3 explanations as to why QuickSwap (QUICK) surged by whooping 50%

One of the applicable aspects of the cryptocurrency’s ecosystem is Decentralized Finance (DeFi) and the control is given to its users over their assets. But there are still doubts from the public generally when it comes to interacting with most products from Defi. This is a result of the possibility of losing their funds and a steep learning curve. There must be a way out in bridging this gap. visit at: bitcoinsup.pl

There is a decentralized exchange (DEX) that is trying to close the field between Centralized Finance (CeFi) and Defi known as QuickSwap. It is regarded as an Automatic Market Maker (AMM) and one of the best exchanges operating on the Polygon network.

QuickSwap is a duplicate of UniSwap which provides a similar liquidity pool model. QuickSwap became very popular due to the low fees and speed provided by the Polygon network. ERC-20 token can be easily swapped on it as it is compatible with the Ethereum blockchain.

Data from Trading view and Cointelegraph Market Pro reveals that there was a rapid spike of about 50% in the value of QUICK’s price. There was a surge of about 168% of its daily trading volume, thereby increasing its price by $166.40 on the 31st of January to $250 on the 1st of February.

Three reasons contributed to the rapid bounce of QUICK’s price. They include The declaration of being partners with Celcius, the inclusion of a high yield liquidity pool, and finally, initiating stable-stable pools that decrease the risk of impermanent losses and that offer very high yield. Anyone who offers liquidity to a liquidity pool is at possible risk of impermanent loss.

QuickSwap partners with Celcius

Celcius is a marketplace platform based on blockchain where curated financial services that the traditional financial institutions do not make available are provided to members. They specialize in Fintech, fields of consumer lending, and financial services.

On the 12th of January QuickSwap posted on their official Twitter page with a video showing their collaboration with Celcius on the Polygon Network. The tweet says “Defi is about to get a lot more interesting” it concluded with “Now THAT is progress”. Lots of their fans showed their excitement by commenting under the post and retweeting it

QuickSwap partnership with Celcius, is considered to be one of the most significant developments to be announced. Celcius is the Defi arm of the financial services platform and Celsius banking focused on merging DeFi and CeFi.

Celcius’s partnership with QuickSwap made it possible for wrapped versions of well-known tokens to be created. Some of these tokens include Dogecoin (Doge) and Cardano (Ada)which currently don’t have a major appearance on Polygon. They also don’t have liquidity pools that are well funded so that bots, users, institutions, and arbitrageurs can easily have access to these tokens.

This has provided additional ways for ADA and DOGE holders to earn a yield with their assets in DeFi instead of staking or holding it.

New breeds of investors can be attracted by new liquidity pool

Another factor that has been of help to this boosting momentum and price of QUICK is the launch of “syrup” pools and various new liquidity. Could this be a bullish sign? A few projects integrated bridges and were launched in January to the polygon network.

There has been supporting for Defi protocols such as the layer-1 blockchain solution orbs or Atlantis Loans. But aside from that, there has been adding support for QuickSwap Non-Fungible Token (NFT) projects, which once again have been gaining impulse regardless of the weaknesses in the crypto market.

Some NFTs projects are newly supported on QuickSwap. They include: Dogra, UniArts network, Blockchain Monster Hunt, and OneCare.

Stablecoin holder’s new staking option

Enticing yield for liquidity providers for stablecoin-stablecoin pairs is the third factor helping to attract liquidity and users to the QuickSwap DEX.

An opportunity is provided by this pool to give the users the chance to earn a satisfactory yield and at the same time decrease the impermanent loss’ risk connected to other liquidity pools. With this, more depositors operating on the Celsius network would be attracted to more stablecoin yields. This will lead to an increase in the overall liquidity that has been locked on the QuickSwap protocol.


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