This Low-Cap DEX Altcoin Balloons 47% In The Face Of Crypto Market Stagnation
May 01 2022 - 07:13AM
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And everybody was saying keep an eye on this specific Altcoin and
yes — Sifchain – and they were right. Sifchain (EROWAN), a
low-cap DeFi altcoin, skyrockets by 47% in the wake of the
staleness in the general crypto markets. EROWAN has bounced from a
low $0.114 on April 23 and is currently at $0.168. Suggested
Reading | What’s In A Name? Ethereum Domain Name Sales Climb 2,300%
What is Sifchain (EROWAN)? At the 271st level of all
cryptocurrencies, SifChain has been on its seven-day high streak at
47%. SifChain is now at a price point that is above resistance; it
may be nearing its volatility period once the rally is over.
SifChain has been trading on low volumes over the course of seven
days but it now has an extremely bullish sentiment score and is
continuously rising. Many traders are anticipating the market
behavior of Sifchain EROWAN as it has become a high-performing
Altcoin despite the immobility of Bitcoin, Ethereum, and all other
stablecoins. Altcoin Saves Investors From Egregious Fees Sifchain
is the first-of-its-kind omni-chain decentralized exchange (DEX)
geared towards digital assets and altcoins that enables liquidity,
freeing investors from ridiculous trading fees and immature trades.
Sifchain has set eyes on roughly 20 to 25 blockchains to facilitate
cross-chain integrations. Crypto total market cap at $1.84 trillion
on the weekend chart | Source: TradingView.com The only way for
DAOs to be self-subsistent is to get their hands on enormous
funding. Enabling cross-chain liquidity is important for continuity
in the blockhain space. Sifchain is from the Cosmos Software
Development Kit (SDK) and runs along others like Akash, Kava, and
Terra in the Cosmos Network Blockchain network. EROWAN – 100x More
Powerful Than ETH-Based DEXs With that being said, EROWAN is 100
times more powerful and robust compared to Ethereum-based DEXs when
considering transaction speed and trading fees. As a DEX, Sifchain
has the best of worlds in terms of order books and liquidity pools
enabling solid order execution. Users are bound to leave a protocol
once the APYs plunge which makes it very difficult to maintain its
liquidity. Majority of protocols incentivize liquidity by way of
annual percentage yields of APYs. Suggested Reading | Dogecoin
(DOGE) Struggles, Drops 9% After Elon Musk Twitter Buyout Now, the
problem with keeping the APYs relatively high is that it results in
casting aside the native token price. PMPT is the solution to this
dilemma. PMTP’s goal is to pump up the ROWAN value so that the
community would be encouraged to HODL which will beef up ROWAN
liquidity for the long term. To do this, the ROWAN exchange rate is
adjusted by small increments on the Sifchain. PMTP applies every
time you swap. As the market value of ROWAN shoots up, the swaps
also increase in value over time. Featured image from Medium, chart
from TradingView.com
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