DeFi

Deciphering the rise of Pendle Finance and the Notcoin pop-up — TradingView News

Published

8 months ago

6 June, 2024

Traders prefer OG over Dogecoin and other Altcoins — TradingView News

Forecast

The altcoin market has recently gained momentum following the approval of spot ETH ETFs in the United States. In May, the total altcoin market cap jumped by around 20%, with ETH responsible for half of this growth.

The upcoming airdrops, which will distribute project tokens worth billions of dollars to DeFi users, have the potential to generate more excitement in the altcoin market. Major multi-billion dollar project release events, such as LayerZero, Etherfi, Blast, and zkSync, are expected by the end of Q2 2024.

Analysis

The growing hype around the liquidity buyback benefitted Pendle Finance in May. Pendle is a multichain interest derivatives protocol that allows users to separate yield-generating token assets into principal and yield components.

PENDLE’s price and TVL increased by 58.6% and 50.5%, respectively, outperforming other large-cap DeFi projects. As of June 3, Pendle had a TVL of $6.28 billion. It has surpassed Uniswap’s TVL of 6.12 billion and now ranks 6th among the largest DeFi protocols.

Liquid staking tokens are currently the most commonly deposited asset on Pende and make up the top 5 pools with the highest TVL. Etherfi’s weETH pool alone represented $1.4 billion in TVL.CointelegraphCointelegraph

Users can split yield-generating assets such as Renzo’s ezETH on Pendle to generate a yield token (in this case, YT ezETH) and a primary token (PT ezETH). The PT token represents the principal of the underlying asset, while the YT entitles future returns.

Every PT and YT has a due date. PTs, which typically trade at a discount, can be redeemed for the underlying asset after this date. As for YTs, they continue to generate income until the maturity date, after which the YT no longer has any value. Additionally, YT ezETH holders are eligible for airdrop allocations from the underlying asset.

PT holders, on the other hand, will not receive any airdropped tokens. YT and PT are tradable and liquid.

Airdrop farmers have been incentivized to deposit their LRTs into Pendle since the introduction of point multipliers through cash rollover protocols. These multipliers increase airdrop allocations when an asset is held in a DeFi protocol, compared to when it is in a wallet.

For example, Renzo Protocol is currently distributing a 4x multiplier on its Pendle pool – on top of the already amplified airdrop exposure of YT tokens. By purchasing YT tokens, you can obtain 117 times more Renzo drop points than by purchasing the underlying asset.

This process of maximizing future airdrop allocations is called leveraged point farming. The multiplier incentive aims to expand the utility and adoption of LRT tokens within DeFi. All major LRT protocols have incorporated a point multiplier for Pendle ranging from 2x to 4.5x. This multiplier applies to both liquidity providers and YT holders.

It is worth noting that Pendle’s reliance on LRTs for its locked value means high exposure to a single risk. Pendle’s TVL saw a strong outflow of $1 billion in late April. This 25% drop in TVL was mainly due to the arrival of airdrop allocations from Etherfi, Ethena and Renzo.

Once a highly anticipated airdrop has been distributed, the incentive to use a trade-in protocol diminishes and many users withdraw their funds. However, the aforementioned projects have already announced second seasons of their airdrops to maintain their TVL.

Another outlier in the current market environment is NOT, the native token of a Telegram Mini DApp called Notcoin created by Open the Builders. NOT experienced a substantial price increase of over 400% from May 27 to June 3.

A mini DApp is a lightweight application integrated with major social media platforms. Notcoin can be played in Telegram without downloading additional software, significantly lowering the entry barrier. Players can earn tokens in-game, NOT just by tapping the screen.

With a simple revenue model and mini DApp design, Notcoin had already attracted over 35 million users as of May 16, with six million daily active users before the token’s listing. Notcoin distributed 78% of NOT to users at launch, and the rest was allocated for strategic development of the Notcoin ecosystem.

This wide distribution makes the community NOT treat as a memecoin of the TON ecosystem. As of May 30, there are 1.6 million holders of NON on-chain, which is more than other large-cap memecoins such as Shiba Inu (1.4 million), Bonk (721,000), and Pepe (235 000). Cointelegraph

The recent surge in NOT prices remains speculative. This could be due in part to the advent of more applications in the TON ecosystem, which has increased community awareness of NOT. There is a collaboration between Notcoin and a cat herding game named Catizen, which supports $NOT for in-game purchases.

Catizen became a top app during Open League Season 3, an event organized by the TON Foundation to incentivize TON users. With nearly two million daily active users, Catizen earned 50 million Notcoin in three days and burned 10% of its NOT on May 22. Additionally, Notcoin also burned 6.9 million NOT on May 30.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making a decision.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

Don’t miss a thing – Subscribe to receive email alerts directly to your inbox

Check Price action

follow us on X, Facebook And Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/ktsdesign