Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.
Hifi Finance (HIFI) and Scorpion Casino (SCORP) are two of the most trending cryptocurrencies of September. Hifi Finance, which was selling for $0.376 in August took a leap to $2.55 on 16 September 2023, to the pleasant shock of the market.
Scorpion Casino, on the other hand, is a presale token that is trending across crypto and gambling communities due to its massive growth potential.
Here is an analysis of both and which of these makes better sense from an investor’s perspective.
HiFi Finance is Losing Momentum
It is becoming clear that HiFi Finance is losing momentum. After a rapid surge, the token has slipped back to $0.8723. At this point, the ROI of the token stands at a mere 55.27% on the weekly chart.
But it doesn’t seem like the token is capable of going through any more price rises this month. The time’s up.
In essence, HIFI token makes little sense as a short-term investment this month.
At the heart of it, HiFi Finance is a decentralized finance (DeFi) protocol that allows people to lend and borrow crypto at a fixed interest rate. It offers decentralized interest rate markets that mature on specific dates.
Using an Automated Market Maker model, it provides stakers who lock their money in the native “liquidity pools” with attractive rewards.
But like all DeFi protocols, HiFi Finance is prone to the whims of the market. But a more serious concern is the liquidity challenge that often grips these platforms and triggers panic selling.
The reliability of returns from HiFi Finance is thus low to medium. It also impacts its long-term potential. Being a DeFi platform, it needs more time to prove its credibility.
SCORP Staking – An Analysis
Scorpion Casino also offers an attractive option for staking. By locking your SCORP tokens in the native staking contract, you can earn up to $10,000.
Well, there are many platforms that offer staking rewards. While they are a huge phenomenon during the launch, they soon lose momentum. The trajectory often resembles the price action of the token. As a token loses its value, there is no point in accruing the passive rewards.
To make things worse, many of these staking mechanisms are to blame for the poor performance of the native token’s price action.
Why is that?
Staking reward systems that solely rely on the tokens are flimsy. The design of these mechanisms is faulty as they mint more tokens without anything substantial underpinning the value of the token.
This is where utility comes into play.
Acknowledging this, Scorpion Casino has anchored its staking mechanism in the platform revenue. A portion of the profit generated on the platform is streamed to the staking rewards pool.
An equal share is set aside for a burning mechanism as well. Together, they help the token weather the broader market volatility and build its value over time.
But How Reliable is the Platform Revenue?
Scorpion Casino is a full-fledged gambling dashboard that offers an impressive array of opportunities, including an extensive selection of 30,000 monthly betting options, a rich assortment of 210 casino games, and 160 live games to cater to diverse players.
The project’s commitment to providing diverse sports betting contests, allowing players to leverage their expertise across more than 35 sports. On the online casino front, Scorpion Casino delivers a comprehensive suite of over 200 games sourced from renowned game providers like Evolution, NetEnt, Play N Go, Novomatic, EGT, and AMATIC.
Moreover, its recent collaboration with Tenset as the Bronze Sponsor of the Tenset Infinity Program further underscores its commitment to placing itself at the forefront of the online gambling sector.
To give you a better perspective, the market is predicted to grow to $145.6B in 2030.
Scorpion Casino Empowers Anyone to Invest in the Online Gambling Market
Scorpion Casino simplifies access to the online gambling and sports betting sector with the help of crypto tokenization. Anyone can participate in the project with an entry cost as low as $0.018 during the ongoing presale phase, which is already past the $1M milestone.
Once the token makes its way to well-known exchanges, the investment opportunity will become more costly. Still, it will remain open to all, allowing individuals to invest according to their budgets. It is an excellent gateway to the thriving market.
Make sure you enter early to secure the token at the best price.
Read the full article here