This Altcoin Crushed Bitcoin, Ethereum and Others! Increased 512 Percent

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A decentralized finance (DeFi) crypto asset launched on Binance Smart Chain (BSC) continues to perform unbelievably despite the sideways movement of the cryptocurrency market.

This Altcoin Is Up 51% Despite The Market Drop

While the cryptocurrency market has been underperforming for a while, the leading cryptocurrency Bitcoin and altcoins continue to move sideways.

However, this altcoin has managed to perform impressively despite the declines in the market. After gaining up to 170% in just two days, Xido Finance had been trading sideways for months before launching an increase on March 3.

However, Xido Finance (XIDO) saw its price increase almost 5 times from $5.57 to over $34.09 in 48 hours. As of the time of writing, XIDO continues to trade at $17, down 12.45% in the last 24 hours, according to CoinMarketCap data.

What is Xido Finance?

Xido Finance (XIDO) is the world’s 158th largest cryptocurrency with a market cap of $425,241,589. Additionally, Xido Finance (XIDO) is an automated market maker (AMM) with a limited supply of 100,000,000 XIDO tokens that offers yield-farming incentives to liquidity providers.

The following statements are included in the technical review of the AMM project;

“XIDO Finance is a decentralized AMM with yield farming incentives, mint-free, and a unique token distribution design.

XIDO Finance is powered by the XIDO token, which adds a management layer and powers self-sustaining pools and farms without issuing a new token.”

The Xido Finance developers said the goal of the project is to “enable the creation of a completely transparent, community-owned and open-source oracle platform.”

XIDO also recently tweeted that its native token is available on the PancakeSwap (CAKE) exchange, in a post on its Twitter account.