Bitcoin recorded a gain of about 4.65% in the last 24 hours and 12% in the last 7 days, and as it is known, Bitcoin is leading the cryptocurrency market.

But some decentralized finance coins have decided to tweet separately from Bitcoin sometimes to achieve multiple percentages of Bitcoin.

Many see the decentralized finance market as a bubble and interest in it will disappear over time, but the performance of some decentralized finance currencies indicates that the decentralized finance currencies are still strong, which is revealed by the rise in their prices from time to time. Last week, the DOT digital currency rose by 18.20%.

In addition to what we will review in this article of the decentralized finance currency BOND, which is flying high by more than 500%.

Read:Founder of FTX: Solana is determined to become the largest decentralized finance platform DEFI

The digital currency BOND and the reasons for its rocket launch:

The BOND digital currency belongs to a project Barnbridge Aiming to reduce token risk, it is designed to work as a cross-platform protocol that allows users to build products derived from any fluctuations in the market to hedge against various risks.

In a series of tweets, Delphi Digital analyst Ashwath Balakrishnan explained why the BarndBridge project is so fussy, telling that the new project is facilitating the management of financial instruments that can be allocated to groups with “various risks and rewards.”

Users choose how much risk and reward they are willing to take.

Analyst Balakrishnan adds:

This creates a structure where risk-averse investors can put their capital into a large bracket to participate in the uptrend of cryptocurrencies without deviating from the risk profile or the desired maximum pullback.

About the BarndBridge Project:

In early September, BarndBridge received $1 million in an initial funding round.

The tour was led by major players in the cryptocurrency market such as 4RC, Ken Warwick, founder of Synthetix protocol, Stany Kulichov, founder and CEO of Aave protocol…

Read:Ripple’s XRP price jumps 15% for these reasons!

BarndBridge has recorded $300 million in Total Locked Value (TVL).

In addition, last Sunday, October 25, the “BarndBridge” project launched the digital currency “BOND” for governance.

The data from “CoinGecko” Since the launch of the “BOND” coin until now, the new digital currency has registered 504.4% after rising from its initial price of $30 to an all-time high of $182.

After dropping in the last 24 hours, the price of the cryptocurrency “BOND” is now $152.

The team behind the protocol decided to make a fair distribution of digital currency, in conjunction with the services of the protocol, whereby “BOND” coins are distributed to all “yield farming investors” who provide liquidity in the smart contract.

The idea is simple to put a cryptocurrency into a pool for a set amount of time, after which the stacked asset is returned, along with the additional asset rewarded for “proofing” that you have capital.

CoinGecko co-founder Bobby Ong believes that the price of the cryptocurrency “BOND” will drop over the next week.

Read:The developers of the “ICON” project announce the creation of an integration protocol with the “Polkadot” system

Ong believes that the BarnBridge protocol will bring benefits to users and said he is interested in their fixed rate solution.

However, the valuation of the BOND coin could be overstated, according to Ong. Although he praised the project’s distribution system, he also said:

Allowing investors only to collect their returns at the end of each week (Monday, 8 am +8 GMT) resulted in very low trading in the market during the first week and the lack of effective price discovery resulting in very low selling pressure causing the price to go up.

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