By Aaron - Crypto Specialist - 08-12-2021
Crypto market investments are experiencing a slight fall to end 2021, with prices dropping across the market. However, some coins have not followed this pattern and have demonstrated growth. DeFiChain (DFI) has been bouncing back fast after witnessing lows a couple of weeks ago. Analysts have read the data points and predicted that the value for buying DFI crypto would further increase in the future.
DeFiChain (DFI) is a decentralised finance (DeFi) blockchain platform that aims to provide fast financial services. The platform allows for affordable, fast, and smooth DeFi transactions with minimal smart-contract risks. As previously mentioned, a lot of the crypto market has been experiencing lows. In fact, the market, including Bitcoin (BTC), has recently undergone a correction, dropping prices down by 22%. Despite the widespread drop, DeFiChain was unaffected by the downward trend. Instead, DFI increased its price to its new all-time high (ATH) of $5.70, a 76% increase. Reportedly, DFI's 24-hour trading volume has massively increased to $24.3 million.
According to sources, the reason for DeFiChain's recent success comes down to a few things. First of all, new decentralised assets have been launched on the DFI mainnet and even allowing staking options for DFI holders. DeFiChain has announced that users can now access the platforms pools that allow them to stake significant cryptos like Bitcoin investments. Another reason is a recent surge in transactions; this is both in buying DeFiChain and user transacting across the network. The increase in transactions is mostly due to the new asset launches on the platform as it has attracted many new investors. Finally, DFI's Total Value Locked (TVL) has now officially hit a new ATH of $1.83 billion.