DeFi Movement Gains More Popularity: DeFi On ICON

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 popularity.

It’s also worth noting that Binance said that DeFi movement is growing, and it seems that there’s still more to happen until it goes mainstream.

The researchers anticipated more growth.

“In our views, we expect DeFi to further garner interest from industry participants. However, use-cases have, so far, remained mostly confined within the existing crypto-community…” according to the report.

ICON and the DeFi movement

ICON is also interested in the subject as expected and the team has an interesting blog post on this. They begin by saying that the vibrant DeFi ecosystem largely lives on Etehreum, but its potential did not go unnoticed by other smart contracts platforms.

Back in March, they noted that Block42 – a blockchain solution’s firm – shared their plans to roll out Liquid ICX.

It’s been revealed that this is a new form of Icon’s native currency – ICX – tailored towards DeFi-like solutions.

Check out the tweet fro back then:

In the blog post, ICON explains why this is important and we recommend that you check out the complete details in the original blog post.
Other than this, in terms of pricing the digital asset ICX is trading in the red at the moment of writing this article, and the coin is priced at $0.334495.

Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Andreas Townsend Author

I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.

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