Top 5 promising Coins for June: Aave, MANTRA DAO, Serum
We have compiled a list of five promising coins in the segment of decentralized finance (DeFi): Aave, MANTRA DAO, Serum.
These DeFi projects are going through interesting developments that could favorably affect the rate of their native coins.
Aave (AAVE)
The Aave protocol is one of the leading credit platforms in the decentralized finance (DeFi) segment. This liquidity provisioning protocol allows users to participate in the platform as both lenders and borrowers. Lenders who provide liquidity to the platform earn passive income.
Another feature of Aave is flash loans, which allow assets to be lent without collateral, but with the condition of repayment within a single transactional block. This feature is typically used by developers because it requires a certain level of technical expertise.
The funds of the protocol are stored on a non-custodial smart contract running on the ETH blockchain. The project’s native token is AAVE. AAVE owners can vote on proposals for updates and changes to the protocol.
The DeFi World Investment Summit will take place between June 2-3. One of the speakers there will be Stany Kulechow, founder and CEO of Aave.
The rate of AAVE updated its historical high of $668 on May 18 and has been declining since then. However, the price managed to turn around before the support area of $300 and perhaps complete the correction.
MANTRA DAO (OM)
MANTRA DAO is a community-run DeFi platform. The project’s key priorities are lending, stacking, and management. The project’s native token is OM.
The project ecosystem is managed by OM holders, who have voting rights on all important decisions. In addition, MANTRA DAO uses the KARMA mechanism. This is a rehearsal system in which users who make positive contributions to the ecosystem are rewarded.
MANTRA DAO uses Riochain’s scalable and secure blockchain to support its financial products. It uses a hybrid model that allows different blockchains to communicate with each other seamlessly.
According to an announcement on the project’s official Twitter account, the company is launching the Torum Liquidity Pool (XTM) starting May 28.
OM has been declining since March 15 and hit a new all-time low of $0.142 on Binance on May 19. The nearest resistance is at $0.24.
Serum (SRM)
Serum is a decentralized exchange and ecosystem, which has as its mission to offer DeFi users unbeatable speed and very low transaction fees. The project runs on the Solana network (SOL).
Serum can achieve transaction processing speeds of up to 50,000 per second. The project’s native token is SRM. SRM allows users to exchange assets between different blockchains. There are currently about 50 million coins in circulation.
The project is currently participating in a global hackathon organized by Solana.
SRM formed an all-time high of $12.98 on May 3 and has been declining ever since. The fall has been aggressive and has put the former $3.50 resistance area and the 0.786 Fibo retracement support level to the test. Despite the lack of clear bullish reversal signals, the coin has probably already completed the correction.
