The dust has yet to settle from the crypto crash today. Coins are still being dragged into the red, and related stocks are suffering as well. But some projects are managing to dig themselves out and end a rough day in the green. DePo (CCC:DEPO-USD) is one such crypto able to skirt the crash — and the DEPO crypto is even posting an impressive gain this afternoon.
DePo is not a large cryptocurrency by any means. With its market capitalization of just $51 million, it pales in comparison to Bitcoin (CCC:BTC-USD) and Ethereum (CCC:ETH-USD). This is in large part due to the fact that the project is just a handful of months old; the DEPO token was launched at the end of October. But the project is gaining ground quite quickly. Importantly, it is proving that interest in non-fungible tokens (NFTs) and DeFi isn’t going anywhere soon.
DEPO Crypto Sees Double-Digit Gains
According to the DePo website, the project attempts to bridge every cryptocurrency in the world to one location. It describes itself as a multi-market aggregator, allowing users to bridge assets from nearly anywhere in the world to the project. In essence, it removes the need to jump from exchange to exchange, and from wallet to wallet.
Since its launch in October, the network has moved quickly to build out its offerings. DePo is generating a lot of interest on Twitter as it shows off its intuitive interface for buying, selling and storing NFTs. Meanwhile, users can move their assets easily between DeFi protocols on the platform. These two tools are, according to developers, coming to the platform imminently.
DEPO’s growth reinforces the idea that investors are seeking out NFT exposure, even in the face of a bearish turn for the market. Currencies like Bitcoin and Ethereum are prompting investors to buy the dip. The DEPO crypto, though, is prompting investors to buy or risk missing out. Indeed, the token is gaining quite impressively today as bulls build hype around the incoming bridges. Trading volume is increasing 13% as a result over the last 24 hours and DEPO is posting a gain of 17%.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
