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DeFi Staking Leads 175% Surge in Opulous Price

defi 1 DeFi News
    • The price of Opulous (OPUL) has rallied 175% following recent announcements.
    • OPUL launched its newest S-NFT sale for the U.K. rap artist Ard Adz.
    • Opulous plans to list OPUL on a wide array of DeFi protocols in the Algorand ecosystem.

The price of Opulous (OPUL) has rallied 175% from its low following the announcement of their Decentralized Finance (DeFi) staking, their upcoming security NFT (S-NFT) sale and a number of centralized exchange listings.

The main contributor to the increase in investor interest in OPUL over the last couple of weeks is the launch of its newest S-NFT sale for the U.K. rap artist Ard Adz’s song “Patek Myself”. The sale was held on 31 March and the goal of raising $50,000 was reached in only 45 minutes.

At the end of the day they managed to raise $66,900 due to the sale being oversubscribed, according to data from WeFunder.

Following this success, Opulous is making their next big announcement sometime this week and it is said to include another S-NFT sale for an entire music album.

Another contributing factor that gave the Opulous price a boost is their plans to list OPUL on a wide array of DeFi protocols in the Algorand (ALGO) ecosystem. The Alogorand-based automated market maker, Pact, has already established two liquidity pools for OPUL.

These liquidity pools are paired with ALGO and USD Coin (USDC). Pact has also announced a campaign in conjunction with the Algorand foundation. The campaign will distribute 1 million ALGO tokens to supported pools between April 8 and June 2.

The last contributor to OPUL’s recent price surge is the firm’s announcement that they will be introducing new staking pools to the Algorand DeFi hub, AlgoFi, at the beginning of April this year.

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Danielle has a post graduate degree in Criminology. She is an active investor in the crypto space and is on a mission to learn more and share what she learns with the community.