The crypto-market is currently in a bullish wave, with institutional adoption and retail investment driving the growth. There has also been increased attention towards Decentralized Finance with several DeFi tokens in profit.
One of the DeFi tokens that have witnessed tremendous growth is CLVA, the native token of yield farming platform Clever DeFi. CLVA, which was recently listed on Uniswap, has experienced a major upward price movement in recent days.
CLVA price surge due to increasing adoption by DeFi users
The increase in price is due to the Decentralized Finance project’s potential that guarantees compound interest for investors. The DeFi sector is filled with crypto-enthusiasts looking for protocols that offer yield farming opportunities with impressive rewards.
Clever DeFi has been able to stand out with its promises of regular interest payments for holding CLVA tokens. The DeFi protocol uses a decentralized distribution mechanism embedded in its smart contract to issue rewards to holders.
This can be likened to a form of airdrop used by traditional crypto-projects. The difference is that it occurs every 14 days for 888 cycles. This unique mechanism means that CLVA token holders get tremendous interest in holding tokens.
For example, token holders that hold CLVA for a year will earn a 307% return on their investment. This is better than other rewards offered by yield farming protocols in the Decentralized Finance sector.
So far, the lure of consistent interest payment has driven the price of CLVA up, with several crypto-analysts highlighting the potentials of the project. Also, the presence of self-made millionaire Bryan Legend as the CEO of Clever DeFi has given further credence to the project.
Legend is held in high esteem, and his brainchild project has surpassed all expectations since its launch in late 2020. Clever has already completed a 30-day minting process that heralded the minting of the CLVA tokens.
This was followed by the listing of the token on decentralized exchange Uniswap. Uniswap has a hub of traders and liquidity providers that are always on the lookout for the next best project.
Clever DeFi has emerged as an ideal project with thousands of traders thronging to provide liquidity for the CLVA/ETH trading pair listed on Uniswap. It is no surprise that this rush has impacted the price of CLVA in recent weeks.
CLVA Yet to Reach its Peak
Despite the recent bullish sentiments on Clever DeFi, it is yet to hit its price peak. This is because it is a relatively new project, and as more investors purchase the token CLVA, its price will naturally increase.
Clever’s team has already begun working on listing on other exchanges as it will increase the reach of the CLVA token. There are already agreements to list CLVA on three exchanges, including P2PB2B, CoinsBit, and Hotbit.
These exchanges have a total user base of 1 million and will expose the token to new traders and investors looking to benefit from holding CLVA tokens. It will also increase the liquidity of CLVA, which could spur more growth.
The promise of compound interests coupled with the ability to withdraw your tokens at any time makes CLVA a must-have in every portfolio. At the moment, CLVA is still at the beginning of its bull run, and this represents the perfect time to accumulate the token.
Disclaimer: This article is a paid post and must not be considered as news/advice