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What is Beta Finance?

Beta Finance platform

Beta Finance is a money market platform where users can act as borrowers, lenders, traders, and liquidity providers to earn profits. As the first project launched on Alpha Finance’s Launchpad, Beta Finance is considered a significant name, determining the quality of IDOs on Alpha Finance.

Beta Finance v2: Omni

Beta Finance v2: Omni banner

Beta Finance features

Unique features of Beta Finance

Beta Finance shares similarities with other money market platforms like Compound and Aave, serving as a place for users to deposit assets to earn interest or to borrow assets from others. On Beta Finance, users can, deposit assets to earn interest, short assets to profit in the same way as futures trading, and safeguard their farming earnings by shorting highly volatile assets. They can also engage in arbitrage business by searching for the price difference between centralized and decentralized exchanges and profit by ‘buying’ the assets and ‘selling’ the derivatives like Perpetual Futures to make a quick buck.

Beta Finance features

One distinctive feature of Beta Finance is its ability to allow users to become traders and short (sell assets they believe will decrease in value, similar to shorting in futures or margin trading).

Beta Finance managing

Why only shorting and not longing?

Beta Finance lending features

Beta Finance highlighted the fact that now there is a truly massive bubble in the DeFi market, which in turn directly affects the sky-high prices or even thousands of percent in some cases of profits. Moreover, leverage is provided to the users to make even more profits in yield farming as well as there is support in the same process too. But this is true if BTC changes a lot and causes the panic selling or heavy liquidations which does not work well for sustainable DeFi.

Purchasing in excess and selling in insufficient quantities likely couldn’t be easier for users of Beta Finance, as its one-click short also caters to the DeFi market flow. This aligns with Beta Finance’s mission: for building essential structures to address the DeFi fluctuation while offering the users the means to shape a stable market.

Beta Finance (BETA) coin market status

BETA token

BETA token. (Source: MarginATM)

BETA coin is the native utility and governance token of the Beta Finance platform, allowing holders to stake their tokens to act as a backstop for shortfall events and earn a share of the protocol’s revenue. As an ERC-20 token on the Ethereum blockchain, BETA ensures security and decentralization. With a total supply of 1 billion tokens, BETA plays a crucial role in the platform’s stability and governance, incentivizing user participation and contributing to the overall success of Beta Finance.

BETA price

Currently, Beta Finance’s (BETA) token trading price is at $0.08883, up by 70% against the dollar in the past day. For Beta Finance, market capitalization is equal to $70.87 million, and $242.51 million worth of BETA was traded in the last day. This increase in the value is a good indication for Beta Finance in essentially the area of cryptocurrency.

Beta Finance (BETA) coin price prediction

Last week, Beta Finance was worth $0.04341, but now it's $0.08883, showing a 104.63% change in a week. Yet, BETA grew by 69.83% in the last day. The overall outlook remains positive, with Beta Finance crypto price predictions suggesting a rise to $1.06 by 2025. At present, Beta Finance has 798.48 million in supply and a market cap of $70.87 million. 2024 was big for Beta Finance, with trading up by 27.79% in the last 30 days, affecting the price in the short and long term.

Disclaimer: This article provides an overview based on available information and does not constitute investment advice. The views and opinions expressed herein are those of the author, always verify details from reliable sources and consult financial advisors if needed.

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Beta Finance Crypto’s Surging Growth: What You Need to Know

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