The amount of money locked in decentralized finance protocols has jumped from $53 billion in January 2024 to $130 billion, a sign that the industry is doing well. This growth may continue as the crypto bull run accelerates, a move that will benefit more DeFi crypto tokens. Here are some of the best cryptocurrencies to accumulate as the DeFi industry grows.
Best Crypto Tokens To Buy As DeFi TVL Grows
There are many cryptocurrencies to buy as the DeFi industry grows, including Morpho, Lido DAO, AAVE, and DexBoss.
Morpho (MORPHO)
Morpho is one of the best crypto token to buy as the DeFi industry booms. It is a relatively new DeFi network with over $3.2 billion in assets, most of which are in its Ethereum network and the rest in Base. Morpho has become highly successful such that it made over $90 million in fees in the last 365 days.
Morpho price has done well since its airdrop a few months ago. It has made a series of higher highs and higher lows. While th coin has lost momentum recently, it remains above the 50-period moving average, which is providing substantial support.
The token will likely keep rising, with most gains expected when it moves above the all-time high of $3.7. A drop below the 50-period moving average will point to more downside.
DexBoss (DEBO)
DexBoss is significantly different from the other three crypto tokens listed here because it offers somewhat guaranteed returns. It is an upcoming DEX platform that is currently in a presale that has collected over $342,000 in funds.
The guaranteed returns comes from the fact that each token is selling at $0.011, lower than the eventual listing price of $0.0505. As such, if you buy today and hold it to the listing price, you will likely make a near 360% return. You can buy the DEBO token here.
Lido DAO (LDO)
Lido DAO, the biggest player in the DeFi industry, is another top crypto token to buy because of its strong fundamentals. It is a top fee earner that made over $1 billion in the last twelve months as its staking volume rises.
LDO token has strong technicals as it has formed a cup and handle pattern whose upper side is at $2.47. It is now in the process of forming the handle section of this pattern. Also, the token has remained above the 50-day moving average. Therefore, a cross above the upper side of the cup will point to more gains, possibly to $4.035, the highest level in 2024.
AAVE (AAVE)
AAVE is another good crypto token to buy as it is slowly forming a highly popular bullish pattern known as a bullish pennant. This pattern has a flag pole and a triangle shape. The two lines of the triangle pattern are now nearing their confluence, pointing to more gains. Therefore, there is a likelihood that the value of AAVE token will rise to $500 in the near term.
These technicals are supported by the strong fundamentals as the network has over $22 billion in assets and made $480 million in fees in th last 30 days.
The post Top 4 Crypto Tokens To Buy As DeFi TVL Hits $130 Billion appeared first on CoinGape.
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