While Bitcoin remains in a slump following its peak earlier this month, some altcoins are primed to surge. That’s according to analysis from CryptoBusy and CryptoRevolution, both of which consider Defi Yield Protocol (DYP) to be a great investment opportunity in the near term.
DYP Primed For a Pump
Earlier this month, traders CryptoBusy and Crypto Hustle reviewed altcoins with the greatest return potential during the 2021 bull cycle. Trading for about $0.72 at the time, Busy said that DYP was “potentially a 100x altcoin, or higher”.
“Great team, great whitepaper, great roadmap, and great technology behind this as well,” said Busy. The Youtuber cited some of DYP’s unique features, including its anti manipulation mechanism. The mechanism helps maintain the stability of platform rewards granted in ETH, and other platform native tokens like BNB and AVAX.
Days later, CryptoRevolution included DYP as his “gem pick” in a video titled “parabolic altcoin picks”. At the time, the analyst spotted a “double bottom” in its price movement, which he called an “amazing technical pattern”.
“Single bottoms pay the bills, double bottoms pay them twice,” said Revolution. The Youtuber personally invested in the crypto at the start of November, and reaped 70% gains within only 10 days.
Personally, he believes DYP could reach up to $1.56 in the near term. This is more than double its current value, according to CoinMarketCap data.
Part of what spurs the YouTuber’s confidence are the number of updates Defi Yield Protocol has on the horizon. These include the launch of an NFTs Marketplace, staking pools on Avalanche and Ethereum Networks, and NFT dapps. More recently, DYP unveiled its staking, farming, and buyback pools on Binance Smart Chain, facilitating APYs of over 1000%.
What is Defi Yield Protocol?
Defi Yield protocol is a defi platform facilitating staking, yield farming, NFTs, and multiple other trading solutions. It is the first Defi platform to reward its liquidity providers directly in Ethereum.
Besides its DeFi features, DYP functions primarily as a dashboard for decentralized tools. These include, but are not limited to decentralized scores, trust vote systems, and yield farm data, all to provide investors with accurate info before making any decision.