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NANO CRYPTOCURRENCY BREAKS MAJOR RESISTANCE LOOKING TO TARGET $1.50 USD

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The NANO Cryptocurrency is one coin to watch closely in 2020.

Nano Cryptocurrency
NANO cryptocurrency breaking through major resistance past $1.00

The NANO cryptocurrency broke through major resistance on Tuesday finally pushing well past $1.00 all the way to $1.22 USD, signaling major bullish sentiment for the novel blockchain. For traders, this is certainly looking like a strong buy according to the weekly moving averages and technicals. Furthermore, there is plenty of room to grow in terms of volume.

Proponents of the NANO cryptocurrency cite its rapid transaction speed, zero fees, eco-friendly / no mining approach, and its novel technology to be its key features. What is especially interesting is that NANO uses a hybrid combination of a blockchain and a directed acyclic graph (DAG).

Formerly Raiblocks, NANO has developed a loyal and passionate following over the years since its creation in 2015. Many hail the NANO cryptocurrency as one of the true winners in relation to the scaling debate.

In terms of its architecture, NANO utilizes block-lattice architecture. In layman’s terms, this means each account operates as its own blockchain. This consequently, greatly improves the speed of transactions. The NANO whitepaper is in of itself quite fascinating and any DeFi aficionado would appreciate what NANO is trying to accomplish.

Currently, NANO is ranked just shy of the top 50, at #51 according to CoinMarketCap with a $161,846,157 USD market capitalization. With its recent surge, many traders and analysts project NANO hitting a quarter-billion-dollar market capitalization sometime in the near future.

At its height NANO was valued at $37.62 USD. Many industry analysts estimate $5.00 USD being a fair value target for the NANO cryptocurrency.

Will this rally continue to make new yearly highs for NANO?

Check back in at DeFiRev.com to find out.

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Plutus Defi: Plutus Bonding curve listing details

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While PlutusDeFi had been busy with its bonding curve sale, it had registered a 2000% increase in Twitter engagement with 1500+ members on Telegram. The initial bond curve was offered on a dolomite.io DEX instance. The sale began on 21’ st July for a period of 24 hours with unsold tokens burned immediately. 

At the end of the bonding curve sale, the project has raised $500k in its seed round, $490K on its bonding curve, and $350 in its private sale taking the total funds raised to $1.35bn USD. As of now, 50% of the supply is sold taking the total amount of tokens sold to 60,000,000 PLT tokens. Close to 11.2 million PLT tokens were burned in the first 24 hours of circulation equating to 9.33% of its total supply, 22.5% of its seed round, and 49.77% of the entire potentially burned seed rounds getting destroyed.

The team at Plutus believes that the results of the process are better than expected. The team used a bridge toll model with a bonding curve to mature the token stabilization to make it seem that it has already reached a project maturity of 2 years. This has benefitted because it has increased the deflationary aspect of the token existing from 1-2 years within 24 hours. 

With the $PLT listing on UniSwap V2 complete, the starting token price will be USD $0.25c. It will provide liquidity towards both PLT/USDC & PLT/wETH.

More such announcements are on the anvil as Plutus DeFi looks for more collaborations and partnerships to fulfill its long-term DeFi commitments.

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MakerDAO reaches $1 billion mark in total value

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MakerDAO one of the biggest, oldest, and the most popular players in the DeFi space has crossed a new Milestone. The total value of cryptocurrency in MakerDAO has crossed $1 billion representing the amount of money that has been committed. DeFi projects are increasingly raising their own benchmarks by ranking high on popularity charts. MakerDAO is the second-largest protocol in the sector with a margin of $271 million already locked in and by crossing the golden $1 billion mark, created history in the DeFi market. 

Maker has successfully managed to hold its dominance over others standing at 27.1% followed by a second with the Compound Protocol with a total value locked up standing at $729 million. Maker protocol uses BAT or locked up collateral in the form of Ether (ETH) for lending. 

David Freuden, the co-author of “DAO: A decentralized Governance layer for the Internet of Value, believes that with continuous innovation in DeFi, the challenges for centralized finance might just rise making it difficult to cope. MakerDAOs achievement is certainly a big day in further establishing a bright future for DeFi projects.

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Trust Wallet’s game plan to expand its DeFi base

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Trust Wallet was acquired by Binance just 2 years ago and in a short span of time, Trust wallet has managed to expand its userbase to 5 million indivudals and beyond in the raging DeFi sector. The platform also claims that 10% of its user base can now access a gamut of DApps and DeFi platforms with its aggressive plans to expand into liquidity farming earning opportunities. 

Trust Wallet refuses to stop because it intends to keep pace with the rapidly expanding DeFi ecosystem by integrating token exchange platforms like Kyber and its own exchange BinanceDEX. Trust’s Android version with a built-in Dapp will give access to the DeFi world and umpteen protocols including Aave and Compound. In the future, the wallet intends to integrate a number of DeFi protocols on both the version of its apps to increase liquidity and provide access to liquidity pooling and protocols. The integrations will make it not just intuitive but also more secure for users.

The DeFi boom is showing zero signs of slowing down and progress in terms of newer protocols and more access to developers to build financial applications is being made every day. Trust Wallet’s strategies for long terms will include adding DApp functionality that satisfies the crypto users for the next few years. Trust Wallet is presently going step-by-step to follow the schematics of its own strategy.

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