Amid increasing pressure on centralized entities in the crypto market, decentralized finance (DeFi) platform CLiquity’s native token, LQTY, has gained more than 50%.
Interest in decentralized applications continues to increase rapidly after US regulatory agencies have increased their pressure on stock markets in recent days. LQTY, the local token of Liquity, which offers a decentralized liquidity alternative against censorship, became one of the projects that benefited from the said volatility.
Finally, with the production of BUSD stopped by Paxos, LQTY, $0.69 from the levels with more than 50% increase six-month high for $1.06 rose. Also, Liquity’s own LUSD a named stablecoin There is also.
In his statement to the press, DeFi researcher Ignas emphasized that the need for decentralized finance is increasing in the light of recent events:
BUSD proves the need for decentralized and censorship-resistant stablecoins. This is included in Maker and Liquidity’s mission. Maker’s Endgame Plan envisions regulatory pressure on crypto and RWAs, thus preparing to make DAI censorship-proof. The same mission applies to the LUSD stablecoin, the only difference being that the collateral is only ETH.
CoinGecko According to the data, at the time of writing the news, a correction LQTY entering phase, from $0.94 is being traded.