KangaMoon, Chainlink, Avalanche, Fantom, and Lido DAO Positioned to Rally Ahead of Ethereum ETF Approval

With Ethereum going from less than $3k to almost $4k within a week, the DeFi market is currently bouncing with many DeFi tokens already turning bullish.

Standard Chartered, a leading bank, anticipates the approval of the Ethereum ETF this week, a move that could trigger further rallies for the Ether coin. As Ethereum surges from less than $3k to almost $4k within a week, the DeFi market is abuzz with many DeFi tokens turning bullish. Among these are KangaMoon, Chainlink, Avalanche, Fantom, and Lido DAO.

According to analysts, this bullish trajectory is just beginning, and the market is set to witness a high volume of surge in the coming weeks. For investors who want to profit from the impending surge, the above tokens represent the best bet. With a strong focus on ecosystem development, these tokens can be suitable for long-term growth.

KangaMoon Price Sets For Upward Review As Listings Nears

In this decentralized cryptocurrency list, KANG is one of the best new DeFi tokens that have been on top traders’ watchlists. Despite hitting the market some months ago, KangaMoon has outperformed many competitors as investor attraction continued to soar. The platform currently has a user base that is more than 32,000 with active holders nearing 10,000.

At presale, the project has raised close to $7 million with plans to close May with $8 million in presale funding. Additionally, investors have been blessed with significant returns from the token increases. At present, early buyers have earned a 400% increase after the price surged to $0.025.

Going back to the fundamentals, KangaMoon combines two unique selling points in GameFI and SocialFi, enabling users to participate and earn from both avenues. For playing games and completing social tasks, users earn from the 250M in-game tokens mapped out by KangaMoon. After earning or purchasing the token, users/investors can choose to stake their assets for specific days and earn multiple bonuses along the line.

As the platform gets closer to listing across exchanges, the interest in KangaMoon has skyrocketed. With KANG currently worth $0.025, analysts are predicting a potential surge of 1000%, making it one of the new DeFi projects that can give such ROI. While there is no launching date yet, KangaMoon’s first listing has been confirmed on BitMart with other tier 1 CEX platforms set to follow. With the token now appearing on Coingecko and CoinMarketCap, KANG is a DeFi cryptocurrency with a good chance of hitting $1 in 2024.

Chainlink Price Hints At a Surge to $20

With the value of many digital assets soaring in the week, Chainlink was one of the highest movers, climbing by 21%. Across the past year, Chainlink has moved upward by 150%. Not only are the price moving, but Chainlink’s other key metrics are surging exponentially. For example, Chainlink’s market cap is on the verge of hitting $10 billion thanks to the newfound momentum.

Although the token dropped a bit in the trading volume, Chainlink’s price still holds itself firmly at the $16 resistance trendline. Considering the Chainlink market indicators, Chainlink market sentiment is generally bullish with a Fear and Greed Index value of 76 (Extreme Greed). Although the token volatility remains high at 75%, the token may be set for stability soon.

With the token breaking out of the $16 threshold in the past week, the coast seems clear for a major rally in the coming weeks. While the Chainlink coin may not match its 2021 price of $52, there is optimism that the next few months could usher in massive progress. As a result, analysts have made a bold Chainlink price prediction of $20 by the end of the month.

Avalanche Token Makes Upward Move

After an initial stagnation at the $35 mark, Avalanche has seen a turnaround after going past $40. The token has been a hit since the start of the month having moved up by a slight 2%. The upward momentum became more visible in the past week as the token jumped by 16%. While the Avalanche trading volume suffered, the token made a redemption in the market cap, setting eyes on $16 billion.

With its vast ecosystem that includes GoGoPool, XANA, and WAGMI, Avalanche has built an array of partnerships in the decentralized finance market. As for the price, the latest bullish rally has seen some of the Avalanche long-term holders coming back. With the token set to turn the $40 threshold into a support zone, the next few weeks will indicate the true potential of AVAX.

A look at the Avalanche market indicators also suggests that the token is within the grasp of the bulls. Having traded above the 50 and the 200-day moving average, the token may be set