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Analysts have picked out two DeFi projects, Polkadot and Meme Moguls, out of the crypto space, praising them for their features and bullish potential. Meanwhile, Stellar has postponed its Protocol 20 upgrade due to a bug error.
Polkadot (DOT), One of the Most Powerful Projects in the Crypto Space
In a recent video, Altcoin Buzz, a cryptocurrency analyst, highlighted Polkadot’s often-overlooked potential. He claimed that it might be one of the most powerful projects among the top 15 in the market.
The expert stated that Polkadot has one of the largest ecosystems in the crypto space. In addition, Altcoin Buzz mentioned that the expanding number of parachains is a sign of huge adoption.
The ecosystem has over 196 projects, including Kusama. The analyst expressed optimism about the Stellar Polkadot ecosystem’s overall growth in 2024, predicting that it could outperform its past performances. Meanwhile, Polkadot coin has risen 10.4% in the past week, fluctuating between $6.02 and $7.10.
Stellar (XLM) Postpones Upgrade Citing Bug Error
The Stellar (XLM) Development Foundation has postponed the scheduled protocol 20 upgrade. The move results from feedback from ecosystem actors like tool builders, wallet developers, and contract developers.
Notably, the Stellar Development Foundation warned participants of a bug (in Stellar CoreV20.1.0) on January 25. After upgrading to protocol 20, the issue may affect services and apps.
Thus, the procedure will resume after the bugs have been resolved. Furthermore, the Stellar Foundation intends to involve all stakeholders in decision-making to guarantee a smooth transition.
Despite this change, the Stellar coin price movement remained stable. It is up 1.7% in the last week, trading between $0.1074 and $0.1167.
The Potential of Meme Moguls (MGLS)
Meme Moguls (MGLS) is developing a play-to-earn (P2E) game that teaches you all you need to know about investing and wealth creation. You will move up the Wealth Leaderboard when you play Meme Moguls’ stock market games.
When you reach the top 20, you will get a reward pool based on how much Meme Moguls makes daily. While this game is the main draw, Meme Moguls’ ecosystem will also incorporate staking and a virtual location called Moguls World.
The MGLS token powers all platform operations, making it different from other meme coins. Analysts project that the DeFi coin will rise to $0.19 from its current price of $0.0036 once it is listed on exchanges. If you buy it now, you will also get a 30% deposit bonus.
Conclusion
Polkadot and Meme Moguls are two DeFi projects that could see huge gains in 2024. Meme Moguls plan to dominate the meme market that Statista has predicted to be valued at $6.1 billion by 2025. This industry has huge potential, and Meme Moguls is a great option for meme coin fans to ride on this bullish market.
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Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
