In research conducted by Santiment, a leading research agency on cryptocurrency, DeFiChain’s development efforts have outperformed Defi industry heavyweights, including UniSwap.
For weeks, the DeFiChain team has been endlessly working on one of the most anticipated product debuts in DeFiChain’s history.
The Fort Canning update, which will allow DeFiChain users to trade stocks, commodities, and precious metals in a genuinely decentralized way, is the next big release. Users patiently wait for its release. Tracking the price of an underlying asset through the use of synthetic asset tokens is blazing the trail for global accessibility, acceptance, and a whole new ceaseless 24/7 trading.
DFI Price
Last October 2020, the integration of Liquidity Mining for Bitcoin was nearing completion. The prevailing market circumstances were similar to what they are now, resembling the general scenario. Simultaneously, DFI, the foundation of DeFiChain’s products and services, was reaching a new low of US$0.20.
The DFI price was hanging at US$ 0.35 just a few weeks ago, in early September 2020. It had dropped by roughly 40% in just a few weeks. The Bitcoin liquidity mining product still develops within the schedule and deployed in early December 2020. The development occurred regardless of the decline in DFI.
DFI’s price soared to previously unheard-of heights due to Bitcoin liquidity mining in the last month of 2020. The large yields provided to liquidity providers are primarily responsible for this growth. Widespread attention and interest regarding bitcoin liquidity mining have increased. This is due to the introduction of said mining and its resulting profits. Newcomers entice to be a part of the project.
A Similar Scenario may be Visible this Year
When the new Liquidity Mining for stocks begins if history is any indication of our future. This could lead to a supply shock situation. Especially if more individuals wanted to enter into DFI, resulting in a double-dipping on equities which are substantially more costly than at current prices.
Since the price of the coin directly correlates to the new development activities, this only proves that we may just repeat history. We can observe that the DFI price is trailing when comparing the DFI pricing to the development activities. The DFI price will rise shortly, reflecting the current increase in development activity if previous projects provide any indication.
Intelligent investors are urged to create their own opinions about the present scenario. They choose whether the timing is perfect to plan for the next significant product launch on the DeFiChain platform.
