Despite its early age, Calyx Token (CLX) has plenty of hype behind it and deservedly so.
The project is aiming to make waves in the DeFi industry as a liquidity protocol that enables the trading of cryptocurrency on a multi-chain level.
While the project is still in its infancy, the likes of Polkadot (DOT) and Shiba Inu (SHIB) have soared to the top of the crypto food chain in recent years.
Is a Calyx Token (CLX) boom an inevitability?
In the cryptocurrency industry, it’s difficult to say whether a project will undoubtedly be a success or a failure.
The volatility of the market makes it a tough task for even the most knowledgeable individuals to form an opinion on a project becoming one that will inevitably make or lose millions.
However, Calyx Token (CLX) has the potential to become a major player in the digital asset space.
Recently entering the first phase of its presale, Calyx has major plans for its future, especially in the decentralised finance (DeFi) space.
As a permissionless liquidity protocol, Calyx will cater to many of the crypto population that do not have access to the native token of a network or decentralised application (dApp), who have to resort to an exchange and purchase several tokens before they participate, in what is both an expensive and time-consuming process.
Calyx will do this through ‘CalyxSwap’, where users will be able to swap tokens in a simple transaction at the best prices amongst all the aggregated liquidity sources.
Polkadot (DOT) goes back and forth between red and green
Polkadot (DOT) has had a turbulent time in the crypto market.
Despite dipping 45.6% in the past year, DOT rose 5.8% in the past seven days, demonstrating the up and down levels Polkadot has been experiencing.
Hitting its all-time high of $54.98 in November 2021, DOT has dipped 64.9% to its current price of $19.28, at this time of writing.
Despite its consistent volatility, some crypto experts such as Coin Price Forecast predict that DOT will end 2022 with a price of $58.52, a value that would surpass Polkadot’s current all-time high.
Shiba Inu (SHIB) near the end of the week in the red
An 8.5% growth in the past 30 days seemed to set Shiba Inu (SHIB) on its way to modest growth after an exceptional 2021 where the meme coin experienced extraordinary growth and became one of the world’s most known cryptocurrencies alongside the likes of Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE).
However, a dip of 7.0% in the past seven days has threatened to derail the progress Shiba Inu (SHIB) has made in 2022.
According to some crypto experts, SHIB will hit $0.00005585 by the end of 2022, while it’s priced at $0.00002489, at this time of writing.