Will CashFi and Avalanche Capitalize on JP Morgan’s Support for Bitcoin? By DailyCoin

Will CashFi and Avalanche Benefit From JP Morgan’s Support for Bitcoin?

2022 has been challenging for crypto investors as global markets continue to slump. However, the crypto industry is known for its violent reversals when the market has a positive outlook.

JP Morgan, a New York-based multinational investment bank, claimed that (BTC) is undervalued and has the potential to surge to $38,000. As JP Morgan changes its mind about Bitcoin (BTC), many people are wondering what might happen to the broader crypto market.

A surge in BTC price will have general repercussions and could send projects like CashFi (CFI) and (AVAX) skyrocketing.

A case for bitcoin

JP Morgan’s remarks should not be taken for granted as they could provide a guide as to where the crypto market is headed next.

The leading digital asset has been hovering around the $30,000 mark for a while. The crypto market has been observed to be correlated with the stock market, particularly tech stocks that have been in free fall.

The key observation is that while some altcoins and tech stocks have fallen, Bitcoin (BTC) has maintained a respectable level of support as it battles the sell-off.

Price aside, institutional investors are making big bets on crypto as veteran traders like Alan Howard and Paul Tudor Jones ramp up their cryptocurrency trading. This is a sign that greater things are yet to come and the belief that mainstream investors have in Bitcoin (BTC) and therefore the entire crypto market.

Some analysts have argued that Bitcoin (BTC) may not recover immediately, while others believe that the leading cryptocurrency has entered oversold territory and is likely to see an upward correction soon.

There’s still a long way to go, but Bitcoin’s prospects look bright. Altcoins will benefit and CashFi is waiting for its breakthrough.

CashFi (CFI)

CashFi is the next generation decentralized protocol. Its native CFI token is an ERC20 utility token that will form the heart of CashFi’s ecosystem.

CFI staking will play an important role in the CashFi ecosystem. The ecosystem uses liquid staking to reduce illiquidity for staked commodities.

With liquid staking, your tokens are delegated without losing access to the staked tokens, in this case CFI tokens.

Many users are expected to try or turn to liquid staking as legacy staking has several shortcomings including:

  • Asset Inefficiency – Staking tokens cannot be used for other activities like lending and borrowing as they are locked.
  • Lack of instant liquidity – Users cannot access their staked tokens at all times.
  • Decreased security – many people stay away from staking because staked tokens are kept for a long time. This could be dangerous if a protocol is hacked or the value of the tokens wagered decreases and token holders want a payout.

CashFi aims to solve these challenges through liquid staking.

DeFi users will likely flock to the CashFi ecosystem in droves to earn passive income while unlocking new benefits and features they haven’t enjoyed before.

And as the price of Bitcoin increases, it will give many people room to keep their tokens staked, especially the CFI token, as its value is likely to increase.

Avalanche (AVAX)

Avalanche (AVAX) is one of the fastest smart contract platforms in the crypto industry. It’s fast, environmentally friendly and inexpensive.

It has grown into an ecosystem with more than 450 projects. Its native token is AVAX and it is used to pay fees related to trading on the platform.

The Avalanche (AVAX) ecosystem is likely to attract more projects and users as the Bitcoin-led crypto market begins to recover.

For more information on CashFi, visit the official website, Telegram, Twitter (NYSE:) and Instagram. To learn more about presales, click here.

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