment has always been a wild frontier, Doing Your Own Research and effective risk management are key to success. With the right guide, DeFi holds a lot of potential that can unlock the door to your financial freedom in 2024.
Fortunately, we’ve scoured the DeFi landscape and handpicked the huge potential renowned cryptos like Avalanche to top new crypto gems like Meme Moguls. Let’s unlock the potential of DeFi and find the diamonds worth investing in 2024.
Avalanche (AVAX): Interoperable Layer One Chain
For many reasons, Avalanche tops the list of the best DeFi crypto to invest in. The layer one decentralized blockchain features a unique scaling solution to upend the niggling blockchain trilemma.
Avalanche achieves this through its ingenious in-platform interoperable architecture that features the X-Chain, C-Chain, and P-Chain. Consequently, many developers prefer its low latency, high throughput, and super fast output of over 6,500 TPS to Ethereum’s inefficiency.
Avalanche has continued to pique everyone’s interest, posting three-digit gains in the past 30 days and over 100% growth in TVL ($940 million). The network is seeing a positive tick in user activities, with TVL, ecosystem development, and user activities shooting up.
Chainlink: Bridging Smart Contracts and Real-World Data
Another cryptocurrency worth every investor’s attention is Chainlink. The blockchain abstraction network has stood out with its decentralized Oracle interoperable network that connects smart contracts to real-world data. In fact, it has been instrumental in providing vital off-chain data to smart contrast and blockchain protocols.
Chainlink had an outstanding performance in the fourth quarter of this year. The recent launch of the Chainlink staking program to provide more use cases for LINK tokens has contributed to bullish speculations around the cryptocurrency. Currently, Chainlink is hovering around $16, about 68% from its all-time high of $52, with a market cap of $9.75 billion.
Meme Moguls: Meme-Backed Top New Crypto for Stock Trading and Exchange
Another cryptocurrency to buy in 2024 is Meme Moguls. The decentralized stock exchange platform aims to change the game for asset trading by ingeniously incorporating the newly found rave in meme and internet culture.
Meme Moguls’ vibrant ecosystem encompasses diverse features such as a fully decentralized order book, a wealth leaderboard, and meme-inspired assets, making it an enticing space for every investor.
At its core, Meme Moguls aims to level the playing ground for traders to access the next-gen trading tools, skills, and opportunities. The Meme Moguls ecosystem boasts a range of features, including the Moguls Casino, Exchange Trading Platform, Fantasy Trader, and a metaverse at Mogul Land.
The success of Meme Moguls in its ongoing presale has raised investors’ interest. This is because the protocol introduces a new financial era where regular investors can become moguls by earning passive income from staking, giveaways, and reward programs. In only a few days, the Meme Moguls token has almost doubled its launch price as demand soars. Currently, the token is trading at $0.0027 with over a million dollars in ICO valuation.
Aave: Decentralized Lending and Borrowing Protocol
Aave proffered solutions to the disadvantages of centralized banking services by providing accessible, low-interest, and transparent loaning services. As a result of Aave’s prominence, the value of Aave tokens skyrocketed past $8 billion in less than four years of launch.
This year, Aave stayed aloof with bullish sentiment and made a staggering 62% after the network’s V3 upgrade. Although Aave is still far from its all-time high price of $666.86, investors are sure of its comeback. Currently, Aave price stands at $120 with over 110% in YTD gain and over $6 billion in TVL.
Injective: True DeFi with Cross-Chain Liquidity
Completing the list is Injective, the decentralized DeFi network on Cosmos. Built with Cosmos SDKs, Injective leverages Cosmos’ interoperability to build a vibrant ecosystem for seamless margin, futures, and derivatives trading and passive earning opportunities. Like Meme Moguls, Injective champions as an important pioneer for improved trading experience.
Today, Injective houses a vast DeFi and dApp ecosystem, over $3.2 billion in market cap and $18 million TVL. Although its native token is generally bearish, it still holds over $3.2 billion in valuation. Recently, Injective announced its integration with Google Cloud’s CloudHub and multichain NFT marketplace, Dagora. This has improved the Injective token’s sentiment, and experts think it can rise further before the next bull run.
Conclusion
As experts predict a new bull season in 2024, investors are already exploring promising DeFi crypto with Avalanche, Chainlink, Meme Moguls, Aave, and Injective as the favorites. However, Meme Moguls steals the spotlight with its dynamic ecosystem. The ongoing presale’s stellar performance underscores the platform’s potential as the forefront investment, with unrivaled potential for over 100x return.
