ALPHA price has skyrocketed this January; in less than 30 days, it has advanced from $0.17 above $2.4. ALPHA could increase even more in the ongoing bull market if you decide to buy ALPHA, you should use a “stop-loss” order because the price could also collapse.
Fundamental analysis: Alpha Finance platform faces several challenges
Alpha Finance is a decentralized protocol that supports various products and has its native coin under the symbol ALPHA. ALPHA price has exploded since the beginning of January, and for now, there is no sign of the trend reversal.
My opinion is that this is a very risky cryptocurrency, and if you decide to trade ALPHA, you should always use a “stop-loss” order.
Users can buy ALPHA tokens from an exchange such as Uniswap and Binance, but they can deposit assets on Alpha Finance’s website and earn ALPHA tokens in return for staking. It is essential to say that ALPHA tokens only act as governance tokens for the Alpha Finance ecosystem.
This project’s main goal is to create an ecosystem of products with traditional finance principles while operating in a decentralized manner. Moving forward, Alpha Finance will be introducing more products, but for now, the list remains short.
This project’s most famous product is Alpha Homora that enables its users to participate as yield farmers, ETH lenders, or liquidators.
There’s still a lot of uncertainty around this project, and the Alpha Finance platform faces several challenges. This cross-chain DeFi platform has the limited availability of products outside the Ethereum blockchain, and it could face a lack of liquidity.
Technical analysis: As long the price is above $1.5, there is no risk of the bear market
This coin
