The cryptocurrency market has been experiencing some turbulence lately, with many investors looking for alternative options in the wake of Ethereum’s decline.
Despite the much-anticipated Shanghai upgrade scheduled for March, Ethereum’s value continues to plummet. This has left many investors searching for a more promising investment opportunity.
RenQ Finance (RENQ) has emerged as a strong contender, boasting an innovative approach to yield farming and liquidity provision, which has been gaining the trust and attention of the crypto community. With Ethereum’s downward trend, RenQ Finance is now being seen as a better-equipped alternative for investors seeking higher potential returns on their investments.
Ethereum is plummeting
As of writing, Ethereum, which has been the highest-ranked altcoin based on market cap, is down by over 9% in the past 24 hours even with the fact that its Upgrade is slated for March 2023. Rather than positively affecting the market price, ETH is falling. This signals a high fear and uncertainty from investors hence it has a bearish sentiment.
RenQ Finance is pumped to be a better option than Ethereum.
Recalling that when Ethereum switched from a Proof of Work method to a Proof of Stake system last year, its price didn’t increase but rather decreased.
The validators will be able to withdraw the 16 million ETH they “staked” in the network to enable network security with the Shanghai update. The Surge update will be made possible by the Shanghai improvement. Before the Surge upgrade, Shanghai will make sure that the network experiences fewer snags or delays.
The upcoming Surge upgrade is a highly anticipated development that is set to significantly increase the blockchain’s maximum transactions per second (TPS).
Despite Ethereum’s recent lack of bullish momentum, with ETH prices falling, and market sentiment remaining unconvincing, experts are not hopeful that the forthcoming upgrade will yield greater profits. Furthermore, ETH suffered a significant decline during the bear market of 2022, losing over 60% of its peak value, making it less attractive for investors seeking high returns.
As a result, investors are increasingly turning to RenQ Finance as a superior alternative to Ethereum, with better performance and greater potential for gains. This shift in sentiment is reflected in the growing acceptance of RenQ Finance in the market.
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RenQ Finance is the new Alternative
RenQ Finance is a decentralized finance platform that offers users the ability to create new asset classes and financial products derived from blockchain-based assets. RenQ Finance operates using autonomous smart contracts, providing transparency, fairness, and security to its users. It enables individuals to maintain complete control over their assets and avoid liquidity crunches.
RenQ Finance distinguishes itself from other DeFi platforms by its hybrid infrastructure model, a combination of on-chain and off-chain that offers institutional, liquid, and slippage-free trading to the DeFi community. The off-chain order book provides a speed advantage compared to that of conventional centralized perpetual exchanges, and the aggregation protocol utilized by RenQ obtains liquidity from a variety of exchanges and has the capacity to distribute a single trade transaction across multiple DEXs to obtain the most competitive prices.
RenQ Finance presents various advantages for traders and investors looking for better performance and security. The platform offers significant position volume with a narrow spread, which minimizes the difference in price between buy and sell orders compared to the Automated Market Maker (AMM) model. Additionally, RenQ Finance provides high leverage of up to 100x, allowing traders to increase their profits with a smaller initial investment.
Despite being only two months into its presale, RenQ Finance has already seen a significant increase in the number of investors purchasing RENQ tokens. The second presale phase is almost completed, and the token sales have raised an impressive $2 million. As a result, more and more Ethereum investors are choosing to invest in RENQ tokens over ETH.
The platform’s governance portal and cross-chain compatibility provide users with flexibility and control over the evolution of the platform. Additionally, RenQ Finance offers high leverage, narrow spreads, and 2FA security options for users to keep their keys and funds secure.
With its growing popularity and advanced features, RenQ Finance is expected to dominate the market in the coming seasons, outpacing Ethereum.
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Visit the links below for more information about RenQ Finance (RENQ):
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Presale: https://renq.io
Whitepaper: https://renq.io/whitepaper.pdf
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