Why DeFi Yield Protocol DYP has a potential of 1,000x
NYC, August 28, 2021 (GLOBE NEWSWIRE) – In some ways, crypto is quite similar to the gold rushes that have periodically gripped the world between the 17the and 20e century. The discovery of gold at Sutter’s Mill in 1848 resulted in the influx of over 300,000 migrants to California. But mining for gold was hard work, and the trip to California alone claimed the lives of many fortune seekers.
Fortunately, these days we don’t have to leave our homes to make a fortune. Although regulations differ from country to country, crypto is available worldwide. But where individual miners used to search with a pot of gold, crypto investors now have to explore over 11,000 cryptocurrencies and tokens available on the market to find treasure. Finding a 1.000x gem under these conditions is rare, but CryptoBusy has done a lot of research, and in their August 14 videoe appointed DeFi Performance Protocol (DYP), as their choice for a 1.000x.
DYP has not been immune to the price fluctuations of the broader market throughout this year. With Bitcoin dropping from its all-time high of $ 64,000 to $ 29,000 between April and June of this year, DYP has also suffered from the drop from its all-time high of $ 5.20 to just over $ 0.24 a year ago. month. Trading at $ 0.3259 at time of registration, CryptoBusy praised DYP for its anti-manipulation feature. This feature is rarely seen in crypto, but perhaps should be more widely adopted to prevent whales from controlling the network. If the market widely embraces this innovative feature, DYP should reap the rewards.
While a 1,000x for most cryptos would be nearly impossible, a 1,000x would land DYP somewhere around the market cap of $ 3.6 billion, making it “only” on the 37th.e biggest crypto. Therefore, CryptoBusy concludes that for DYP a 1.000x is quite possible.
Indeed, since the video’s release not two weeks ago, DeFi Yield Protocol has seen its price increase by almost 150% to a local high of $ 0.79 as more people take it. awareness of their innovative solutions. If CryptoBusy was right, however, this is nothing compared to an expected price of over $ 300 per DYP at 1,000x.
As the current bull cycle continues, the DYP team isn’t just waiting for people to take notice. They have recently extended to the Avalanche chain, sponsor several sporting events and have introduced new features in their protocol, such as the buyback program. For those who have only recently stepped into crypto waters, DYP’s Teki Kola also frequently hosts giveaways on Twitter, and the team recently produced plenty of beginner-friendly tutorials to get started on the DeFi platform. Yield Protocol.
The DeFi Yield Protocol has also managed to hit some big numbers which clearly show just how undervalued it is right now:
– 8,708 ETH, 6,513 BNB and 9264 AVAX with a value of $ 31,824,779 paid to liquidity providers; So imagine that they managed to pay its users over $ 31 million and their market cap is only $ 8,141,223.
– $ 9,501,902 in cash on Uniswap, PancakeSwap and Pangolin (the largest DeFi exchanges in Ethereum, Binance Smart Chain and Avalanche); even their total liquidity is greater than the current market capitalization.
– $ 12,172,946 blocked in different pools through their farming, staking and buyback pools.
All of these numbers show how undervalued the DYP token is and why the famous youtuber and crypto analyst made this price prediction. Another important factor to consider is their partners, they have only done integrations with large platforms such as Chainlink, Avalanche, Pangolin, and Coin98 Wallet.
DYP is currently trading at $ 0.64 with a market cap of around $ 8.1 million, the current low price provides a perfect entry point for market participants looking to cash in on the farming protocol of top performance.