New Delhi [India] May 23 (ANI/ATK): Last week, the price of Bitcoin (BTC) reached its lowest level in sixteen months due to a major sell-off of digital assets. In addition, the collapse of the so-called stablecoin TerraUSD, which lost its dollar peg last week, continues to weigh down other big cryptocurrencies.
Given the ancient financial advice "buy the dip," investors may be seeking a piece of the volatile cryptocurrency market, hoping that the current drop is transient and not indicative of a long-term bear market.
If you believe that now is a good moment to purchase, we have compared two DeFi coins. The first is the established cryptocurrency Chainlink (LINK), while the second is a newcomer called Mountanaz (MNAZ).
This analysis will assist you in drawing a judgement and investing your funds for future returns.
Chainlink (LINK)Chainlink (LINK) is a decentralised oracle network that feeds blockchain-based smart contracts with real-world data.
LINK is an ERC-20 token that acts as Chainlink's native token. LINK is mainly used to incentivise user participation in Chainlink's decentralised oracle network.
In contrast to Ethereum (ETH), LINK employs the proof-of-stake (PoS) consensus algorithm, in which users host nodes and contribute data to smart contracts in exchange for LINK tokens.
Chainlink permits the integration of external data into existing blockchain networks, a crucial capability that enables blockchains to connect and use existing data.
As more blockchain networks use Chainlink's on-chain data initiatives, the value of the LINK tokens will surge considerably.
The LINK cryptocurrency debuted on the market in 2017 for less than 20 cents per token and remained below USD 1 until 2019. However, from 2020 onwards, the price increased considerably. It was about USD 2 at the beginning of 2020 and climbed to USD 36.83 on 20 February 2021.
As of May 10, 2022, the price of LINK has reached USD 6.04, making it a lucrative time to invest in the coin.
Mountanaz (MNAZ)Mountanaz (MNAZ), an upcoming Defi protocol, will provide users with effortless access to decentralised financial tools and services. The protocol aims to take peer-to-peer lending to the next level by establishing a liquidity pool with minimum fulfilment time.
Mountanaz's (MNAZ) pooling mechanism, which offers an efficient distribution mechanism for borrowers by generating a liquidity pool, is one of its most notable characteristics.
This pooling approach offers borrowers a more efficient asset distribution system since the time between a borrower's request and wallet credit is drastically reduced.
This innovative technique is more effective for borrowers since the current liquidity pool minimises the time required for requests.
Moreover, the Mountanaz (MNAZ) lending protocol will increase the effectiveness and efficiency of digital asset investment by using deposited and loaned assets to form various lending pools.
Interestingly, Mountanaz (MNAZ) is based on the Binance Smart Chain (BSC), which allows it to function quickly even during periods of heavy user volume. Additionally, the Ethereum Virtual Machine (EVM) is compatible with the Binance Smart Chain.
Moreover, BSC smart contracts are supported by Solidity, an object-oriented and highly secure programming language. The language is used to write EVM-compiled machine-level code. Meanwhile, Mountanaz (MNAZ) aims to attain strong security, rapid transaction speed, and automated transactions with Binance Smart Chain (BSC).
Last Thing...In today's volatile cryptocurrency market, investors want to be a part of value-based initiatives where they can be sure that the value of their investment will increase regardless of market circumstances.
Conversely, tokens like MNAZ and LINK are strong DeFi protocols. Therefore their future values should increase due to investments from key individuals in the industry.
As a result, this might be an ideal moment to invest, as the market is declining and there are many opportunities for long-term profit.
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