Obscure Crypto SaltSwap Finance Pumps 1,112% On Partnership News

May 2, 2021 4:01 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Obscure Crypto SaltSwap Finance Pumps 1,112% On Partnership News

SaltSwap Finance (CRYPTO: SALT) saw its price increase over ten-fold after the project's developers announced two partnerships.

What Happened: According to CoinMarketCap data, SaltSwap Finance's price increased by over 1,112% in the past 24 hours from a low of $0.2145 to a high of $2.6091, before settling at its current price of $2.27, as of publication time.

The sudden and intense price action followed today's announcement of two separate partnerships.

SaltSwap Finance announced one partnership with UBU Finance (CRYPTO: UBU) and another one with Parthenon BSC (CRYPTO: EPSILON).

According to an announcement, SALT holders will be able to lock (stake) their tokens to earn an annual percentage rate of 7,416,291% of UBU, or an annual percentage yield of 1,443,504% of EPSILON. There is no guarantee that the return rates will stay this high for any length of time.

DeFi Projects: All the projects involved fall into the decentralized finance (DeFi) category, which includes all the decentralized applications (DApps) that provide services not unlike those offered by traditional financial institutions, but in a decentralized — and often anonymous — fashion. DeFi DApps often allow users to lend money, earn a yield on their deposit, insure against risk or exchange between different assets.

SaltSwap allows its users to exchange between different tokens, earn by providing liquidity for trading or earn high interest on deposits. Similarly, Parthenon also allows its users to trade and earn interest on their deposits.

UBU Finance, lastly, allows for trading of numerous tokens, earning interest on deposits and investing in new projects.

Image by xresch from Pixabay.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.

Posted-In:

Cryptocurrency Markets

Related Articles

MicroStrategy Shares Mark Session Low, Quickly Rebound Following Report SEC Has Rejected Co.'s Bitcoin Accounting Strategy

-Bloomberg read more
Cryptographer IDs Critical Metamask Privacy Vulnerability

Cryptographer IDs Critical Metamask Privacy Vulnerability

Metamask is a crypto wallet and gateway for accessing decentralized apps (DApps) built on the Ethereum (CRYPTO: ETH) blockchain. A cryptographer addressed a security loophole that can put 21 million users at risk. read more
UFC Star Francis Ngannou Takes Half Of Salary In Bitcoin, Says It's 'The Future'

UFC Star Francis Ngannou Takes Half Of Salary In Bitcoin, Says It's 'The Future'

Francis Ngannou is a UFC heavyweight champion and came face-to-face with Ciryl Gane on Jan 20 in a pre-fight press conference. The champion said he won’t take all the purse money in fiat. read more
Cryptocurrency Near Decreases More Than 18% Within 24 hours

Cryptocurrency Near Decreases More Than 18% Within 24 hours

Near's (CRYPTO: NEAR) price has decreased 18.82% over the past 24 hours to $13.92, continuing its downward trend over the past week of -30.0%, moving from $20.04 to its current price. read more