Why did UNIFI Protocol DAO (UNFI) crypto zoomed by 26%?

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Why did UNIFI Protocol DAO (UNFI) crypto zoomed by 26%?

 Why did UNIFI Protocol DAO (UNFI) crypto zoomed by 26%?
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Highlights

  • UNIFI Protocol DAO (UNFI) primarily aims to collect non-custodial, decentralised, and multi-chain smart contracts for DeFi development.
  • The UNFI crypto can connect with any Ethereum Virtual Machines-based DeFi products to other blockchains using the Seed bridge.
  • On Tuesday, the 706-ranked token was trading at US$3.28 with a trading volume of US$9,42,62,763 over a day, according to CoinMarketCap.

UNIFI Protocol DAO (UNFI) primarily aims to collect non-custodial, decentralised, and multi-chain smart contracts for DeFi development. UNFI crypto acts as a bridge to connect the existing economy with the Ethereum-based DeFi products on various blockchains. The UNFI crypto can connect with any Ethereum Virtual Machines-based DeFi products to other blockchains using the Seed bridge.

The project is led by the trio, Co-founder Juliun Brabon, Lead Blockchain Engineer Daniel Blanco, and lead developer Kerk Wei Yang. The team of Sesame seed boasts of features, such as incentivised liquidity pooling loyalty rewards token, lending platform, etc.

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On 7 June, UNFI crypto was up by over 26% and a volume gain as well 1263.29%, according to CoinMarketCap.

Why is UNFI crypto rallying? 

The UNFI crypto has been making steady waves in the crypto market of late. In the past 14 days or so, it has witnessed a rally of 41.5%. The UNFI Protocol projects itself as one of the leaders in the Web3 development space. The team is aiming to resolve the issues, which the retail and institutional participants face in the Web3 space.

The UNFI crypto has been rallying on the huge announcement, which could take the UNFI Protocol to the next level. It further added that it would be announcing the blockchain, which would migrate to the UPv2.

Implementing a new and improved UP v2 system, which can migrate the existing UP token smart contract to the UP v2 token smart contract platform. With this upgrade, the UNFI protocol will be able to take advantage of the improvements in UP.

Related read: 3 Web3 innovations that could drive the crypto industry

What makes UNFI crypto unique is the fact that it allows traders to access faster, more straightforward cross-chain activity DeFi solutions for enterprises. The platform offers a rewards program, thereby attracting investors and traders to gain rewards from staking.

How is UNFI crypto faring? 

On Tuesday, the 706-ranked token was trading at US$3.28 with a trading volume of US$9,42,62,763 over a day, according to CoinMarketCap. The UNFI crypto was up by 2.43% at the time of writing, with a live market cap of US $1,42,48,150 with 43,45,405 UNFI coins in circulation.

UNFI crypto’s momentum is a good sign for the protocol and could bring more options to the DeFi ecosystem. With the upgrade, the UNFI crypto hopes it can deliver well-designed products, which will benefit the users. Though the momentum has been built in the past few days, the investors will expect it can sustain it.

But at the same time, they will also be wary of the fact that nothing can be permanent in the crypto market. The trends and cryptos need to be constantly monitored to ensure that no one takes wrong investment decisions.  

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