Ellipsis (EPS) crypto: Why is it gaining attention today?

Highlights

• Officially launched in March 2021, Ellipsis (EPS) crypto is a unique platform that can be used for stablecoin swapping at low slippage rates. 
• The EPS crypto seems to be on a high following the news of Ellipsis upgrade to V2.0. 
• As per CoinMarketCap, Ellipsis crypto is ranked 274 and was trading at e US$0.262200 with a volume of US$153,568,772 over a day.  

Officially launched in March 2021, Ellipsis (EPS) crypto is a unique platform that can be used for stablecoin swapping at low slippage rates. Operating as an authorised fork of Curve Finance, the Ellipsis crypto allows the veCRV holders to receive 25% of the airdropped token supply. 

The users can utilise its governance token, EPS, for various use cases within the network. Besides, the users get a chance to earn passive income through staking of the protocol.

On 14 April, the Ellipsis crypto was rallying over 3% and a volume gain of over 50%. 

Also read: What is Ethereum's Shadow Fork PoS testing all about?

Why is Ellipsis crypto gaining? 

The EPS crypto seems to be on a high following the news of the Ellipsis upgrade to V2.0. With the upgrade powered by the Binance Smart Chain protocol, Ellipsis Finance will migrate to the EPX token from the current EPS token. 

Curve Finance will adopt the EPX token, thereby allowing the users to lock their tokens and, in return, will get voting rights to earn trading fees and the ability to boost rewards.

Also read: Sweatcoin (SWEAT) token: What makes it unique?

The users can lock their EPX tokens on 14 April, which will give them an opportunity to earn on an immediate basis. One of the EPS protocol's unique features is that Ellipsis can earn rewards by locking their tokens. Besides, the holders do not have to pay any transaction fees for their dealings on the platform. 

How is Ellipsis faring? 

Ellipsis crypto is ranked 274 as per CoinMarketCap and was trading at US$0.262200 with a volume of US$153,568,772 over a day. The EPS crypto was up by 7.92% in the last 24 hours, along with a volume rally of 73.15%. The stablecoin swapping crypto had a live market cap of US$193,406,349 with 723,701,572 EPS coins in circulation. 

The rally today is not a one-off one. In fact, EPS crypto has been enjoying a good run in the market, registering gains of over 71.4% in the past 30 days. Even if we narrow it down, it has gained 36.9% in the last week or so, according to CoinGecko, indicating that it has been witnessing a bull run of late. 

This is an interesting thing for crypto enthusiasts. But one should remember that crypto markets are such that their fortunes can change at any given time. Volatility in this market is so high that its prices can fall at any given point, hence, one needs to be on the lookout for increased volatility and should make sure to do significant market research before entering the market.

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