Goldfinch (GFI) crypto is a unique crypto lending platform that aims to resolve the issues related DeFi products. The DeFi borrowers today require over-collateralisation with crypto, but by removing the collateral, the GFI token can not only reduce the barriers to entry of crypto lending but also expand borrower capacity.
Thus, as a decentralised credit protocol, it offers the users the ability to avail crypto loans without the need for collateral. Powered by the Ethereum blockchain network, the GFI token uses the trust through consensus, which allows the borrowers to show creditworthiness on the basis of their crypto assets.
This way, Goldfinch crypto aims to open up the concept of crypto lending in various emerging markets, thereby encouraging financial inclusion. Users get a chance to stake crypto assets without having the need to worry that their value may be more than the value of the cryptos.
The GFI token on Friday was seeing a healthy rally of over 10% with a volume gain of over 190%. The token, in fact, has been on a bull run as it has registered gains of over 87% over the past week.
Why is Goldfinch crypto rallying?
The Goldfinch crypto is rallying on the back of its announcement of its listing on Anchorage Digital – the premier digital asset platform. This is expected to expand GFI’s reach and can now offer its services to larger institutions as well with this listing.
Besides, the Goldfinch crypto has just reached a landmark of achieving US$7.3M+ in repayments in the last 30 days. This highlights Goldfinch’s motto of being a reputable, real-world operator with track records of successful lending activity.
How is Goldfinch is faring?
The 782nd ranked GFI token was trading at US$3.77 with a 24-hour trading volume of US$23,788,709 in 24 hours, as per CoinMarketCap. Although this was a significant drop after achieving its all-time high of US$32.94 on 11 January, the recent rally would please the market participants.
At the time of writing, the Goldfinch token was up by 11.70% with a live market cap of US$19,125,128 and 5,072,242 GFI coins in circulation.
The Goldfinch’s volume has been impressive as the recent scheme of things seems to have impacted market participants’ sentiments.
Backed by some of the biggest names in the industry such as venture capitalist Andreessen Horowitz, Messari, Coinbase, Ethereum Foundation, etc., the GFI protocol would be hoping that the current rally would stay for some more time. But market participants need to do their own research before taking a plunge into the crypto market especially, in the current Russia-Ukraine crisis.