The DeFi industry has been booming thanks to the growing influx of investors into the crypto market as a whole. With more dApps and features introduced, creating greater demand for DeFi.
Top Defi projects like Chainlink (LINK) and Avalanche (AVAX) are benefiting from the prospect of rising prices due to growing demand. And a new project, Cutoshi (CUTO), is participating in profit sharing, bringing with it additional unique features.
Latest Chainlink Updates to Boost DeFi Adoption
Chainlink (LINK) has built a strong reputation in the DeFi industry for connecting smart contracts to real-world data. The project is making headlines in the latest crypto news for two major updates. The first is its staking mechanism which opens the opportunity for its users to win big, and the Chainlink Cross-Chain Interoperability Protocol (CCIP).
CCIP expands the interoperability of Chainlink (LINK), allowing it to serve many platforms, and developers are already sold. Recently, Mountain Protocol connected its stablecoin, USDM, to CCIP Chainlink (LINK) to enable its operation on different chains.
Source: CoinMarketCap
With the crypto market gearing up for DeFi tokens, Chainlink would most likely be one of the biggest beneficiaries of the resulting interest. On the Chainlink chart, LINK price recorded gains of 11.23% in a month, which could be the starting point for a huge price rally.
Renewed Interest in DeFi Sparks Bullish AVAX Price Prediction
So far, no serious news from AVAX has made headlines in crypto news for a while now, but the renewed interest in DeFi projects has put the spotlight on the main DeiF project . And now the AVAX price prediction is more optimistic than ever.
The first is Avalanche’s recent launch of a $40 million developer grant, followed by the Avalanche9000 upgrade. The Avalanche9000 is the biggest upgrade to Avalanche since its launch. With these developments, Avalanche (AVAX) provides the ideal environment to meet the growing demand for DeFi, and experts are tipping the price of AVAX for a rapid increase.
Source: CoinMarketCap
Avalanche (AVAX) is currently trading 19.77% above its performance over the past month and 3.83% on weekly trends. A 10,000% rise could take AVAX price well above $2,500.
Cutoshi Brings Utility to Meme Coins with DeFi Features
For a long time, the meme coin market has been looking for serious utility and Cutoshi (CUTO) decided to take advantage by providing a DEX to meet this demand. Cutoshi is built on the Ethereum network and the project leverages the security and efficiency of the network to create a platform where users can transact across different chains. With the Cutoshi DEX, exchanging and trading becomes easier and more accessible.
The project offers a wide range of other features that DeFi users can experience in the Cutoshi ecosystem. The Cutoshi Academy is a knowledge bank where members can learn about the DeFi industry and the meme project itself. Cutoshi also offers a farming option that rewards community members for completing tasks.
Additionally, according to its tokenomics, the Cutoshi project has implemented deflationary measures to manage its value. 7% of the total CUTO supply will be burned to create a shortage and increase demand for the token. The CUTO token is selling at $0.022 during stage 2 of its presale, and investors are stacking their wallets as they believe a price increase is in store as platforms begin to list Cutoshi, as we we saw with the recent listing on CoinMarketCap. This list further strengthens Cutoshi’s visibility.
Cutoshi Joins the Ranks of High-Demand DeFi Coins
DeFi projects like Avalanche (AVAX) and Chainlink (LINK) are still in high demand for the utilities they offer. With the growing interest in the DeFi industry, major coins like LINK and AVAX are being joined in anticipation by Cutoshi. With Cutoshi introducing DeFi to the coin industry, the project has an advantage as it aims to innovate.
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