- AAVE outperformed the most among the top DeFi coins and surged over 27% this week.
- The total market cap of Defi coins rose to $92.35 Billion in the past 24 hours.
Decentralized Finance, commonly called DeFi, is gradually becoming one of the biggest sub-sectors of cryptocurrencies.
As more people adopt and use it, the investors seek good and viable projects that could grow exponentially and be adopted soon.
When moving further through July 2024, three altcoins, namely Aave (AAVE), MANTRA (OM), and Maker (MKR), have been labeled as the best DeFi altcoins to acquire. Let’s discover why they are considered the best choices this week.
Aave (AAVE) Enlisted a Breakout: Can It Surge More?
After a long retracement, AAVE enlisted a descending triangle pattern breakout and crossed the $100 mark with a sharp surge in trading volume. Amidst the market recovery, the token has gained bullish momentum and was ready to spark the gains at press time.
At the time of writing, the AAVE was trading at $102.28 with an intraday surge of over 6.24% noted buying momentum on the chart. It had a market cap of $1.55 Billion and was ranked at 57 at the time of writing.
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AAVE Price Chart | Source: TradingView
Its Total Value Locked rose over 7% to $12 Billion in the past 24 hours, while the open interest rallied over 12% to $67 Million.
The RSI sprinted to the overbought zone, showed a sharp short-term reversal, and could contribute further gains.
MANTRA (OM) Stays Near $1: What’s Next?
MANTRA (OM) price traded near its All-Time-High trajectory and decisively held the gains above the $1 mark. From the RWA sector, the OM token was the top-performing crypto asset, and it showed a consistent rise over the past few weeks.
Recently, it has partnered with a UAE real estate company, “MAG,” which shifted its dynamics and gained significant traction.
On the technical front, the RSI curve stayed in the overbought zone and reflected a bullish stance. As the token comfortably held the gains beyond the 61.8% Fib level, the upside was intact in the short term.
OM Price Chart | Source: TradingView
At the time of writing, the MANTRA token traded at $1.08, with an intraday surge of over 0.24% noted. It had a market cap of $956.19 Million and was ranked 77.
Maker (MKR) Looks Bullish: Next Stop $3000?
Maker (MKR) is among the top DeFi picks, as it soared over 25% this week and looks bullish on the chart.
The Maker price pump over the period can be well attributed to a new executive vote for voting on the Maker Governance portal. The voting power of the MKR tokens and delegates allows certain changes to be deployed if supported according to the proposal.
MKR Price Chart | Source: TradingView
At the time of writing, the Maker coin (MKR) traded at $1.08 with an intraday surge of over 0.24%, noting neutral moves on the intraday chart. It had a market cap of $956.19 Million and was ranked 77.
Its technicals look robust, and the coin could sprint bullish and move toward the $3000 mark shortly.
All In All
These three top DeFi coins looked bullish and could continue to spread the bullish leg beyond the sellers’ vision ahead.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
