This Altcoin Is Up 40%: Will The Rising Continue?

liquidity, its price has increased by more than 40% since the beginning of the week, reaching $3.37 per token. Therefore, it reached the highest value of 12 months. Price action has made LQTY one of the most profitable crypto assets of recent days among the top 200 by market cap. It’s possible that one of the reasons why both Liquity and its native token, which has been off the radar for two years, are recovering is due to the crisis in the stablecoin industry, where many big players have turned their attention to the protocol.

Among these big shots, the leading global crypto exchange, which has already managed to become the second largest owner of LQTY Binance is also included. Apparently, the black-and-yellow exchange has managed to accumulate more than 11.5 million coins in their wallets in the past four days. This equates to 11.5% of the total LQTY supply.

What is Liquidity (LQTY) and LUSD?

To remind you as Koinfinans.com, Liquidity, Ethereum It is a decentralized borrowing protocol that uses its own stablecoin, LUSD, built on (ETH) and pegged to the dollar. Users can get interest-free loans in LUSD against collateral in ETH. LQTY, on the other hand, functions to pay commissions and reward contributors to the protocol.

After BUSD and then USDC had problems and their position in the industry was shaken, many began to look for a safe haven in LUSD. This has resulted in the stablecoin’s capitalization increasing by 38.5% since the beginning of the year.

You can follow the current market movements here.

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