DOGEUSD

According to Coinmarketcap, Liquity (LQTY) has increased its price by 41.91% in the last 24 hours, an exciting incident worth looking at. Related Reading: Cardano Price Might Reclaim Bullish Momentum At This Level LQTY is currently trading its price at $0.98 per coin and ranked #269 in the entire crypto ecosystem, with a market capitalization of $93 million. The token’s price has surged by 40.83% in the past seven days, though it is 98.73% below its all-time high of $62.97. Liquity is a Decentralized Finance (DeFi) borrowing and lending protocol that allows users to offer ETH as collateral and, in return, mint stablecoin LUSD. The protocol is known for giving out interest-free loans of the LUSD stablecoin at a minimum collateral ratio of 110% and staking services whereby users receive stake rewards through revenue generation mechanisms. LQTY To Continue With Its Bullish Trend?                                                      With an uptick in its trading volume and market cap, Liquity’s value has shown an impressive upward trend. Given the surge in terms of its adoption as well as its TVL (Total value locked) worth more than $553 million, Liquity has shown that it has become a popular lending platform among users. User adoption is steadily rising because Liquity solves some of the flaws in similar DeFi Protocols like MakerDAO, and Aave, among others, which offer borrowing on a competitive basis. Liquity allows users to get 0% interest loans against ETH used as collateral. The protocol offers the cheapest opportunity for long-term borrowing against Ethereum. Investors often use the token to enhance their leveraged position up to 11 times by getting the LUSD stablecoins against ETH and then reselling the LUSD on the open market to acquire more Ether. Therefore, the token (LQTY) has the potential to continue experiencing high adoption and to see further buying pressure from crypto investors willing to take on more risk to increase their holdings.  Crypto Market Analysis While Liquity (LQTY) is up 43.34%, the broader cryptocurrency market is down 2.02%. The total crypto market cap is currently trading below the $1 trillion mark as the values of most cryptocurrencies trend to the downside.  The most significant digital asset, Bitcoin, failed to surge its price above the $22,000 level over the weekend. Liquity (LQTY) became the top gainer in the past 24 hours with a more than 30% increase. Other significant altcoins, like Ether, Dogecoin, XRP, Solana, Litecoin, and others, also experienced losses with few gains across the board. The crypto industry is currently going through turmoil as a regulatory crackdown led by U.S. regulators has caused fears in the market. Thus causing a massive loss in the sector’s valuation. A lot of capital outflows have been noticed in significant digital assets. Related Reading: Fantom Moves Closer To Crucial Support, Is This Short-Term Price Correction? The global crypto market has dropped below the $1 trillion capitalization to $952.34 billion. In recent years, market observers often consider the $1 trillion market cap a critical psychological level for investors.