Tag: Liquity

Low-Cap Altcoin Soars 372% in One Week After Earning Surprise Support From Crypto Exchange Coinbase

by Dailyhodl

A low-cap altcoin has skyrocketed by more than 372% in the past seven days after receiving full trading support from Coinbase this week.

PolySwarm (NCT) is a threat detection and anti-malware project that was listed by Coinbase Pro on Wednesday, alongside altcoins Inverse Finance (INV), Liquity (LQTY), Propy (PRO).

All four crypto assets then received listings across the exchange’s full retail platform the following day.

PolySwarm uses its native token, NCT, to reward users who assist in the collection of cybersecurity data and insights. The 344th-ranked crypto asset by market cap is trading at $0.12 at time of writing, up 372% from where it was priced one week ago. NCT was down nearly 29% on Friday, however.

This week, the prices for the other three altcoins likewise rose by varying amounts. Inverse Finance (INV), an Ethereum-based token offering a suite of banking tools for decentralized finance, is up nearly 20% in the past seven days.

The decentralized borrowing platform Liquity saw its native asset, LQTY, shoot up by nearly 33% in the past week.

Propy’s native token, PRO, surged by more than 147% in the same period. Propy is a platform that automates real estate transactions to save time and reduce the likelihood of fraud.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Crypto Giant Coinbase Abruptly Adds Four Ethereum Tokens, Sparking 296% Altcoin Rally

by Dailyhodl

A surprise group of Ethereum-based tokens are heating up after a sudden listing by top US crypto exchange Coinbase.

In a new blog post, Coinbase says that two finance-focused altcoins and a pair of other crypto assets will start trading on Coinbase Pro once appropriate liquidity conditions are met.

Inverse Finance (INV) is an Ethereum token offering a suite of banking tools for decentralized finance. Founded in 2020 by a single developer, the project now operates as a decentralized autonomous organization with hundreds of active members.

Inverse Finance saw its price go vertical from $621.82 to as high as $822 after the Coinbase announcement. The altcoin is currently up 22.14% on the day and trading for $767.61.

Also getting the green light from Coinbase Pro is the decentralized borrowing platform Liquity (LQTY) which offers interest-free loans using Ethereum (ETH) as collateral.

Liquity initially spiked 62.3% from $5.12 to $8.31, and currently, LQTY is up 13.25% on the day to $7.91.

Next up is Propy (PRO), a platform that automates real estate transactions to save time and reduce the likelihood of fraud. The native token can be used to cover the cost of fees and contracts.

Propy jumped from $1.59 to $2.30 almost instantly after the Coinbase news broke, ultimately peaking at $2.61. PRO is currently up 53.14% on the day at $2.45.

Last on the list is the threat detection and anti-malware project PolySwarm (NCT). The native token rewards users who assist in the collection of cybersecurity data and insights. PolySwarm partners include Alibaba.com, Tylabs and SecureBrain.

PolySwarm skyrocketed from $0.026 to $0.103 in response to the listing, a 296% jump.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Liquity Protocol attracts $1B TVL in just 10 days

by Cointelegraph

The team behind Liquity Protocol — a DeFi project launched on April 5 — has attracted $1 billion worth of locked up value according to data from Dune Analytics.

The Pantera Capital-backed Liquity is a Swiss-based decentralized and governance-free lending protocol that offers interest-free loans against Ethereum locked as collateral, with users required to maintain a minimum collateral ratio of 110%.

Loans are paid out in the protocol’s algorithmic stable coin LUSD, which is pegged to the value of USD at a one-to-one ratio. The protocol automatically generates LUSD to meet user demand, and so far has minted a supply of 480 million stable coins, with more coins being minted than burned each day.

The loans are secured by the protocol’s Stability Pool that acts as a source of liquidity to repay liquidated debt, and also by fellow borrowers collectively acting as guarantors of last resort. Users can earn money through the protocol by staking liquidity and earn revenue from issuance fees in LUSD and redemption fees in ETH.

Data from the mammoth 10-day run published via DuneAnalytics revealed that borrowing demand has rewarded stakers so far, with an average of roughly $240,000 of fees generated per day on the protocol between April 12 and April 14. The total staked amount edged past $720,000 on April 15, and the majority of users are keeping within a collateral range between 150-250%.

On March 29 Cointelegraph reported that the Liquity Protocol had closed its Series A funding round led by Pantera Capital with a $6 million investment, which included additional contributions from companies such as quantitative investment firm Alameda Research.

The decentralized finance protocol sector continues to push past its all-time highs, with data aggregator DeFi Llama showing that there is now $123.33 billion worth of total locked-up value in DeFi protocols as of today. In its short lifespan, the Liquity Protocol has pushed itself up to rank 26 in the top 100 DeFi protocols with $1.06 billion in TVL.