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3 reasons why the price of QuickSwap (QUICK) has increased by 50%

Decentralized finance (DeFi) and the control it gives users over their assets is one of the most applicable sectors of the cryptocurrency ecosystem, but the general public is still hesitant to interact with most DeFi products due to the steep learning curve and the opportunity to lose funds. One decentralized exchange (DEX) taking steps to bridge the gap between DeFi and centralized finance (CeFi) is QuickSwap (QUICK), the top-ranked DEX on the Polygon network. Data from Cointelegraph Markets Pro and TradingView shows that QUICK’s price saw a rapid 50% increase in value from $166.40 on Jan. 31 to a daily high of $250 on Feb. 1 after 24-hour trading volume jumped 168%. had risen.QUICK /USDT 4 Hour Chart. Source: TradingView Three reasons for the rapid recovery in QUICK price include the announcement of a partnership with Celsius, the addition of new high-yield liquidity pools and the launch of stable-stable pools that offer higher returns and the risk of temporary losses Reduce. QuickSwap Partners with CelsiusX The most significant recent development for QuickSwap was the announcement that the DEX was partnering with CelsiusX, the DeFi arm of the Celsius banking and financial services platform focused on the integration of CeFi and DeFi. #DeFi is about to get much more interesting @CelsiusXDeFi x QuickSwap x @0xPolygon ️‍Now THAT is progress@CelsiusNetwork $MATIC $QUICK— QuickSwap (@QuickswapDEX) Jan 12, 2022 Collaborating with QuickSwap also makes it possible for creating packaged versions of popular tokens such as Cardano’s ADA and Dogecoin (DOGE), which currently do not have a strong presence on Polygon, along with well-funded liquidity pools for these assets, so that users, bots, arbitrageurs and institutions can easily access that token. This also provides DOGE and ADA holders with additional ways to use their assets in DeFi to earn a return rather than simply holding their DOGE or staking their ADA. New liquidity pools could attract a new breed of investors A second factor that helped boost QUICK’s price and momentum was the launch of several new liquidity and ‘syrup’ pools. This could be a bullish sign, especially when you consider that a handful of projects launched in January and integrated bridges to the Polygon network. Aside from the addition of support for DeFi protocols such as Atlantis Loans or the layer-one blockchain solution Orbs (ORBS), QuickSwap has seen a flurry of additional support for non-functioning tokens (NFT) projects, which, despite its broader weakness in the cryptocurrency market. Some of the newly supported NFT projects on QuickSwap include the UniArts network, Dogira, OneRare, and Blockchain Monsters Hunt. Related: $1 Billion of ETH Burned in Last 30 Days Due to Record High OpenSea NFT Transactions New Strike Options for Stablecoin Holders A third factor helping to draw users and liquidity to the QuickSwap DEX is attractive returns for stablecoin stablecoin liquidity providers -pairs. Giving into the stable sounds good? ⚖️QuickSwap offers several stable-stable pools where LPs can earn more than 14% #APY and balance the risk of temporary loss.— QuickSwap (@QuickswapDEX) Jan 24, 2022 These pools offer users the opportunity to earn decent returns, while also reducing the risk of temporary loss associated with other types of liquidity pools Reduce. This could also provide more attractive stablecoin returns for depositors on the Celsius network and increase the overall liquidity locked to the QuickSwap protocol. The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risks, you should do your own research when making a decision.
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