Ripple's trading volume is on the decline as market attention shifts towards Mutuum Finance, a new DeFi project.
Current Status of XRP
XRP is currently trading around $3.02, fluctuating between $2.91 and $3.03. Recent statistics report a significant 66% drop in 24-hour trading volume, raising concerns about decreasing activity from both retail and institutional investors. Furthermore, daily DEX volume has shrunk to a mere $2.3 million, the lowest since April. The total value locked (TVL) on the XRP Ledger has decreased from $120 million to $98 million.
Mutuum Finance Presale
Mutuum Finance is currently in the sixth phase of its presale, with tokens priced at $0.035. The project has raised $15.6 million so far, and the number of investors has surpassed 16,200. The presale is showing strong demand and highlights new opportunities for investors in the DeFi market.
Innovations by Mutuum Finance
Mutuum Finance employs a dual-tier lending system that combines Peer-to-Contract (P2C) and Peer-to-Peer (P2P) lending approaches and utilizes Chainlink oracles for precise token price information. A bug bounty program with a reward pool of $50,000 has also been launched and is open to participants. These measures aim to ensure the platform's reliability and efficiency.
With current market trends, Mutuum Finance is gaining traction while XRP sees reduced interest, indicating a possible shift in trading preferences among investors.
