A decentralized finance (DeFi) and gaming altcoin was in a meteoric uptrend throughout March.
Witnessing this incredible rise in the last 1 month Xido Finance (XIDO)to liquidity providers yield-farming It is an automated market maker with a limited supply of 100 million XIDO tokens, offering (liquidity mining) incentives.
Xido Finance entered the crypto market in the third quarter of 2020, while the XIDO token was launched last June and peaked at $481 before experiencing an intense correction that same month. The project was launched on Binance Smart Chain (BSC).
While explaining the purpose of the project, the Xido Finance team uses the phrase “to enable the creation of a completely transparent, community-owned and open-source oracle platform.”
Why is Xido Finance (XIDO) rising?
Recently, there have been several developments that could cause this movement in the price of the cryptocurrency. This week, the Xido platform officially launched its play-to-win game project to “take its first steps into the metaverse.” Besides that, XIDO token was also recently listed on Singapore-based crypto exchange XT.com.
According to the project’s website, Xido Finance plans to launch its own wallet this year as it works to get more exchanges to list XIDO. XIDO Finance is looking to build its next iteration later this year.
The project’s local asset, XIDO, is trading higher at the time of writing, with a market cap of $2,049,535,000 and a price of $72, up more than 200 percent from where it was priced last week. The cryptocurrency, which is ranked 59th on CoinMarketCap’s crypto list, is trading with an increase of over 1000 percent compared to the last 30 days.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.