DeFi cryptocurrency accumulates high of 37,719% in 30 days after suggesting partnership with Visa
After what can be considered a bucket of cold water, in this case the less than encouraging speech given at the end of last week by Jerome Powell, chairman of the Federal Reserve (Fed), the US central bank, talking about further interest rate hikes. to try to corner inflation, the cryptocurrency market had a timid recovery on Monday afternoon (29), when the CoinMarketCap mapping showed the market capitalization exceeding US$ 977 billion and up 1%.
Bitcoin (BTC) was changing hands for $20,300, up 1.1%, a percentage not far from the main altcoins by market cap, although some of them were still operating in the red, such as XRP, exchanged hands for $0.33 (-1.8%), Polygon (MATIC) traded for $0.81 (-2.15%) and Avalanche (AVAX) traded for $19.17 (-5.1%).
To a large extent, Powell’s words contributed to the return of gains made by several altcoins during the second half of July and the first half of August, although some tokens managed to remain in the green over the last 30 days, mainly because of expressive rallies leading up to the Fed chairman’s “cooling off” speech.
On a monthly basis, Chiliz (CHZ) was up 61% and was quoted at US$ 0.2139, NEXO recorded growth of 30% and traded at US$ 0.97, FLUX was priced at US$ 1, 06 and registered an expansion of 89%, the Energy Web Token (EWT) presented a dilation of 67% and was equivalent to US$ 4.24, among other examples of tokens that remained high, despite the low of the last few days.
A separate case was MrWeb Finance (AMA) which, despite operating with a daily decline of 2.5% and being traded for US$ 2.15, had accumulated a high of 37,719% in the last 30 days, so it was monitoring . The project was ranked 321st in market capitalization, with an amount of US$ 64.2 million, down 2%, and a transaction volume of US$ 1.6 million, down 3%.
Thirty-day chart of the AMA/USD pair. Source: CoinMarketCap
From what the chart showed, the AMA price apparently almost entirely supported the vertical rally that took place on the morning of August 4th, when the token price rose from $0.0056 to $2.4. On the other hand, the project can still be considered little known, which does not allow us to say whether the project of the decentralized finance systems (DeFi) platform really has future ambitions. That’s because the AMA explosion happened the day after a publication by the project’s official channel on Twitter hinting that MrWeb Finance’s “smart” digital wallet application, which operates on the BNB Chain, Ethereum and Tron networks, could launch a crypto card in partnership with the global payments giant Visa, which would include the expansion of the platform to ATMs, information that was not detailed by the platform, nor confirmed by Visa.
$AMA @gate_io 🫣🫣🫣 What do you think? pic.twitter.com/5c3IaRJwTK
— MrWeb Finance (@MrwebFinance) August 3, 2022
In June, AMA was already on analysts’ radar as it led a group of six unknown altcoins that rose up to 40% while Bitcoin plummeted to $20,000, while Visa closed a partnership with Ripio that launched a debit card in Brazil. debit with 5% cashback in Bitcoin, as reported by Cointelegraph Brasil.
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