NFTs Drive List of Fastest-Growing Protocols on Ethereum
Projects based on trading or lending Ethereum NFTs are soaring in TVL over the past month.
NFT Lending, Marketplace
Non-Fungible Tokens (NFTs) have advanced far from being pixelated JPEGs for crypto degens to flex as Profile Pictures (PFPs) on social media. Now, users expect (or would like to see) added-value benefits from holding or trading popular NFTs.
The NFTFi trend is apparent in the Ethereum ecosystem, where three of the top five fastest-growing protocols by Total Value Locked (TVL) involve NFTs.
According to DefiLlama rankings, the five Ethereum protocols by TVL growth in the past month (filtered by total TVL of more than $10 million) are: Arcade xyz, Llama Airforce, Blur, ParaSpace and Beefy.
Of those, Arcade xyz, Blur and ParaSpace provide NFT lending or trading. Let’s take a look at the top 5 fastest-growing protocols on Ethereum:
Arcade xyz
- Name: Arcade xyz
- Description: Decentralized loan marketplace for NFTs
- TVL: $20 million
- 1-Month TVL Change: +4,135%
Llama Airforce
- Name: Llama Airforce
- Description: Yield aggregator for the Curve ecosystem
- TVL: $28 million
- 1-Month TVL Change: +288%
Blur
- Name: Blur
- Description: NFT marketplace
- TVL: $119 million
- 1-Month TVL Change: +195%
ParaSpace
- Name: ParaSpace
- Description: Cross-margin NFT lending protocol with liquid staking
- TVL: $144 million
- 1-Month TVL Change: +186%
Beefy
- Name: Beefy
- Description: Multichain yield optimizer platform
- TVL: $48 million
- 1-Month TVL Change: +117%
What is Ethereum:
Ethereum is an open-source, distributed computing platform based on blockchain technology that can execute smart contracts - that is, the terms written in the contract will be executed transparently, automatically when the previous conditions are satisfied, and no one can interfere. At the same time, Ethereum also allows developers to build decentralized applications (dApps) and decentralized autonomous organizations (DAO).
Find more about Ethereum here:
Website | Twitter | Documentation | Whitepaper | Reddit | Discord | YouTube | GitHub | Ethereum Foundation Blog |
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BlockDAG on the Brink of a 10,000x Increase, Aiming to Eclipse Bitcoin Cash and Outperform Aptos' Price Stability by 2024
With a forecasted monumental increase of 10,000 times, BlockDAG is on course to eclipse Bitcoin Cash in the news sphere and outperform the price stability of Aptos by the year 2024.
News surrounding Bitcoin Cash is abuzz with the announcement of Coinbase's future contracts, hinting at a significant market evolution. Parallel to this, the Aptos price has demonstrated a strong resilience, markedly diverging from Bitcoin’s fluctuating values, showcasing its strong appeal to investors. Amid these developments, the BlockDAG Network is set to usher in a new era for decentralized finance.
Each of these components is pivotal in transforming the future landscape of finance, challenging traditional financial institutions, and drawing attention from investors scouting for the top alternative coins in 2024. This analysis delves into their individual impacts on the future of banking, spotlighting BlockDAG's potential to shift the crypto investment landscape.
Transformative Future for Bitcoin Cash
Coinbase Derivatives has recently made headlines with its announcement to initiate cash-settled futures contracts for Bitcoin Cash (BCH) by April 1, 2024. This strategic initiative by Coinbase aims to redefine these assets from securities to commodities, thus navigating around regulatory barriers.
Such moves have sparked a broad discussion on regulatory classifications and underscored the dynamic nature of cryptocurrency markets. This development in Bitcoin Cash news marks a step towards the maturity and institutionalization of the cryptocurrency domain, with investors looking forward to enhanced liquidity and increased market participation, fueling ongoing interest in Bitcoin Cash.
Aptos Price's Notable Performance Amidst Bitcoin's Downturn
Aptos has showcased a commendable performance, often mirroring Bitcoin's path but with significant divergences that led to remarkable price increases. Even as Bitcoin experienced a recent decrease in value, Aptos remained stable, illustrating its resilience.
Remarkably, from March 14, during a period of high for Bitcoin, Aptos saw a 16% price increase, whereas Bitcoin dropped by 12%, challenging the usual market patterns. This indicates Aptos' unique market behavior and its ability to prosper independently within the cryptocurrency market.
BlockDAG: A Pivotal ROI Innovator in 2024
BlockDAG is emerging as a pivotal cryptocurrency, set to redefine the market with analysts forecasting a potential 10,000-fold increase post-launch. This positions BlockDAG as a formidable competitor, potentially becoming the next significant cryptocurrency by 2024.
With its competitive price of $0.003 during the Batch 5 presale, BlockDAG provides a strategic investment opportunity ahead of the anticipated bull run in 2024. An investment of $1,000 at this stage could see a substantial return, estimated to hit around $15,000 once the coin's price progresses further with each batch.
The presale strategy of BlockDAG, consisting of 45 batches, ensures an equitable participation process, allowing all interested parties to maximize their investment returns. BlockDAG is rapidly becoming recognized as a must-buy emerging cryptocurrency, inviting investors to partake in the forthcoming financial revolution for significant gains.
Moreover, BlockDAG’s presale is commendable for fostering a sense of community among enthusiasts, providing a platform for exchange of ideas and exploration of the cryptocurrency’s potential.
This environment is particularly welcoming for those new to cryptocurrency, offering opportunities for learning and collaborative entry into the market. With the presale set to ensure robust liquidity and trading opportunities for early adopters, BlockDAG is on a steadfast course to achieving a $600 million milestone by 2024.
Conclusion
In the realm of cryptocurrency, Bitcoin Cash introduces innovative financial tools, as recent developments show. Concurrently, Aptos displays a remarkable price resilience, indicating its stability amidst market volatility.
However, BlockDAG captures the limelight, promising to revolutionize decentralized finance with its exponential growth potential, setting the stage for a transformative future in the crypto domain.
Discover More about BlockDAG Network!
Website | Presale | Telegram | Discord
Disclaimer: This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $400. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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