A renowned Ethereum whale that decided to join the social media on an experiment has announced that he believes that a less popular cryptocurrency in the DeFi (Decentralized Finance) space would surge very soon.
The Ether whale that goes by 0x_b1 on the famous microblogging platform, Twitter, said in his response to a Twitter user’s tweet that yAxis (YAX), a DeFi altcoin, could see a real surge in its value very soon in the future as it is rising to combat the service of Yearn.Finance in the decentralized finance space.
He said in the tweet that from here, yAxis is pretty easy 2x to 4y. This news is not even out, and we are donating yet another 5000 YAX to the upcoming epoch of YAX-ETH LP for strengthening the plans of the yAxis project.
According to yAxis’ blog post, as a yield aggregator, yAxis has been designed to enhance investors in generating the maximum value of passive income possible from the DeFi (decentralized Finance) protocols with little or no effort at all. Its DAO, Decentralized Autonomous Organization, is responsible for selecting the best APYs while considering various factors like market sentiment, withdrawal fees, and the price gap in assets conversion.
According to a report released by Daily Hodl, yAxis Token, YAX, is not created to have any value, but the decentralized autonomous organization of the protocol can decide by vote to share profits made from the platform to the holders of the token. The token is trading at $35 currently and is available on the decentralized exchange Uniswap only.
It is worth noting that the Ether Whale, 0xb1, has verified his status as an Ether whale having a huge portfolio containing millions of altcoins. The whale user has a signed address on the blockchain to verify who he is and who he claimed to be.
The address currently has about 1,200 ETH, which is worth $1.78 million, and other ERC-20 tokens valuing $429 million altogether. Their largest holdings include the tokenized version of Ethereum (ETH), Chainlink (LINK), and Bitcoin (BTC).
