Connect with us

TRADING

Plutus Defi: Plutus Bonding curve listing details

plutus defi token
rss

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.

DeFiRev.com is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.


Make sure to check out more DeFiRev articles and sign up for our exclusive newsletter + get access to VIP DeFi Networking here.


DeFiRev.com – HOME
DeFiRev.com – DeFi Market Watch

🔥Share this article below 🔥!

Facebooktwitterredditlinkedinmail
rss
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

TRADING

Ripple price rally is impressive, but can it last?

ripple
rss

Unraveling XRP’s rise and conquering the crypto markets

Ripple (XRP) has one of the most popular tokens for quite some time in the crypto martkets. For years now XRP has been sharing space with Bitcoin and Ethereum ranking third in terms of market value. In the last one month, XRP price has rallied by about 91% and there are factors which have attributed to its break above the present multi-year range. 

In the past one month, the price of XRP has rallied 91% as it has suddenly found some sheen owing to external factors. It is now fast catching up with Bitcoin (BTC) and Ether (ETH). The catalysts for the growth are likely to be several factors for the XRP rally are the rise in unique addresses, buybacks from Ripple, a new product release, the US Central Bank’s decision to digitize currencies, and of course the landmark pandemic-era US elections. Let’s analyze why Ripple is emerging so strong. 

Source: TradingView

Increase in Unique addresses

If one has to understand the overall sentiment around the cryptocurrency, then on-chain data comes in handy because it genuinely depicts and reflects the activities that take place on the blockchain. Taking this idea along, in the case of XRP, addresses that are interacting with XRP have spiked in late November and the trend has only intensified when the cryptocurrency rose a massive 27% in one day on November 22.

Source: Santiment

Santiment, an on-chain analysis firm has implied that the single-day increase in active addresses was observed to be the largest since May 1. They further said:

“Ripple’s price skyrocketed +27% today, and the number of unique addresses transacting on the $XRP network in a single day (24,408) was the highest output since May 1st.”

Price rise and increase in Active addresses happen in tandem for many reasons. The number of addresses that accumulate XRP can possibly and potentially also increase its value spikes. Combined with this, there can be a general rise in user activity on the blockchain.

Central Bank’s talk of digital currencies

As per a recent job posting by Ripple, the firm is looking for a senior director of Central bank engagements who will actively focus on supporting CBDC initiatives with Ripple’s real-time gross settlement system, XRP ledger. So based on this, we understand that Ripple is bracing itself to define its CBDC strategy with Central banks much ahead of the action. It is building relationships, projects and educating global central bankers above the new move and there is a lot of hope and positivity surrounding this.

This reaffirms that Ripple is keen on implementing its technology for developing CBDCs. Ripple in fact is an important tool that enables interoperability between global CBDCinitiatives. Way back in August,  Emi Yoshikawa, senior director of global operations at Ripple claimed that XRP will not compete but complement CBDCs. 

It is unclear whether Ripple is involved with the CBDC pilots to date but the organization is in touch with many global central banks. In May 2020, as per some reliable reports, Ripple also had a closed-door meeting with the Central Bank of Brazil to discuss this. Ripple is looking way forward and has become more future-oriented and this could be a likely reason for the newly-generated interest. 

Ripple Buybacks

In the third quarter of 2020, Ripple apparently bought $45.5 million worth of XRP in a repurchase program. The company explained that the move was necessary to support the trend for healthy markets.  The purchases totally $45.5 million was made and the sales summary listed read:

“As indicated in the Q2 2020 XRP Markets Report, Ripple is purchasing — and may continue to purchase — XRP to support healthy markets.”

A buyback can also cause a rise in the value of the asset because it generates interest in it. Although in terms of what it stands for today, the value of buyback may not be substantial it is good enough to rouse positive sentiments in the market. 

Launch of Paystring

Ripple Labs filed a trademark in early November, for a product called Paystring with the US parent and Trademark office. The application stated:

“PAYSTRING trademark registration is intended to cover the categories of electronic financial services, namely, monetary services for receiving and disbursing remittances and monetary gifts in fiat currencies and virtual currencies over a computer network and for exchanging fiat currencies and virtual currencies over a computer network.”

DeFiRev.com is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.


Make sure to check out more DeFiRev articles and sign up for our exclusive newsletter + get access to VIP DeFi Networking here.


DeFiRev.com – HOME
DeFiRev.com – DeFi Market Watch

Facebooktwitterredditlinkedinmail
rss
Continue Reading

TRADING

MakerDAO reaches $1 billion mark in total value

maker dao token
rss

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.

DeFiRev.com is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.


Make sure to check out more DeFiRev articles and sign up for our exclusive newsletter + get access to VIP DeFi Networking here.


DeFiRev.com – HOME
DeFiRev.com – DeFi Market Watch

🔥Share this article below 🔥!

Facebooktwitterredditlinkedinmail
rss
Continue Reading

TRADING

Trust Wallet’s game plan to expand its DeFi base

trust wallet app
rss

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.

DeFiRev.com is #1 in DeFi News. Check back in soon to find out the latest in DeFi News.


Make sure to check out more DeFiRev articles and sign up for our exclusive newsletter + get access to VIP DeFi Networking here.


DeFiRev.com – HOME
DeFiRev.com – DeFi Market Watch

🔥Share this article below 🔥!

Facebooktwitterredditlinkedinmail
rss
Continue Reading
bitcoin
Bitcoin (BTC) $ 64,457.00
ethereum
Ethereum (ETH) $ 3,890.32
binance-coin
Binance Coin (BNB) $ 488.64
tether
Tether (USDT) $ 1.00
cardano
Cardano (ADA) $ 2.11
xrp
XRP (XRP) $ 1.09
solana
Solana (SOL) $ 156.28
polkadot
Polkadot (DOT) $ 41.42
dogecoin
Dogecoin (DOGE) $ 0.246163
usd-coin
USD Coin (USDC) $ 0.999905
terra-luna
Terra (LUNA) $ 37.85
shiba-inu
Shiba Inu (SHIB) $ 0.000028
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 64,333.00
uniswap
Uniswap (UNI) $ 26.10
binance-usd
Binance USD (BUSD) $ 1.00
litecoin
Litecoin (LTC) $ 189.03
avalanche-2
Avalanche (AVAX) $ 57.02
chainlink
Chainlink (LINK) $ 25.97
bitcoin-cash
Bitcoin Cash (BCH) $ 620.15
algorand
Algorand (ALGO) $ 1.71
matic-network
Polygon (MATIC) $ 1.48
cosmos
Cosmos (ATOM) $ 34.96
stellar
Stellar (XLM) $ 0.374872
vechain
VeChain (VET) $ 0.116755
internet-computer
Internet Computer (ICP) $ 43.75
axie-infinity
Axie Infinity (AXS) $ 122.30
filecoin
Filecoin (FIL) $ 63.16
tron
TRON (TRX) $ 0.101000
dai
Dai (DAI) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 53.05
ftx-token
FTX Token (FTT) $ 57.18
compound-ether
cETH (CETH) $ 77.95
fantom
Fantom (FTM) $ 2.37
theta-token
Theta Network (THETA) $ 5.95
tezos
Tezos (XTZ) $ 6.75
hedera-hashgraph
Hedera (HBAR) $ 0.376205
staked-ether
Lido Staked Ether (STETH) $ 3,845.81
okb
OKB (OKB) $ 19.83
crypto-com-chain
Crypto.com Coin (CRO) $ 0.187457
pancakeswap-token
PancakeSwap (CAKE) $ 20.12
monero
Monero (XMR) $ 255.52
elrond-erd-2
Elrond (EGLD) $ 229.75
eos
EOS (EOS) $ 4.47
near
Near (NEAR) $ 8.19
klay-token
Klaytn (KLAY) $ 1.62
flow
Flow (FLOW) $ 13.53
cdai
cDAI (CDAI) $ 0.021640
aave
Aave (AAVE) $ 304.43
the-graph
The Graph (GRT) $ 0.781373
quant-network
Quant (QNT) $ 285.13