This Low-Cap DEX Altcoin Balloons 47% In The Face Of Crypto Market Stagnation

Christian Encila

Last Updated: June 11, 2024 2:19 pm

3 mins read

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And everybody was saying keep an eye on this specific Altcoin and yes — Sifchain – and they were right.

Sifchain (EROWAN), a low-cap DeFi altcoin, skyrockets by 47% in the wake of the staleness in the general crypto markets.

EROWAN has bounced from a low $0.114 on April 23 and is currently at $0.168.

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What is Sifchain (EROWAN)?

At the 271st level of all cryptocurrencies, SifChain has been on its seven-day high streak at 47%. SifChain is now at a price point that is above resistance; it may be nearing its volatility period once the rally is over.

SifChain has been trading on low volumes over the course of seven days but it now has an extremely bullish sentiment score and is continuously rising.

Many traders are anticipating the market behavior of Sifchain EROWAN as it has become a high-performing Altcoin despite the immobility of Bitcoin, Ethereum, and all other stablecoins.

Altcoin Saves Investors From Egregious Fees

Sifchain is the first-of-its-kind omni-chain decentralized exchange (DEX) geared towards digital assets and altcoins that enables liquidity, freeing investors from ridiculous trading fees and immature trades.

Sifchain has set eyes on roughly 20 to 25 blockchains to facilitate cross-chain integrations.

Crypto total market cap at $1.84 trillion on the weekend chart | Source: TradingView.com

The only way for DAOs to be self-subsistent is to get their hands on enormous funding. Enabling cross-chain liquidity is important for continuity in the blockhain space.

Sifchain is from the Cosmos Software Development Kit (SDK) and runs along others like Akash, Kava, and Terra in the Cosmos Network Blockchain network.

EROWAN – 100x More Powerful Than ETH-Based DEXs

With that being said, EROWAN is 100 times more powerful and robust compared to Ethereum-based DEXs when considering transaction speed and trading fees.

As a DEX, Sifchain has the best of worlds in terms of order books and liquidity pools enabling solid order execution.

Users are bound to leave a protocol once the APYs plunge which makes it very difficult to maintain its liquidity. Majority of protocols incentivize liquidity by way of annual percentage yields of APYs.

Now, the problem with keeping the APYs relatively high is that it results in casting aside the native token price. PMPT is the solution to this dilemma.

PMTP’s goal is to pump up the ROWAN value so that the community would be encouraged to HODL which will beef up ROWAN liquidity for the long term.

To do this, the ROWAN exchange rate is adjusted by small increments on the Sifchain.

PMTP applies every time you swap. As the market value of ROWAN shoots up, the swaps also increase in value over time.

Featured image from Medium, chart from TradingView.com

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.