Monday, January 24

It’s dumb season again with returns of over 100% in two months on some currencies

Ovex may be better known as a crypto arbitrage firm, but it is also an exchange that offers close to 40 cryptocurrencies.

Below is a table of the coins listed only since September of this year.

Source: Ovex

The best of the lot is Solana, which was listed on Ovex on September 1 and has more than doubled in price since then.

Solana has been billed as the “Ethereum killer” because it has been designed to handle all the choke points that make Ethereum inefficient, such as the ability to handle massive volumes of transactions at low cost.

It is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with more than 400 projects, from decentralized finance (DeFi) to non-fungible tokens and Web 3.

All of these innovations represent a move toward open, trustless, and permissionless networks. DeFi allows anyone with crypto to earn interest, borrow, and lend using their crypto as collateral. At no time will you be asked to even provide your name. No central bank or government authority can avoid this, therefore it does not have permission.

This is where blockchain networks like Ethereum, Polkadot, Chainlink, Cardano, and Solana come in, all of which are offered on Ovex.

Solana can process 2,800 transactions per second at a minimum cost of $ 0.00025 per transaction. Ethereum cannot achieve anything like this and average costs $ 6.74 per transaction. Upgrades to the network known as Ethereum 2.0 will increase transaction speeds to 100,000 transactions per second, although we are still a bit far from this happening.

Click here to start buying and selling cryptocurrencies on Ovex.

“We are continually expanding the range of coins we offer, but it is interesting to note how well most of the recently listed coins have performed,” says Ovex CEO Jon Ovadia. “The timing of their listings was very lucky, and the people who bought Solana just two months ago would have more than doubled their money.”

While the Shiba Inu coin shows a 28.4% drop since November 1, it has actually risen 629% since the beginning of October. It skyrocketed ten times in October after Tesla CEO Elon Musk started tweeting about it, but has since given up more than 40% of his earnings. It is named after a Japanese breed of hunting dogs and is considered a “meme” coin like Dogecoin, as it is more of an inside joke than a serious cryptocurrency. That hasn’t stopped it from achieving a market capitalization of $ 35 billion, more than many S&P 500 companies.

Cardano is another “Ethereum killer”. It has been listed on the Ovex stock exchange since September 1, although it has lost 22.8% since then, it has risen 200% since February this year. Like Solana, he set out to fix some of the ‘bugs’ in Ethereum that made that network clunky and inefficient.

Fantom is a smart contract platform that provides DeFi services to developers using its own consensus algorithm. Along with its internal token FTM, Fantom aims to solve the problems associated with smart contract platforms, specifically the speed of transactions, which developers say they have reduced to less than two seconds. The Fantom token, under the ticker symbol FTM, has nearly doubled since the beginning of October.

Yearn Finance is an aggregation service for DeFi investors, using automation to enable them to maximize the returns from yield farming. It was started by South African Andre Cronje, who participated in projects such as Deriswap, Keep3r Network, and StableCredit. Yearn Finance (YFI) has gone up more than 3 times since it was launched just over a year ago.

Another coin recently launched by Ovex is Curve (CRV), which is up 69% since October 1. Curve is a decentralized exchange of stablecoins (these are currencies backed by real assets, such as the US dollar or the rand) that use a manufacturer automated market to manage liquidity. Launched in January 2020, Curve is now synonymous with the DeFi phenomenon and has seen significant price growth over time.

Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to decentralized finance. It is built in Solana and does not have any permits. The Serum (SRM) token was listed on October 1 and has dropped 12.5% ​​in price since then.

Keep3rV1 (KP3R) serves as a job board that facilitates interaction between job posters, such as decentralized finance protocols, and job executors, known as Keepers. It was listed on Ovex on November 10 and is already up more than 15%.

Click here to start buying and selling cryptocurrencies on Ovex.

“By selecting these coins, we strive to find the most exciting crypto stories out there and provide our customers with a way to get quick access to them,” says Ovadia.

“Not all will end up being successful, but many will be, and the key to sound investment is diversification. We always advise clients to spread their investments across asset classes and within the crypto space, through different cryptocurrencies. “

About Ovex: Ovex It operates on the largest over-the-counter (OTC) crypto desks in South Africa, enabling high-net-worth buyers and institutions to purchase large volumes of crypto instantly and at low fees. It also offers a crypto arbitrage service for those looking to benefit from the price difference in cryptocurrencies between local and foreign exchanges, and offers interest accounts where clients can earn up to 10% a year on certain cryptocurrencies (and more for large ones). amounts of cryptocurrencies).

Presented by Ovex.

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