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Up 130% this month Ethereum based Akropolis ready to take more profits

Altcoins 2021/03/29 21:00 by Reynaldo Marquez

While the last few weeks have been sideways moving for major cryptocurrencies, Akropolis (AKRO) had a 22.5% rally. In one year, the Ethereum-based protocol’s native token has seen gains of 5,868%, and its latest updates point to more potential.

With $27.99 million in total value locked, investors can review up to 38.73% in annual staking rewards. This has caused the protocol to achieve percentage gains in less than a year. In addition, Akropolis has fundamentals that support its rally.

In November 2020, the team behind Akropolis decided to reduce its product offering to the yield generator and aggregator product suite. It is currently in beta for Akropolis version 1.1.5 to generate a new revenue stream for AKRO token holders.

The team’s priorities in the short term are the update of their landing page and the next iteration of the user interface. In addition, they are in the final stages of a new version of the LEDA swap to offer vested rewards swaps. In their latest progress update, the Akropolis team stated:

We will be integrating yearn affiliate tokens for revenue-sharing between our protocols. Yearn vaults can earn up to a 50% profit share from their contributed TVL.

Akropolis expands throughout the DeFi sector

The cooperation with Yearn Finance started in November last year and allowed to expand the strategy offering so that Akropolis users can maximize their profits. Through the integration, investors gain access to Pickle, CREAM, and can receive more profits by complementing the products of the 4 protocols.

 

Akropolis also has integrations with Curve, Aave, Compound, OZ, and its users have several options to obtain stablecoins or crypto. The protocol team announced:

We are still working on expanding vault deposits to multiple stablecoins and iterating on DCA functionality.

AKRO trades at $0.06 with a market capitalization of $187 million. Despite its cooperation and development, the protocol is not yet in the top 10 of the DeFi sector and aims for further growth. Silver Bullet trader expects the “real pump” to start when the cryptocurrency is above its resistance level in the AKRO/BTC pair.

At the time of publication, ETH is trading at $1,824 with gains of 8.1% in the last 24 hours. The cryptocurrency has experienced a rally following the announcement by payment processor Visa to begin settling transactions on Ethereum’s network.

ETH on a rally in the 24-hour chart. Source: ETHUSD Tradingview

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