Alpaca Finance (ALPACA) is one of the top gainers on Binance during the daily timeframe. The cryptocurrency has surged upwards by more than 20%. The cryptocurrency has been showing strong bullish momentum during the weekly timeframe. However, the uptrend appears to be nearing a downside breakout which will invalidate further bullish momentum for the token. At the time of writing, the token stands at a price level of $0.48. The daily trading volume has surged upwards by a staggering 1,000%. Alpaca Finance stands at a market rank of #465 with a capitalization of $70 million.
What is Alpaca Finance?
Alpaca Finance is one of the major decentralized applications on the Binance Smart Chain. The project is the largest lending platform on BSC and not just the largest but it is also the first leveraged yield farming protocol both on Binance Smart Chain and Fantom.
Having its value tied to one of the largest networks in the cryptocurrency market is definitely a plus point – especially since the platform has also established itself to be a major key player of the ecosystem. In terms of total value locked, Alpaca Finance is the third largest protocol on Binance Smart Chain.
What to expect?
The project is also heavily involved in charitable endeavors especially towards animal conservation, rescue and nature-oriented charities. Recently, the platform donated $6,000 to the Southeast Llama Rescue for covering up the cost of veterinary care and support of llamas and alpacas. This is not all. Alpaca Finance has pledged to donate as much as $300,000 to charities. This initiative also puts the project under the radar of many investors.
Moreover, Alpaca Finance is also delving into the NFT segment to expand its scope. The platform launched an NFT collection in collaboration with Project Galaxy exclusive for attendees of an event. This is not the first of such collaborations as the protocol has been consistently partnering up with various projects for exclusive NFT collections.
The value proposition of the project along with its growth trajectory is impressive – which makes it a good investment potential. It also has the support of Binance smart Chain since Alpaca Finance is an integral part of the BSC ecosystem. Moreover, the long-term outlook of the token is also bullish. According to the estimates of Digital Coin Price, the cryptocurrency is expected to end the year with a price level of $0.63 and reach towards $1.33 in five years’ time.
