BEAN Soars 149% For September 22: Good Time To Profit?

Beanstalk is a decentralized credit-based algorithmic stablecoin protocol that is built on Ethereum. $0.749528 is the current BEAN cryptocurrency token price, and during the day, it surges impressively from $0.425174 to $1.06, representing a 149% profit. Furthermore, the general market cap is not available, and the trading volume represents $5,188,717. Beanstalk uses credit instead of collateral to create price stability for an asset not based on the blockchain.

token erc20To create a decentralized price oracle, Beanstalk uses 2 Uniswap liquidity pools – USDC: ETH and USDBean Logo: ETH. When the ratios of the two pools are identical, Bean Logo1 is considered equal to $1. By trading against ETH instead of USDC directly, Beanstalk minimizes exposure to the centralized operators of USDC. Beanstalk calculates a time-weighted average price for Bean Logo1 over each Season.

April Sanchez

Business and Tech Reporter

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