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- In addition to these new exchange listings, AuCoin’s OPUL staking pool has doubled its capacity to 5 million OPUL, raised the allowable lockup period to 60 days, and now pays a 30% annual percentage yield.
- The price of OPUL has risen 260 percent from a low of $0.287 on March 18 to a daily high of $1.04 on April 4 amid a 415 percent increase in its 24-hour trading volume, according to data from Cointelegraph Markets Pro and TradingView.
- The S-NFT sale took place on March 31 and sold out in less than 45 minutes, exceeding its $50,000 goal. According to data from WeFunder, the sale was oversubscribed and raised $66,900.
The price of OPUL has risen 175 percent since the project announced DeFi staking, CEX listings, and future S-NFT sales. Photo without a profile (PFP) NFTs have been cooling in recent months, but now that Bitcoin and Ethereum have regained their bullishness, altcoins and NFT-focused tokens are beginning to follow suit.
The Initial S-NFT Deal Went Smoothly
The Opulous (OPUL) protocol was the breakout star of the day, with music NFTs being one sector of the ecosystem that is displaying strong indicators this week. Opulous aspires to bring parts of decentralized financing (DeFi) to the music industry, as well as modify the way musicians obtain funding.
The price of OPUL has risen 260 percent from a low of $0.287 on March 18 to a daily high of $1.04 on April 4 amid a 415 percent increase in its 24-hour trading volume, according to data from Cointelegraph Markets Pro and TradingView. The conclusion of its last security NFT (S-NFT) sale, new exchange listings, and the anticipated launch of liquidity pools for OPUL on numerous Algorand-based DeFi protocols are three causes for the price turnaround in OPUL.
The launch of OPUL’s latest S-NFT sale for the song Patek Myself by U.K. rap artist Ard Adz was the biggest driver of interest in the company over the past few weeks. The S-NFT sale took place on March 31 and sold out in less than 45 minutes, exceeding its $50,000 goal. According to data from WeFunder, the sale was oversubscribed and raised $66,900. Since the sale, the Opulous team has stated that the project’s next major announcement will be made this week, and it will include an S-NFT sale for a whole music album.
Through Organised Markets, OPUL Gets Traded
Plans to list OPUL on numerous DeFi protocols in the Algorand (ALGO) ecosystem are also helping to enhance the price of Opulous. The pact, an Algorand-based automated market maker, has already set up two OPUL liquidity pools for ALGO and USD Coin (USDC), and it recently announced a campaign with the Algorand Foundation to distribute 1 million ALGO tokens to its supported pools between April 8 and June 2. Beginning April 5, new staking pools will be available on the Algorand DeFi hub, AlgoFi, according to Opulous.
HotBit and LAToken are two centralized exchanges that OPUL has recently listed. Following the announcement of LAToken’s March 30 listing, the project suggested that another exchange listing would be coming next week, implying the possibility of more price rises. In addition to these new exchange listings, KuCoin’s OPUL staking pool has doubled its capacity to 5 million OPUL, raised the allowable lockup period to 60 days, and now pays a 30% annual percentage yield.
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Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
