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Popular crypto analyst Tyler Swope shares with his followers an altcoin project that he has accumulated, which has a bullish trend and padoller factors. we too Cryptocoin. com, we have compiled the analyst’s posts for you.

Centrifuge (CFG), an altcoin project aimed at asset financing

Centrifuge (CFG) is a decentralized asset finance protocol. It combines decentralized finance (DeFi) with real-world assets (RWA) while trying to reduce the cost of capital for small and medium-sized businesses (SMEs) and provide investors with a stable source of income. According to crypto analyst Tyler Swope, the main goal of the project is to generate profits that are not tied to volatile crypto assets. The developers continue their task of transferring real monetary value from fiat to cryptocurrencies.

Centrifuge Blockchain is built on Polkadot (DOT) for speed and low fees, while financial DApp Tinlake is built to access Ethereum (ETH) liquidity. The crypto analyst gives the following information about the altcoin project:

Centrifuge (CFG) provides liquidity to everyone and investors receive income and rewards in the form of CFG tokens. Centrifuge connects assets such as property, property and royalty with decentralized finance. In addition, borrowers benefit from the ability to finance their real estate without banks or other intermediaries.

Interestingly, as of June 2021 Centrifuge has the highest total value (TVL) of kilidollars in the Polkadot ecosystem. Also, the altcoin project claims to be one of the first to use a parachain on Polkadot.

CFG is up 85% in the last 7 days, hitting an ATH of $1.84 yesterday

Centrifuge Blockchain is powered by Centrifuge token (CFG). The CFG provides its holders with governance and encourages Validators to run it. As crypto analyst Tyler Swope explains, CFG holders can either stake their CFG or stake their CFG to another Validator to nominate nodes as Validator candidates.

At the time of writing, CFG was trading at $1.69 with a market cap of approximately $166 million. CFG has grown 85% over the past 7 days and hit an ATH of $1.84 yesterday.

CFG weekly chart / Source: CoinMarketCap

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Michael Lewis

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