Circle jumps 200% after NYSE debut – why the focus is now on MUTM

Circle, the company behind the USDC stablecoin, saw a massive uptake of its IPO recently. On the first day of listing, the stock jumped 20%, and a few days later, the stock is now up over 271.77% since the listing price. The performance was better than expected, and this is expected to catch the attention of Wall Street. Analysts believe this could prompt other crypto companies to go public as well. During the IPO, Circle raised $1.1 billion. It has a valuation of $27.9 billion, with its CEO now a billionaire thanks to his massive holdings in the company. The recent debut of Circle marks a trend where crypto companies are listing on public exchanges and doing well. It signals a growing institutional appetite for crypto, which could raise prices for crypto coins. Amid growing appetite for crypto, one of the best ways to position yourself is by picking a low-value coin that has high growth potential, such as Mutuum Finance (MUTM) . You can then use it to ride the wave and make massive gains in the process. A deep dive into Mutuum Finance (MUTM) Mutuum Finance (MUTM) is an exciting project in the crypto space that is expected to deliver massive gains for its community. According to analysts, the MUTM token could grow by as much as 2,000% once it goes live. The project is currently in the presale phase, where it has raised over $10.4 million so far. In the current phase 5 of the presale, tokens are going for $0.03 each. The token price is expected to rise by 16.67% in the upcoming phase 6 to $0.035. So far, over 11,900 unique buyers have participated in the presale. The pace has picked up compared to phase 1, when tokens were going for $0.01. One of the main catalysts for this fast pace is the recent CertiK audit results. Mutuum Finance CertiK audit Mutuum Finance (MUTM) recently completed a successful CertiK audit. The project was awarded a Token Scan Score of 80, which has helped to provide a massive boost in trust for the project. Even those who were previously on the sidelines have now joined in, which has pushed the presale to the current speed. So far, over 30% of the tokens set aside for the phase have been sold, barely two weeks after they were launched. The results of the audit also made it easy for Mutuum Finance (MUTM) to apply for a listing on CoinMarketCap, which it successfully got. The platform has over 350 million monthly site visitors, which will play an important role in expanding the reach of Mutuum Finance. By working on improving the metrics of MUTM tokens, this will appear at the top of the list based on these metrics. As a result of this, this will lead to more traffic for the protocol, which will grow the revenue. How Mutuum Finance protects itself On Mutuum Finance (MUTM), users can participate as lenders, borrowers, or liquidators. One of the measures in place to protect lenders’ assets is called over-collateralization. It simply means that borrowers must provide an excess of collateral when taking out their loans. This excess is based on the fact that collateral can fluctuate in value. As such, there needs to be enough clearance to ensure there is sufficient incentive to stabilize the position when the prices change. If the value of collateral dips, such a position becomes eligible for liquidation. Liquidators are given a liquidation bonus, which allows them to buy a debt for a profit. It ensures that there is always a buffer between assets and liabilities on the platform. Borrow and deposit caps On Mutuum Finance, a deposit cap can be used to limit how much of a given asset can be deposited. This is often done to ensure that the protocol does not cause excessive exposure to any given assets. The process also helps protect the protocol from the unlimited asset minting exploit. Setting the cap usually entails checking the on-chain volume, price volatility, and the historical price data. The protocol can also impose upper limits on how much of an asset can be borrowed. This upper cap ensures that the protocol is protected from tokens prone to price manipulation or a lack of liquidity. By limiting the borrowing volume, it ensures that there is no chance of insolvency or sharp price changes. Restricted asset mode On Mutuum Finance, some assets may fall into the restricted mode. In this mode, a single collateral can only borrow an asset of the same type with strict limitations. This often happens when the Oracle data from a project is found to be wanting. In such an instance, it reduces the threat of wide-scale insolvency caused by manipulating price movements. Mutuum Finance (MUTM) is a well-structured project that aims to dominate the DeFi space. With the Circle debut signifying the widespread acceptance of crypto, now may be the perfect opportunity to join the MUTM token presale for substantial returns. For more information about Mutuum Finance (MUTM), visit the links below: Website: https://www.mutuum.com/ Linktree: https://linktr.ee/mutuumfinance The post Circle jumps 200% after NYSE debut – why the focus is now on MUTM appeared first on Invezz

Source: Invezz