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Highlights
- EasyFi (EZ) crypto is a permissionless money market protocol that operates on multi-blockchain network.
- Operating on Ethereum, Polygon, and Binance Smart Chain blockchain EZ crypto accelerates the liquidity deployment at a faster speed and is also cost-effective in nature.
- Ranked 1121, the token was trading at US$3.29 with a 24-hour trading volume of US$5,644,471.
EasyFi (EZ) crypto is a permissionless money markets protocol that operates on multi-blockchain network. Operating on Ethereum, Polygon, and Binance Smart Chain blockchain EZ crypto accelerates the liquidity deployment at a faster speed and is also cost-effective in nature.
By using the Proof-of-Stake (PoS) consensus mechanism, the EZ crypto has been designed to allow users to lend or borrow digital assets. Being blockchain agnostic, it also allows cross-chain asset settlements.
Also read: What makes Fetch.ai (FET) crypto so unique for IoT investors?
On Tuesday, the EZ crypto got a much-needed lift as the token saw an impressive rally by over 15% at the time of drafting and a massive volume rise by over 1,500%.
Reason for rally
The rally comes at the back of the announcement of the EZ cryptos staking program on Binance protocol. EZ staking program started on 17 January at 12 pm UTC. The staking program offers EZ stakers an annual percentage yield (APY) of up to 53% and a reward pool of 8,500 EZ tokens.
In a three-step program, the staking program on Binance will be completed in a 10-day, 30-day, 60-day & 90-day cycles during which the users can buy or stake new EZ tokens. Besides, the program also provides locked staking facility to new EZ stakers.
Also read: Why is Immutable X (IMX) trending today?
The EZ token provides users' the option of farm multiple assets by providing more liquidity to money market pools. Co-founded by Ankitt Gaur, EasyFi provides users the freedom to create new financial products. At the same time, it also allows the existing products to operate in a permissionless manner. Through the Proof-of-Reputation consensus, it facilitates a faster settlement process while retaining the custody with the asset owner’s network.
How is EZ crypto faring?
Ranked 1121, the token was trading at US$3.29 with a 24-hour trading volume of US$5,644,471. At the time of drafting the token was up by 16.28% with a live market cap of $8,338,925 and approximately 2,524,834 EZ coins in circulation, according to CoinMarketCap.
This is a good recovery considering it was one of the cryptos that lost major grounds due to crypto fraud in April 2021. The hacker took advantage of the computing device of the founder to transfer almost US$80 million to himself. The hack resulted in EZ token crash by 50% before an upgrade helped it to regain some grounds and made it difficult of the hacker to sell his stolen tokens.
Many experts are betting big on EZ crypto and expect that it could well be in the range of US$15 by the end of 2022. This is on the back of the upgrade that has made the project stronger. With a strong roadmap laid out for Q1 & Q2, the project that the price could touch something around US$15.
At the same time, experts are thinking it will all depend on the token’s bearish or bullish phase. A bullish run could well see the price move up which could benefit the project a great deal. Only time will tell how strong or weak the token finishes at the end of 2022, but for now, the investors are more than happy to see a positive movement.
