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After the recent Bitcoin halving event, investors have started paying more attention to other projects. Ethereum Classic and Dai holders also seek momentum and have turned to the Fezoo exchange presale. Investors exploring alternative cryptocurrencies may get opportunities to diversify their portfolios and increase their ROI.
Ethereum Classic is known for many things. To some, it is one of the most powerful smart contract platforms. To others, it is the only platform that has refused to adulterate itself with new technologies. It is simply proof of Ethereum's long-term vision to another group. However, as a platform built on a proof-of-work consensus mechanism, it has retained the interest of investors for a long time. Although recent losses have made investors less confident, some have held onto the thread of bullishness it showed prior.
One may expect Ethereum Classic to do the same as Bitcoin gains bullish momentum. However, the resistance levels ahead may pose a threat. At $22.9, the 78.6% Fibonacci retracement level stood as a staunch support zone for the crypto asset. This defense happened on two separate occasions, allowing it to bounce back. Consequently, since the start of the week, the coin has solidified around the $28 range.
DeFi protocols face several challenges when managing stablecoins, particularly ensuring the peg and overall integrity of the stablecoin itself. One prime example is Dai, which has been a source of concern for some stakeholders. Lately, AaveDAO has been discussing the collateral limit of the stablecoin. Several proposals have been made to mitigate the associated risks.
However, more controversy broke out after MakerDAO minted and deposited 600 million Dai into a vault with the Morpho protocol. Other factors affecting Dai's stability are its potential under-collateralization and delta-neutral backing. This has raised several questions in investors' minds. Some wonder if holding Dai is less risky than holding stablecoins like Tether and USDC.
Fezoo, a decentralized exchange about to launch, is drawing investors' interest. The exchange, which differs from traditional exchanges, will offer users more control over their funds. It will allow traders globally to connect and conduct transactions at lower fees. The exchange will also offer a swap service where users can exchange cryptocurrencies at no commission fee.
Fezoo Exchange Presale is in stage one and is currently selling for $0.013. Investors are buying into it for several reasons. One of them is that it has passed its audit and may become a blue-chip crypto. Users gain a voice in the platform's development through governance rights. Token holders can vote on proposals that shape the platform's future. Second, in some cases, holders may even be entitled to a share of the platform's revenue. This revenue sharing incentivizes investment and aligns user interests with the platform's success.
To learn more about Fezoo Exchange, visit here.
