Crypto-Follow logo Crypto-Follow logo
NewsBTC 2022-02-04 18:00:21

QuickSwap Soars 7% After Partnering With CelsiusX, More Gains Ahead?

Largest decentralized exchange on Polygon, QuickSwap recently announced a cooperation With CelsiusX. The DeFi arm of Celsius, the decentralized financial services network founded by Alex Mashinsky, the partners are set to bring more liquidity and create yield opportunities for users on the sector. Related Reading | Celsius CEO: “Elon Is A Tourist In Crypto” The partnership also aids to onboard more users, from retail investors to institutions, into DeFi. In order to achieve this objective, CelsiuX will offer 2 popular cryptocurrencies, Cardano (ADA) and Dogecoin (DOGE), with a low presence on Polygon and will provide more liquidity for Ethereum (ETH). These cryptocurrencies will be available on QuickSwap as synthetic versions called cxADA, cxDOGE, cxETH. Per an official post, these tokens have low to non-existent liquidity for traders on Polygon. The partnership will seek to meet such a demand. Dogecoin (DOGE) has seen a massive rally from its lows below $0.010 in 2021 to an all-time high above $0.70. The cryptocurrency has been promoted by heavily influential personalities in business, such as Elon Musk and Mark Cuban, and it’s a symbol of the “GameStop Movement”. In the meantime, Cardano rose on the back of its large community and their bet that the network will become an Ethereum killer project one its DeFi ecosystem matures. Cardano introduced DeFi capabilities back in 2021 after successfully completing tree Hard Fork...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer