This low-cap DEX altcoin surges 47% amid crypto market stagnation
And everyone said keep an eye on this particular altcoin and yes – Sifchain – and they were right.
Sifchain (EROWAN), a low-cap DeFi altcoin, is skyrocketing 47% as broader crypto markets become stale.
EROWAN has recovered from a low of $0.114 on April 23 and currently stands at $0.168.
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What is Sifchain (EROWAN)?
At the 271stSt Among all cryptocurrencies, SifChain is at its seven-day high at 47%. SifChain is now at a price point above resistance; It may approach its volatility phase once the rally is over.
SifChain has been trading on low volumes for seven days, but it is now in an extremely bullish sentiment reading and is steadily rising.
Many traders are anticipating the market behavior of sifchain EROWAN as it has emerged as a powerful altcoin despite the immobility of Bitcoin, Ethereum and all other stablecoins.
Altcoin saves investors tremendous fees
Sifchain is the first omni-chain decentralized (DEX) exchange of its kind geared toward digital assets and altcoins, enabling liquidity and freeing investors from ridiculous trading fees and immature trades.
Sifchain is targeting around 20 to 25 blockchains to facilitate cross-chain integrations.
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The only way for DAOs to be self-sufficient is to get their hands on enormous funding. Enabling cross-chain liquidity is important for continuity in the blockchain space.
Sifchain comes from the Cosmos Software Development Kit (SDK) and runs on the Cosmos Network blockchain network along with others like Akash, Kava, and Terra.
EROWAN – 100x stronger than ETH-based DEXs
Apart from that, EROWAN is 100x more powerful and robust when it comes to transaction speed and trading fees compared to Ethereum-based DEXs.
As a DEX, Sifchain has the best in the world in terms of order books and liquidity pools, allowing for robust order execution.
Users are required to exit a log as soon as APYs fall, making it very difficult to maintain their liquidity. The majority of protocols encourage liquidity through annual percentage returns on APYs.
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Now, the problem with keeping APYs relatively high is that it tends to push the native token price aside. PMPT is the solution to this dilemma.
The goal of PMTP is to increase ROWAN value so that the community is encouraged to HODL, which will strengthen ROWAN liquidity in the long term.
For this purpose, the ROWAN exchange rate is adjusted in small steps on the Sifchain.
PMTP applies to every change. As ROWAN’s market value skyrockets, the swaps also appreciate in value over time.
Featured image from Medium, chart from TradingView.com
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