COVER Protocol (COVER) Soars 64.51% Today: Should You Invest Right Now?

COVER Protocol price today is $265.07 USD with a 24-hour trading volume of $205,038,181 USD. COVER Protocol is up 64.51% in the last 24 hours. The current Coin Market Cap ranking is #747, with a live market cap of $21,243,792.40 USD. It has a circulating supply of 79,179 COVER coins and a max. supply of 70,200 COVER coins. Cover Protocol has introduced Credit Default Swaps (CDS), a new DeFi coverage product that will expand the smart contract coverage offer already available through Cover. As you may know, the credit default swap is a financial instrument that Michael Berry used in 2007 to reduce mortgage debt obligations, which became famous thanks to the movie “The Big Short”. In fact, a CDS is a contract that gives the holder the right to make a payment if the debtor is unable to repay the loan within the established rules of the loan provided. Globally, the CDS market is about $ 4 trillion per year.

Lora Nilsson

Finance and Business reporterAfter graduating high school. Lora decided to travel and blog as a part-timer. Today she enjoys what she loves and works remotely as our finance and business reporter

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