ALPHA reaches $1 as Homora v2 launch approaches
- ALPHA surpasses the $1 threshold as it moves closer to the CoinMarketCap top 100.
- DeFi has seen a 50-fold increase since its ICO.
- This increase comes as Alpha Finance Labs prepares to update its flagship product Homora.
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This increase comes as Alpha Finance Labs prepares to update Crypto Bull its flagship product Homora.
The $1 Club
The token of the decentralized finance platform (DeFi) Alpha Finance Lab, ALPHA, broke the $1.00 mark for the second time just a few hours ago.
The token has gained more than 300% since the beginning of the year as the team announced its intention to upgrade its flagship product, Alpha Homora.
ALPHA received a surprising 250% increase on January 7th, when DeFi’s Person of the Year Andre Cronje tweeted about his „pleasure“ in working with the team.
Since then, the token has continued to grow in value. On January 23rd, he broke his old record from January 7th.
The rise above $1 places the token close to the top 100 cryptos per market capitalization according to the cryptomarketing aggregator CoinMarketCap.
It has been a pleasure working closely with the Alpha team, excited to see @iearnfinance ecosystem be collaborating with @AlphaFinanceLab project and #AlphaHomoraV2 product. Seeing Alpha, Cream, and Sushi integrate so closely allows yearn vaults to expand and scale much more! https://t.co/e58hFvnNPa
– Andre Cronje (@AndreCronjeTech) January 7, 2021
It has been a pleasure to work closely with the Alpha team, I am excited to see the @iearnfinance ecosystem collaborating with the @AlphaFinanceLab project and the #AlphaHomoraV2 product. Seeing Alpha, Cream and Sushi integrate so closely allows the safes of the year to expand and grow even further!
Alpha Finance Lab
Alpha starts a new year with #AlphaHomoraV2 which will be launched in January!
@CreamdotFinance, @SushiSwap, @CurveFinance, and @BalancerLabs officially join #AlphaHomoraV2 as partners to bring growth to the entire #DeFi.
ALPHA, the outsider of DeFi?
Launched in September 2020, Alpha Finance Lab is a combination of several decentralised finance products. These products range from loans to automated market makers to liquidity provision.
According to its white paper, its main objective is to „maximise returns while minimising risk“ for crypto enthusiasts operating in the DeFi space.
The platform is part of Binance’s Smart Chain (BSC), with the token also serving as a governance token for liquidity providers.
The sale of the ALPHA token, which ended on 30 October last year, set the price at $0.02, allowing the first investors to multiply their entry into the $1 club by 50.
The platform currently has just under $500 million in total locked-in value, a measure of the value of the tokens put into play in a DeFi platform.