Standard Chartered is Setting Up Spot Crypto Trading Desk for Bitcoin and Ethereum – Five DeFi Coins To Follow

Global multinational banking and finance service firm Standard Chartered will soon introduce a spot cryptocurrency trading desk.

This new initiative will handle transactions from the Bitcoin (BTC) and Ethereum (ETH) blockchains. Standard Chartered is known for its investments in cryptocurrency and digital assets. With this new project, they are solidifying their position as one of the best financial institutions in the world. 

With the increasing adoption of cryptocurrency these five defi coins can follow, also analysts have revealed that these top DeFi coins could witness a rally in the coming weeks.

This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.

The DeFi market is already growing and is projected to hit $100B in 2024. Among the experts’ list of DeFi coins to look for ahead of the market rally are Angry Pepe Fork, Avalanche, Uniswap, Stacks, and Injective. More details are below. 

Angry Pepe Fork – One of The Best DeFi Coins to Look for in 2024

Despite the array of DeFi projects springing up daily, none has the prospects of Angry Pepe Fork, for which analysts project a 20x rally in Q3. Backed by its unique Conquer to Earn feature, Angry Pepe Fork is a Solana-based meme coin on a mission to conquer zombie meme coins and reign supreme. It is a community-driven project that has gained much traction in the DeFi market.

Backed by its battalion of armies, Angry Pepe Fork will destroy zombie meme coins causing havoc in the blockchain. In return for showing bravery in the conquer-to-earn quest, individuals will become top members of the community and be given various rewards. Members of the APORK ecosystem are rewarded through the staking model, which will be live at the presale. 

As more zombie meme coins are defeated, the APY of the APORK army surges, boosting users’ profits. Barely a few days after starting the presale, the ecosystem is witnessing massive adoption. Some analysts linked its bullish momentum to its community-driven approach. Within a few days of the presale, the team has raised over $160k, which could hit $1M soon. 

The Angry Pepe Fork native token, APORK, is sold for $0.014. New buyers receive a 10% bonus. As such, now is the best time to accumulate the DeFi coin. Surprisingly, Angry Pepe Fork has a fixed supply of 1.9B, which is similar to Bitcoin’s 21M total supply. 

Avalanche – The Blockchain Solution to Scalability, Security, and Decentralization

Avalanche (AVAX) is a top blockchain platform that aims to resolve blockchain problems associated with scalability, security and decentralization using its proof of stake mechanism. Avalanche supports smart contracts to work on several decentralized apps on its platform.

AVAX is the native token of the Avalanche ecosystem and is used to process transactions quickly and securely. Moreso, it serves as a means by which active members receive system rewards and also partake in key governance decisions.

Despite the recent market correction, Avalanche price is gradually advancing towards the recovery phase. According to Planfomo, a crypto expert, Avalanche is forming a head and shoulders pattern with the AVAX price having broken its neckline. If the setup plays out as expected, the analysts project a rally toward the $20 to $21 mark.  Even though Avalanche market sentiment is bearish in tally with what Planfomo said, it is still a good DEFI token to look for.

Uniswap – The Decentralized Exchange Revolutionizing Cryptocurrency Trading

Uniswap is one of the biggest DeFi projects in the world. It was launched in 2018 and hosted on the Ethereum blockchain. The Uniswap market cap is worth around $6 billion and ranks 17th in the market according to CoinMarketCap. The top DEX exchange is powered by the UNI token, which is its native token. As one of the top DeFi coins in the market, traders can use it to make various payments on the network. 

Regarding market performance, Uniswap is one of the DeFi tokens that witnessed a rally even in the midst of the market downturn, pushing the token price above $13 for the first time in over a year. However, the token has declined since then, struggling to hold support at the $10 mark. Although analysts project a resurgence, the declining Uniswap trading volume and market cap are a source of concern. 

Zooming in, the technical analysis shows that Uniswap is trading above the 50-day and 200-day EMAs. However, other key market indicators such as the RSI and MACD are neutral. Even at that, analysts are optimistic of a rally soon. With the growing number of users of the DEX exchange, UNI is one of the best DeFi coins to invest in.

Stacks – The Ultimate Blockchain Platform for Smart Contracts and DeFi

Stacks (STX) is a DeFi project that wants to use Bitcoin to unleash the power of smart contracts and dApps. The stack project was launched in 2020 and designed as a layer-1 solution that uses Bitcoin as a base layer.

The STX token powers the connection between Stacks and Bitcoin via the Proof of Transfer model. However, the DeFi coin can’t be used to publish new contracts or make payments on the platform. Stacks also uses a burn mechanism to regulate the price of the token.

In terms of market activity, the Stacks trading volume has dipped in the past few days, according to CoinMarketCap data, which shows holders are doubling down. However, while Stacks price grew by 101% in the past year, it sank by 25% in the past month. The technical analysis shows that Stacks is currently trading below the 50-day and 200-day SMA and the market sentiment is bearish. Even at that, analysts pick it as one of the best DeFi coins to invest in 2024. 

Injective – Revolutionizing DeFi with Layer-One Blockchain Technology

Injective (INJ) is an excellent interoperable layer 1 blockchain designed to build DeFi applications. It does this by providing a robust infrastructure that allows developers and DeFi users to be more inclusive in ecosystem activities.

Injective uses its unique INJ token on the platform. The aim of the native currency is to provide a transparent and efficient trading platform for everyone. The token can also be used as a security and governance token. To reduce the total supply of the INJ token, there is a deflationary mechanism.

Having hit the $52 mark in March, Injective market performance since then has been worrisome. As per CoinMarketCap data, the Injective price dipped 23% in the past month but gained 2% some days ago. A further look at the Injective price chart shows that both the market cap and trading volume are down. However, some analysts argue that Injective is in the corrective phase. As such, with the upcoming bull run, INJ is tipped to retest the $52 ATH in Q3. This puts it on our list of top DeFi coins to look for. 

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This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.