In some ways, crypto is similar to the gold rush that regularly hit the world between the 17th and 20th centuries. The discovery of gold at Sutter’s Mill in 1848 resulted in an influx of over 300,000 migrants to California. But mining the gold was hard work, and the trip to California alone cost the lives of many soldiers of fortune.
Fortunately, today we don’t have to leave our home to find happiness. Although regulations differ from country to country, crypto is available worldwide. But where previously individual miners searched with a pan of gold, crypto investors now have to search over 11,000 cryptocurrencies and tokens available in the market to find treasure. Finding a 1,000x gem under these conditions is rare, but CryptoBusy did a lot of research and named the DeFi Yield Protocol (DYP) as their choice for 1,000x in their August 14 video.
DYP has not been immune to price movements in the broader market throughout the year. As Bitcoin fell from its all-time high of $ 64,000 to $ 29,000 between April and June this year, DYP also fell from its all-time high of $ 5.20 to just over $ 0.24 a month ago . Trading at $ 0.3259 at the time of inclusion, CryptoBusy praised DYP for its anti-tampering capabilities. This feature is seldom seen in cryptos, but it should perhaps be more widespread to prevent whales from controlling the network. If the market takes on this innovative function to a large extent, DYP will benefit from it.
While a 1,000x would be nearly impossible for most cryptos, a 1,000x DYP would land somewhere around $ 3.6 billion in market capitalization, which would “only” make it the 37th largest crypto. Therefore, CryptoBusy comes to the conclusion that a 1,000x is definitely possible for DYP.
In fact, since the video was released less than two weeks ago, the DeFi Yield Protocol has seen prices soar nearly 150% to a local high of $ 0.79 as more people become aware of their innovative solutions. However, if CryptoBusy was right, that’s nothing compared to a projected price of over $ 300 per DYP at 1,000x.
While the current bull cycle continues, the DYP team isn’t just waiting for people to notice. They recently expanded into the Avalanche chain, sponsoring several sporting events, and added new features to their protocol, such as the buyback program. For those who are just recently sticking their toes in the crypto waters, DYP’s Teki Kola also frequently offers freebies on Twitter, and the team recently created many beginner-friendly tutorials to get started with the DeFi Yield Protocol platform.
The DeFi Yield Protocol has also managed to hit some key numbers that clearly show how undervalued it is right now:
- 8708 ETH, 6513 BNB and 9264 AVAX worth $ 31,824,779 paid to the liquidity providers; So imagine that they managed to pay their users more than $ 31 million and their market cap is only $ 8,141,223.
- – $ 9,501,902 in liquidity via Uniswap, PancakeSwap and Pangolin (largest DeFi exchanges from Ethereum, Binance Smart Chain and Avalanche); even their total liquidity is greater than their current market capitalization.
- – $ 12,172,946 included in various pools in their Farming, Staking and Buyback pools.
All these numbers show how undervalued the DYP token is and why the well-known Youtuber and crypto analyst made this price prediction. Another important factor to consider is their partners who have only made integrations with major platforms like Chainlink, Avalanche, Pangolin and Coin98 Wallet.
DYP is currently trading at $ 0.64 with a market cap of around $ 8.1 million.