Thailand’s SEC Grants First Bitcoin ETF, Five June DeFi Coins
Thailand’s SEC grants Bitcoin, and the Securities and Exchange Commission (SEC) approved the country’s first Bitcoin exchange-traded fund (ETF). All by itself, this action has the potential to completely alter the landscape of cryptocurrency everywhere. Avalanche (AVAX), Fantom (FTM), Ethena (ENA), Chainlink (LINK), and DTX Exchange (DTX) are the top five decentralized finance (DeFi) coins that have the potential to experience a jump in value during the month of June 2024.
DTX Exchange (DTX): The Top DeFi Project Right Now
DTX Exchange (DTX) is gaining notice in the decentralized finance sector for its impressive presale success. The DTX presale has raised over $600,000 and will reach $1 million by June 2024. Thailand’s SEC grants Bitcoin., Early buyers of this DeFi coin are currently seeing a 100% return, an exceptional growth rate.
DTX Exchange combines centralized and decentralized exchange features to make it stand out. Customers can access over 120 thousand assets and gain 1,000 times leverage by doing so. DTX Exchange eliminates know-your-customer checks during sign-up to protect privacy. Privacy-conscious people will like this.
This platform relies on the DTX token for all operations. Having this DeFi coin gives you better customer service, fewer trading fees, and governance voting rights. DTX buyers who spend $100 during the presale will also be entered into a $1 million lottery for ten lucky traders to win $100,000.
Since trading at $0.02, this DeFi currency has grown 100-fold. This is the Stage 2 presale price; Stage 3 will raise it to $0.06. Additionally, the bonds market was worth $133 trillion in 2023, giving DTX great long-term development potential. In the third quarter of 2024, market analysts expect DTX to rise fiftyfold if a Tier-1 CEX lists it.
Athena (ENA): New BounceBit Partnership
The next topic we will cover is Ethena (ENA), a decentralized finance token that has been generating much buzz in this market. One example is Ethereum’s recent announcement of its new partnership with BounceBit. In light of this new development, customers now have the ability to stake BBUSD to generate sUSDe yield while maintaining their exposure to Bitcoin.
This news about Ethena may create an increase in interest in this cryptocurrency. In just the past year, the price of the Ethena cryptocurrency increased by more than forty percent. With regard to this particular DeFi coin, sixteen technical indications are in the purchase zone. Consequently, cryptocurrency industry professionals forecast that the Ethena coin will be traded at $1.23 within the second quarter of 2024.
Chainlink (LINK): ZeroLend Upgrade
Another formidable competitor in the decentralized finance business is Chainlink (LINK). Recently, Chainlink announced on their website that ZeroLend has moved to Chainlink Price Feeds on Linea. With the implementation of this new feature, ZeroLend will be able to improve its capacity to appropriately evaluate the collateral that a user provides when lending or borrowing money.
Over the course of the past year, the value of the Chainlink coin has increased by more than 200 percent. Furthermore, more than sixteen technical indicators have moved into the purchase zone for the cryptocurrency known as Chainlink. Thailand’s SEC grants Bitcoin, Despite this Chainlink news and data, the positive sentiment among market analysts has not changed. They believe that LINK might potentially reach $22 by the conclusion of the second quarter of 2024.
Avalanche (AVAX): Dan Gambardello Remains Bullish
Avalanche (AVAX), which has been rising in price, is second-to-last in our list of the top decentralized finance coins.CoinMarketCap reports that Avalanche has risen 150% in price over the past year. Crypto researcher Dan Gambardello believes AVAX might dominate the altcoin season.
This assertion is supported from a technical standpoint by examining the Avalanche cryptocurrency. AVAX is trading above its 50-day and 100-day exponential moving averages, with ten technical indicators in the green. Whenever they make their forecasts regarding the price of Avalanche, experts consider all of these signals. As a result, they forecast that the value of this DeFi currency will reach $47 within the second quarter of the year 2024.
Fantom (FTM): Major Analyst Predicts a Breakout
Fantom (FTM), a bullish cryptocurrency, is our final topic.CoinMarketCap statistics show Fantom’s year-to-date price rise of over 150%. Crypto Rand, a cryptocurrency analyst, made an additional bullish statement regarding this DeFi token. It is important to note that he claims that Fantom is now working on breaking out, as stated in his X post.
Fantom is trading above its 100-day and 200-day exponential moving averages; therefore, over 29 technical indicators are in the buy zone. These factors have led market analysts to predict a bullish Fantom price. They predict this DeFi cryptocurrency will reach $1.20 by the second quarter of 2024.
Closing Thoughts on the Best DeFi Projects in June
The approval of a Bitcoin exchange-traded fund (ETF) by the Thailand Securities and Exchange Commission (SEC) will grant us an incredible June and beyond. In contrast to Athena, Chainlink, Avalanche, and Fantom, DTX Exchange is a notable cryptocurrency. This newcomer has a modest market cap and connections to several financial marketplaces worth trillions of dollars. As a result, DTX will experience a more rapid and significant gain in value compared to the other DeFi ventures.