Skip to main content

Maple price prediction: what is MPL and is it a good investment?

 


Maple price surged Friday as demand for the decentralized finance (DeFi) ecosystem continued to grow. MPL surged to a high of $61.30, its highest level since April 17. It's up more than 23% since its lowest point this month, taking its total market cap to more than $296 million.


What is Maple and Why is it Rising?

Decentralized Finance (DeFi) is one of the largest sectors in the blockchain industry with assets in excess of $210 billion. This is a significant sum considering the industry didn't exist a few years ago.


Maple is a DeFi platform that offers similar services to other popular networks. It bills itself as the Crypto Capital Market as it provides undercollateralized lending to institutional borrowers. The network receives funds or liquidity from users who want to earn a return and then passes it on to institutions.


According to its website, the network has issued over $1.2 billion worth of coins in loans. Lenders have received over $24.4 million worth of interest on these loans. At the time of writing, it has provided around 82 loans.


Some of the loan pools in Maple Finance are provided by Celcius, BlockTower Capital, Alameda Research, and Orthogonal Trading, among others. Alameda is the company founded by Sam Bankman, the founder of FTX.


Maple price is increasing as the total value set in the protocol has ticked up. According to DeFi Llama, the network is now worth over $82.4 million (TVL) in total. This amount is significantly higher than in March this year.


Maple Price Prediction

Maple price has been in an uptrend for the past few days. It's up more than 22% from its lowest point this month. The coin has moved above the 25-day and 50-day moving averages while the MACD indicator crosses the neutral level. It has also scaled above the key support level at $51.32. This support had not fallen below several times this month.


Therefore, it seems like the bulls are now in control and the coin's price will continue higher as it targets the key resistance at USD 68.88. A drop below the USD 51 support will invalidate the bullish view. Here are more cryptocurrencies to invest in .

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more