Top 3 DeFi Cryptocurrencies Expected to Succeed in the Next Bull Market – $AVAX, $ARB, and $OP

adminDecember 26, 2023

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With the current market momentum and the potential of these three DeFi projects, 2024 could be a year of significant growth for the decentralized finance sector.

Avalanche (AVAX), Arbitrum (ARB), and Optimism (OP) are gaining traction in the cryptocurrency world and look to emulate the success of projects like Solana.

So, stay alert as AVAX, ARB, and OP could emerge as the next major players in the cryptocurrency space.

3 Best DeFi Cryptocurrencies for Long-Term Growth in 2024

Forget about cryptocurrency FOMO and explore three DeFi opportunities to take the leap in this informative guide. Learn about its long-term growth potential and explore the world of DeFi with our expertise. Be prepared, do thorough research, and get ready to watch the rise of future cryptocurrency leaders.

Visit our guide to the best DeFi coins you can buy right here.

Avalanche (AVAX)

AVAX starts the list as the 9th largest cryptocurrency with a market capitalization of $17 billion. Despite occupying a significant position, many see AVAX as having room for further growth. It is currently trading at $46.36 and has been showing steady and healthy growth over the past 14 days.

Although it has not experienced a dramatic rise, the cryptocurrency has continued to rise, indicating positive market sentiment. Targeting $100 by the end of next month, AVAX is a company to watch as the cryptocurrency market enters a new phase.

Internally, Avalanche is evolving with performance improvements and bug fixes with the latest Core v1.9.10 release. The network’s subnet ecosystem is thriving, with over 400 subnets deployed to date. Visit our guide to the best altcoins to buy now in 2023 here.

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This decentralized application playground makes AVAX more attractive thanks to its record-breaking DeFi presence. According to DeFi Llama, Avalanche’s Total Value Locked (TVL) has reached an all-time high of over $11 billion, demonstrating growing trust and activity on the platform.

Although price predictions come with inherent uncertainty, the combination of positive factors surrounding AVAX paints a promising picture. Steady growth, a thriving ecosystem, and recent developments suggest that significant gains can be achieved.

In general, analysts are optimistic about AVAX’s future, with some predicting that it could reach $100 by the end of January 2024. However, it is important to remember that the cryptocurrency market is volatile and unpredictable. Therefore, these predictions should not be taken financially. advice.

Arbitrage (ARB)

Arbitrum (ARB) is a Layer 2 powerhouse that is quietly making waves in the DeFi world, and it gets some attention on our next list. With a total value locked (TVL) of more than $2 billion, ARB has garnered attention for its ambitions to become the next Solana or AVAX.

Currently ranked 51st with a market capitalization of less than $2 billion, ARB offers insight into the future of scalable smart contracts. Over the past month, ARB has risen steadily and is currently trading below $1.40.

This continued growth has sparked speculation among analysts, with many believing the cryptocurrency could be ready for a major breakout. Some predict that it could surge to $5 in the near future, a forecast supported by ARB’s relatively low market capitalization of $1.7 billion.

This untapped expansion potential makes ARB a very interesting target for smart investors looking for the next big wave in DeFi. Arbitrum stands out in the blockchain space in that it solves the problems faced by Ethereum by emphasizing scalability and low transaction fees, as well as speculative profits.

Unlike Ethereum, Arbitrum offers a cost-effective and seamless alternative while attracting a thriving community of DeFi protocols and dApps. This community support suggests that ARB’s growth is rooted in true utility and cutting-edge technology – it’s more than just hype.

Caution is essential in the volatile cryptocurrency market. However, Arbitrum’s strong track record, ambitious vision, and rapidly expanding ecosystem present a compelling opportunity worth monitoring in the evolving DeFi landscape.

Optimism (OP)

Let’s talk about the third player on the list that lives up to its name: Optimism (OP). Its current market capitalization is $3 billion, surpassing its competitor ARB, and its price is $3.30. But the real story is the recent price action. Last week, operating profit soared almost 100%.

This is not a temporary trend. OP is hitting all-time highs, setting its own course, and making a name for itself. What’s even more impressive is that this is happening before the cryptocurrency market has officially entered a bull market. OP is likely to sense a change in mood and engage in more price discovery as the market gains momentum.

Analysts are optimistic about operating profits and expect a potential market capitalization of $10 billion to $15 billion by early 2024. This positive outlook stems from several key factors. First of all, OP is breaking new ground as a layer 2 solution that provides fast and cheap transactions that solves Ethereum’s current limitations.

This innovative technology attracts more DeFi protocols and users and positions OP for future growth. Second, operating profits are soaring even before the bull market begins in earnest. This early momentum suggests that OP could be a frontrunner poised for significant gains when the bull market gets into full swing.

The cryptocurrency world is unpredictable, but OP’s early success and solid foundation paints a promising future. However, the caveat is that, like all DeFi players, OP’s fate depends on Bitcoin’s performance. If Bitcoin falters, the entire market, including OP, could take a hit.

Nonetheless, Optimism stands out as a potential pioneer in the DeFi space and is worth watching closely as the next chapter of the cryptocurrency market unfolds. So strap in and stay tuned to OP. This could be the next big thing in DeFi.

conclusion

AVAX, ARB, and OP have great potential in the DeFi sector. However, it is important to note that Bitcoin has a significant impact on the overall cryptocurrency market. If Bitcoin falls, AVAX, ARB, and OP will likely follow the same path.

On the other hand, if Bitcoin stabilizes or rises, it could create a good situation for promising DeFi projects to develop further. If you’re looking for other investment opportunities, check out our list of the best cryptocurrency ICOs to consider.

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