The recent market downturn exposed the vulnerability of some cryptocurrencies like Solana which suffered huge losses. Amidst the market volatility, Octoblock seemed unaffected by the downward trends. Let’s explore why Octoblock emerged unscathed.
Why was Solana Price Hard Hit?
The optimism that saw Solana price surge by 61% in March came tumbling down after the broader crypto market witnessed a downturn attributable to the geopolitical space. Of course, the Solana network congestion played a role. Solana’s SOL token saw a big drop of 21% in the past week to $131, its lowest in a period spanning six weeks. The result was. $113 million in liquidations and fears were rife whether the $130 support level would hold up. Solana news has it that Coinbase recently integrated its wallet with Solana’s decentralized exchange (DEX) to attract more users to Solana’s ecosystem. The liquidated funds trickled to the Octoblock ICO as Solana investors were noted.
Octoblock (OCTO)
Octoblock is a new DeFi pioneer, packaging real utility solutions to DeFi. Its initiatives cut across the core principles of a successful decentralized finance protocol. It packages a crowdfunding technology cFyF that fosters communal pools for collective profit making and ease of access to more DeFi products.
Octoblock will provide a multi-chaIn platform that will see interoperability across blockchain networks and support hundreds of cryptocurrencies. It will ride in its robust Coral Cove DEX that will facilitate safe, easy, and secure transactions, transfers, and conversions.
The Tentacle Trust is an Octoblock strategy of promoting charitable organizations especially those pursuing Oceanic and marine life conservancy. The investors participate in identifying and voting for the organizations to be funded. The saltwater sweepstake is allocated funds to hold monthly draws and reward winners as per the snapshot timing not disclosed until after the draw to prevent dishonest individuals. The rewards would reflect OCTO’s price movement during the period.
Why Octoblock Pulled Through Market Downturn With Ease?
Octoblock has a hot ICO in phase four that has attracted inflows from across chains due to rich presale rewards for anyone holding OCTO tokens. Priced at $0.038, the ICO has a 12% bonus and awards every ICO holder a chance to the ultimate Tesla giveaway. Each token purchase earns an entry. The draw will be held before the project launch, with the winner picked randomly to spread chances and give as many people as possible a chance to win the new Tesla Model.
Octoblock’s NautilusTrove generates and distributes profits made from ICO staking and other investments. The Trove allocates funds to be utilized in various ways including, rewards airdrops, charity, and management performance fees, while the remainder is invested through the principles of Beefy Finance. The USDC airdrop rewards are airdropped to all ICO participants weekly. The event occurs every Monday and the current APY rate of 165% is displayed on the OCTO website.
More information here:
Buy OCTO: https://reef.octoblock.io/register
Website: https://octoblock.io/
