Decentralized finance (DeFi) protocols continue to make waves and grow in popularity.
DeFi is gaining more and more interest even amidst the global crisis that is triggered by the pandemic.
DeFi stands for decentralized finance, and it’s a revolutionary issue in the financial space, which has been gaining more and more popularity these days.
At the beginning of this strange year, there was a report by Binance Research, which was tracking the way that DeFi gains steam among the crypto savvy, and the movement was indeed gaining interest.
Crypto asset surges by more than 2,400%
The latest reports coming from the online publication the Daly Hodl note that there’s a crypto asset that has been able to skyrocket more than 2,400% just a few days after it launched.
The online publication mentioned above nites that Messari researcher Ryan Watkins highlights the fact that early investors of the DeFi token Meta (MTA) were up big in just a few minutes after going live.
MTA now trading at 16x its $0.15 seed price.
The dynamics around the offering were much more fair, but still the fomo drove the price up far higher than any other IDO so far.
I wonder if most people would’ve ended up paying less in the original offering at this point.
— Ryan Watkins (@RyanWatkins_) July 18, 2020
MTA is the native token of mStable, an Ethereum-based protocol that is targeting stablecoin investors.
The coin has been created to allow people to swap their cryptos with a low slippage or earn interest lending.
MTA holders receive incentives by participating in decentralizing the governance of the DeFi protocol.
“According to CoinGecko, MTA soared as high as $3.88 on Monday, representing a surge of 2,486% since its initial decentralized exchange offering (IDO),” the online publication mentioned above notes.
Today, the crypto market looks great with all the important coins trading in the green.
