As Donald Trump announces his intention to support the future of cryptocurrency if elected president in 2024, crypto enthusiasts remain optimistic. Cryptocurrencies like Bitcoin, Ethereum, Avalanche, Solana, and the new DeFi coin KangaMoon (KANG) are gaining momentum in the market.
KangaMoon: One of the top defi coins
The KangaMoon project is attracting increasing interest among cryptocurrency traders and DeFi enthusiasts. Over 32,000 people have already registered on the KangaMoon platform, which combines features of play-to-earn and social interaction protocols. The unique design of the KangaMoon project has proven to be both lucrative for players and entertaining for its growing community.
Currently, the KANG token is selling for $0.025 per token in the bonus stage of its presale, marking a 400% increase since the presale began. Experts predict that the KANG presale could generate an additional 700% in value before the token’s launch. While the exact launch date of KANG is still unknown, the project is preparing for a planned Q2 launch.
Additionally, the BitMart exchange has announced that KANG will soon be listed. The token is expected to gain popularity on other tier 1 centralized exchanges (CEXs) such as Binance and OKX. It is also anticipated to launch on the Uniswap decentralized exchange (DEX). In the meantime, KangaMoon has already been listed on CoinMarketCap and CoinGecko.
Traders can now purchase KANG during its presale for $0.025 per token. With the potential for a 700% price increase, buying KANG now could be a highly lucrative investment. Overall, KANG stands out as one of the most promising DeFi coins to buy, especially given its significant potential to become a blue-chip cryptocurrency in the near future.
Bitcoin trading volume surges amid Donald Trump’s promise
During his speech at the Libertarian National Convention, Donald Trump reaffirmed his support for the cryptocurrency industry, expressing a positive and open-minded outlook on its future. He criticized President Biden’s attempts to undermine Bitcoin and other cryptocurrencies, vowing never to let the crypto market decline. This statement comes amid criticism of President Biden’s anti-crypto stance.
Trump has been vocal in his support for cryptocurrencies to attract young voters who are enthusiastic about the technology. Recently, after generating millions from Trump trading cards in the NFT market, he has begun accepting cryptocurrency contributions for his 2024 presidential campaign. Meanwhile, Bitcoin’s trading volume and price have increased as holders remain optimistic about the future of the leading cryptocurrency, with Bitcoin currently trading above the $68,000 mark.
Ethereum price aims for new ATH
The price of Ethereum is nearing $4,000, driven by speculation that the recent approval of an Ethereum ETF may spark a significant price rally. At the time of writing, Ethereum is trading at $3,897. The 24-hour trading volume for Ethereum has surged by 64%, reaching $17.8 billion. The altcoin’s market capitalization is currently around $468.4 billion.
The total value locked in Ethereum’s Layer-2 networks is approaching a record high of $47 billion, indicating robust financial activity within the ecosystem. With the rising Ethereum trading volume, cryptocurrency investors and major Ethereum stakeholders are optimistic about the potential increase in institutional investments following the recent Ethereum ETF approvals.
Avalanche price chart analysis
Examining the six-month price chart of Avalanche (AVAX) reveals a turbulent journey marked by abrupt highs and lows. This volatility underscores the coin’s susceptibility to general market trends and its dependence on specific developments within its ecosystem. Over the past few months, Avalanche has exhibited a pattern of price spikes followed by sharp corrections.
Currently, the Avalanche coin appears to be stabilizing around $38 after a recent decline from its April highs. If AVAX can maintain support at the critical $35 level, it may continue to rise, especially if a larger bull run occurs in the cryptocurrency market. However, major resistance levels await at $48 and $53—thresholds that Avalanche has tested but failed to surpass in recent months.
Solana price chart analysis
Solana (SOL), with a market capitalization of $74.5 billion and ranked fifth overall, recently broke through the $164.50 resistance level after over a month of consolidation between $116.00 and $164.50. This breakout marked the beginning of Solana’s upward journey toward $216. However, after surpassing the $164.50 resistance, the Solana coin faced selling pressure, reaching a high of $189 as shown on the price chart.
Over the past 30 days, Solana experienced a significant 21.58% increase, rising from $136 to currently trading at $166 per token. After encountering selling pressure at the $189 level, Solana has managed to stay above the $164.50 support level. If Solana drops back into the $116.00-$164.50 range, it may see an accelerated decline. Conversely, if Solana continues to close above the $164.50 support, its price is likely to move toward the $216 resistance level.
Conclusion
Among the most promising DeFi coins, KangaMoon (KANG) has already attracted significant interest from investors. Due to its current low market capitalization, KANG’s price is relatively easy to influence. Experts predict that once KANG is listed on BitMart, its price will exceed $1.
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