Small Cap DeFi Project Soars 424% In Ine Day!
Parachute began trending today as it soared from $0.0025 to over $0.01 in a single day. This is a new DeFi project that still has a tiny market cap of $7 million, even after soaring 5200% in the last month. If you have been reading my articles lately, you would have noticed that I am aggressively seeking out very low cap quality coins that have great upside potential. The obvious challenge here is the "quality" aspect, as loads of projects fall into the micro cap category.
Partnerships and accomplishments play a large role in the decision process, along with an active and engaging team. It is however very difficult to correctly asses these dynamics so early on in a project but you have to work with what is available if you want to catch a project early.
Parachute enable Crypto funds to be sent via the Telegram app and are enabling more mainstream adoption as they introduce DeFi to already widely used apps. Use the ParJar app that lives inside chat apps like Telegram and Discord to integrate Crypto transactions. If a project has a use case, users, and community it is kind of impossible to drop from a tiny market cap like $7. Parachute already has 40K active users and has processed almost 2 million transactions.
The Value Of PAR Protected
Funds that are collected by fees will have a portion swapped for PAR that will then be burned. This will continue on an ongoing basis and will in essence be a catalyst for further price appreciation for the PAR token.
PAR tokens can also be staked to reduce fees associated with dapp utility. Stakers also gain access to partner programs and distribution events. Staking is always a bullish factor for the price of a token! The more tokens that are locked away works to create greater demand in the market and ultimately elevate the price higher.
I began accumulating PAR at approximately $0.01 and am looking to increase my holdings when the market presents further bargains!
Please remember that this is not financial advice. These are my own opinions and strategies. Please do your own research.