The month had barely started when new cryptocurrencies like CashFi (CFI) opened up for presale. There are many reasons to consider this new kid on the ”block”; mainly, it offers an array of incredible features, from liquid staking to cross-chain and cross-platform trading to yield farming and NFTs.
Cardano (ADA) and ApeCoin (APE) are also coins worth putting your money on. Let’s do a quick analysis of what they can all offer you.
Cardano (ADA) is one of the current cryptocurrency market’s top performers, with a market cap of over $17 billion.
It is the next-generation iteration of Ethereum (ETH), offering a flexible, scalable and sustainable blockchain designed to run smart contracts and drive the creation of dApps, p2E games, NFTs and new tokens.
The Cardano (ADA) network is open-source software for designers and inventors. The platform has continually maintained a secure, scalable and efficient system that endears investors and holders alike. ADA tokens are limited to 45 billion tokens, and they’ve grown to become a top choice as a source of passive income for persons seeking to hedge the current inflation.
Recently, Cardano (ADA) recorded significant traction in its ecosystem and waded over the $0.5 resistance when over 5,000 NFTs were minted on the network, leading to a 24-hour trading volume of $9.57 billion. Cardano’s native token, ADA, surged by more than 12% as it traded above the $0.51 mark, now selling at $0.56 according to CoinMarketCap.
APE is the native cryptocurrency for the ApeCoin (APE) ecosystem hosted on the Ethereum (ETH) blockchain and includes the ApeCoin DAO and all services utilizing the APE token.
ApeCoin (APE) is run by the APE Foundation, which overlooks the decisions of the ApeCoin DAO.
The token facilitates the growth and development of a decentralized Web 3.0 by powering governance, access to items, games and events, and rewards for community participation. As a user, you can trade ApeCoin (APE) on different exchanges, including Binance, Coinbase, KuCoin, Huobi, Kraken, etc.
The adoption of ApeCoin (APE) by Yuga Labs, the creator of the famous Bored Ape Yacht Club (BAYC) NFT collections, as the primary token for their new products and services, is argued ApeCoin’s (APE) biggest win.
The Bored Ape Yacht Club, which started in April 2021, comprises thousands of individual ape NFTs with their distinct facial expressions and clothing designs. The concept gained popularity with celebrities like Jimmy Fallon, Justin Bieber, and Paris Hilton investing in the NFTs, thereby increasing ApeCoin’sApeCoin’s market cap.
The company’s market capitalization is projected at $2.93 billion. Despite being one of the newest cryptocurrencies on the block, it is already placed 47th in market capitalization as of April 2022. According to CoinMarketCap, as of the time of writing, the price of an ApeCoin (APE) is $6.10.
CashFi (CFI) is a next-generation decentralized network built on the Ethereum (ETH) blockchain that builds on a unique fee-sharing approach to make diverse asset classes available to investors.
In the main, the design objective of this network is to consolidate both the collaborativeness and interconnectedness of various asset classes while creating a cohesive inter-chain ecosystem that makes for speedier, cost-effective, and scalable services.
CashFi (CFI) protocol enables HODLers to unlock liquidity for a higher yield by staking CFI via its inter-chain CFI NFT marketplace and a creator’s centre that will stimulate a smooth and cost-effective minting of NFTs on different chains.
The CFI token offers exceptional functionality and use cases within the CashFi (CFI) ecosystem for both cross-platform and cross-chain facilities through its product offerings.
The platform has plans to integrate PoS asset currencies into the DeFi space, powered by use cases like liquidity provision for DEXs and to facilitate lending and borrowing CFI Stake that will enable users to engage in cross-chain collaborations, thereby diversifying wealth creation and boosting their returns.
The ERC-20 CFI token, the epicentre of the CashFi (CFI) ecosystem, is a formidable crypto token designed to stimulate CashFi’s amalgamation of NFTs and DeFi. CashFi’s CFI will support the CashFi ecosystem’s off-chain and on-chain cooperation and collaboration across its tripod of liquid staking, CFI NFTs, and CFI Synthetics.
The CFI coin’s distribution model is meticulously crafted to support the long-term development of a robust, committed, and dynamic stakeholder ecosystem which will serve as the foundation for CashFi’s cross-chain platform and ecosystem.
In CashFi’s (CFI) platform, users will use the $CFI token for the governance, staking, CashFi work, CashFi bug bounty and CashFi NFTs.
Presale will be held from June 1st to September 26th 2022, launching on the same day.
Find out more about CashFi through these links: