The token price of decentralized finance (DeFi) LeverFi, which partnered with Microsoft last month, has skyrocketed. Altcoin became an important agenda topic in the market after this important partnership. However, as reported by Lookonchain, after this rise, the project team went on sale. Amidst these developments, LEVER price saw a sharp decline.
The team went on sale, the altcoin price dropped sharply
As you follow from Kriptokoin.com, last month Microsoft joined forces with LeverFi to launch an AI-powered solution aimed at overcoming the challenges faced by the decentralized finance (DeFi) industry. Following this development, the altcoin price recorded a strong increase. During this period, LEVER price increased by 2X. In a recent development, as reported by on-chain analytics platform Lookonchain, the project team has started sales. This move was influenced by the strong rise in the price of the token. Lookonchain states that the team dumped the tokens to Binance and started selling them. In this context, Lookonchain shared the following:
LEVER price increased by ~100% after LeverFi Farming Reserves transferred 3.3B LEVER ($6.36 million) to DWF Labs. LeverFi Farming Reserves then deposited 1.14B LEVER ($1.95M) into Binance and 60M LEVER ($103K) into Bybit after the price increased.
The price of $LEVER increased by ~100% after LeverFi Farming Reserves transferred 3.3B $LEVER($6.36M) to DWF Labs.
Then LeverFi Farming Reserves deposited 1.14B $LEVER ($1.95M) to #Binance and 60M $LEVER ($103K) to #Bybit after the price increased.https://t.co/sVNDC74kln pic.twitter.com/PRugExkAAc
— Lookonchain (@lookonchain) October 4, 2023
At press time, LEVER was trading at $0.001717, down nearly 28%. Additionally, the 24-hour trading volume stands at $67,807,221. The altcoin is ranked 378 in the current CoinMarketCap rankings.
LEVER daily price chart. Source: CoinMarketCapMicrosoft and LeverFi partnership
Microsoft and LeverFi have joined forces to launch an AI-powered solution. In this way, they aim to overcome the challenges faced by the decentralized finance (DeFi) sector. The DeFi ecosystem is grappling with some significant challenges such as security attacks, weak risk management policies. These challenges have led to a lack of trust among users. Additionally, DeFi remains a major hurdle for new users entering the altcoin space.
To overcome these hurdles, LeverFi said it has launched Morpheus, an AI portfolio management assistant in collaboration with Microsoft. Morpheus provides portfolio management insights and on-chain monitoring through machine learning. Thus, it aims to help users navigate the complex DeFi landscape. The artificial intelligence-supported assistant will detect market anomalies. It will also support users in portfolio management, reducing risks and avoiding common pitfalls. Morpheus consists of two core AI engines, one for protocols and the other for user wallets. The protocol engine aims to protect users in real time. Thus, it scans, monitors and reacts to vulnerabilities or protocol risks.
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