Ethereum DeFi Altcoin Explodes 81% In Just One Week Among New Crypto Platform Entries
An Ethereum (ETH)-based decentralized finance (DeFi) altcoin has rallied more than 82% this week as most crypto projects are tracked sideways.
InSure DeFi (SURE) is an insurance ecosystem for the blockchain realm that helps protect users of DeFi, non-fungible tokens (NFT), and metaverse gaming.
The project’s native token, SURE, is worth $0.00798 at the time of writing. The 182nd ranked crypto asset by market capitalization is up 82.4% in the past week, 203.5% in the past 30 days and more than 320% since the start of 2023.
Crypto exchange Hotbit with headquarters in Hong Kong listed crypto assets on Monday. Vulkania, a crypto dashboard and data aggregation platform, rolled out a dashboard for inSure earlier this month. And O3 Labs, a decentralized exchange (DEX), listed SURE on March 4th.
InSure aims to offer portfolio protection to DeFi traders against fraudsters and unexpected losses.
Explains the project’s whitepaper,
“The project aims to create an ecosystem to spread the risk, where the premiums are determined by a dynamic pricing model. Capital required to support the risk at any given time will be based on the market pricing of the SURE tokens and community demand for insurance of the crypto portfolios.
A decentralized support system will be established to meticulously process all the insurance claims and implement the layers of inSureDAO voters to ensure that any fraudulent claims are flagged and only valid claims are fulfilled.”
Despite inSure’s massive gains this year, it is still 93% down from its all-time high of $0.113970, which it reached in early 2021.
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