The movement in the cryptocurrency market does not end. An altcoin, which is also on the list of the world’s largest crypto exchange Binance, showed surprising price movements.
Altcoin price flew first, then crashed
Dego Finance is a decentralized ecosystem launched in 2020 that offers a diverse combination of Non Fungible Token (NFT) and decentralized finance (DeFi) tools. In other words, an independent, open NFT ecosystem. Dego Finance’s native token DEGO witnessed an astonishing price action today. The altcoin price has nearly tripled vertically in a short time. However, its decline has been similar.
DEGO was almost horizontal during the day. However, it made a surprising attack at noon, flying from $1.67 to $6.35. However, this did not last long. Shortly after, it also dived towards the bottom and fell to $2.59. On the other hand, despite this drop, the altcoin is in the green zone of 54% on a daily basis at press time.
This move of the altcoin project brings to mind the ‘pump-dump’ scenario in the crypto money market. Because such extraordinary price increases in cryptocurrencies are based on important news. If there is no significant development in the background, this naturally brings to mind a kind of fraud, ‘pump-dump’. When we scanned the news, we couldn’t find any important news about Dego Finance that would affect the price. In addition, we did not encounter any description of the project.
What is Dego Finance (DEGO)?
Launched in 2020, Dego Finance is a decentralized ecosystem that offers a diverse combination of decentralized token (NFT) and decentralized finance (DeFi) tools. It is an independent, open NFT ecosystem.
Any user is allowed to initiate an NFT covering the entire life cycle of the product and initiate mining, auctions and trading. Dego’s NFT protocol is a cross-chain, layer two infrastructure that can be used for user acquisition and token distribution for Blockchain projects.
Dego uses a modular combination design concept that combines various elements of a product to create subsystems with specific functions.
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