Tuesday, June 18, 2024
Home > News > Bitcoin News > Donald Trump stands with crypto as top defi coins rally

Donald Trump stands with crypto as top defi coins rally

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Amid Donald Trump’s support for crypto, Bitcoin, Ethereum, Avalanche, Solana, and KangaMoon are gaining momentum as optimism grows in the market.

In the midst of Donald Trump’s announcement that if he wins the 2024 US presidential election, he will support the future of crypto, crypto enthusiasts maintain optimism while Bitcoin, Ethereum, Avalanche, Solana and one of the new defi coins KangaMoon gain momentum. Let us find out more. 

KangaMoon: One of the top defi coins

Interest in the KangaMoon (KANG) project is beginning to grow among cryptocurrency traders and defi enthusiasts. To put things into perspective, more than 32,000 people have registered on the KangaMoon platform, which combines the features of a play-to-earn and social interaction protocol. The design of the KangaMoon project has proven to be unique, lucrative for players, and entertaining for its community.

As of right now, the KANG token is selling for $0.025 per token in the bonus stage of its presale, a 400% increase in price since the start of the presale. Experts also predict that the KANG presale will likely generate an additional 700% in value before the token’s launch. While KANG’s exact launch date is still unknown, the project has started getting ready for its planned Q2 launch.

Additionally, the BitMart exchange has declared that KANG will shortly be listed. It is expected that the token will continue to gain popularity on other tier 1 CEXs, such as Binance and OKX. The KANG token is also expected to launch on the Uniswap exchange. In the meantime, KangaMoon has already been listed on CoinMarketCap and CoinGecko.

For $0.025, traders can now purchase the KANG presale. By positioning oneself for the potential 700% price gain of KangaMoon, buying the token now could end up being lucrative. All things considered, KANG is one of the most promising defi coins to purchase, especially given its enormous potential to become a blue-chip cryptocurrency very soon.

Bitcoin trading volume surges amid Donald Trump’s promise

During his speech at the Libertarian National Convention, Donald Trump once again demonstrated his support for cryptocurrency companies, saying he is very positive and open-minded. He has criticized Biden’s attempts to destroy Bitcoin and cryptocurrency and promised that he will never allow it to die. This occurs at a time when President Biden is under fire for his anti-crypto position. 

Trump has supported cryptocurrencies vocally to win over young voters who are enthusiastic about them. After receiving millions from Trump trading cards in the NFT market, he recently started taking cryptocurrency contributions for his campaign. Meanwhile, the Bitcoin trading volume and Bitcoin price have climbed higher as holders remain optimistic. The Bitcoin price is currently trading above the $68,000 mark.

Ethereum price aims for new ATH

The Ethereum price is getting close to $4,000. This increase coincides with conjecture that a recent approval of an ETF may initiate a large-scale price rally. Ethereum was trading at $3,897 at the time of writing. With a 64% increase, the 24-hour Ethereum trading volume now stands at $17.8 billion. At the moment, the altcoin’s market capitalization is about $468.4 billion

The total value locked in Ethereum’s Layer-2 networks is getting close to a record high of $47 billion, indicating strong financial activity as well. With a surging Ethereum trading volume, investors in cryptocurrency and significant Ethereum stakeholders are bullish about the possible increase in institutional investments that could come with the recent approvals of ETFs.

Avalanche price chart analysis

Upon examining the six-month Avalanche price chart, one can observe a turbulent journey marked by abrupt highs and lows. This volatility demonstrates how vulnerable the Avalanche coin is to general market trends and how reliant it is on particular advancements within its ecosystem. Avalanche has shown a pattern of price spikes and equally sharp corrections over the last few months. 

The altcoin appears to be stabilizing at $38 right now following a recent decline from April’s highs. The Avalanche coin may continue to rise if it can hold support at the pivotal $35 level, particularly if a larger bull run in the cryptocurrency market takes place. But major resistance is waiting at $48 and $53, levels that Avalanche has tested and failed to cross in the last few months.

Solana price chart analysis

Solana (SOL), valued at $74.5 billion and ranked fifth in market capitalization, broke through the $164.50 resistance level following more than a month of consolidation between $116.00 and $164.50. It started its journey toward $216 with this breakout. The Solana coin encountered selling pressure again after breaking above the $164.50 resistance level, reaching a high of $189 as evident on the Solana price chart. 

Meanwhile, the Solana coin saw a 21.58% increase within the past 30 days, beginning at $136 and is currently trading at $166 per token. Moreover, Solana is back above the $164.50 support level following selling pressure from the $189 level. Solana could see an acceleration in its decline if it re-enters the $116.00–$164.50 range. But if Solana continues to close each day above the $164.50 support, the price is probably going to move toward the $216 resistance.

Conclusion

Among the most promising defi coins, KangaMoon has already caught the interest of numerous investors. Furthermore, due to KangaMoon’s current low market capitalization, it is less expensive to inflate the token’s price. As a result, experts forecast that after KANG is listed on BitMart, its price will surpass $1.

To learn more, visit the Kangamoon website or join their telegram community.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.

Source