Benqi is the ultimate key to all the crypto needs on the Avalanche network. It is constructed on the Avalanche smart contract network known for its speed and capabilities. Benqi offers smart, quick and efficient transactions. Members can lend, borrow, or earn interest with their digital assets using the lending protocol.
Benqi is fascinating in multiple ways. Check out a comprehensive analysis of Benqi, including the functionality, key indicators, seven-year price prediction, token buying options, process of buying and credibility of the token.
Let us explore:
What is Benqi and How does it work?
The first DeFi Lending project on the Avalanche platform is Benqi. It acts as a secure platform where users can borrow and lend digital assets. The Benqi also features liquid staking support using the tokenized staked AVAX. The protocol includes the governance mechanism. The governance token of Benqi is called QI. The holders of QI can vote for the proposals affecting the parameters of the protocol.
Token Name: QI
Market Cap: $ 87,854,923
24-hour trading volume: $78,721,124
Total Supply: 7,200,000,000
Max. Supply: 7,200,000,000
Chains: Avalanche Ecosystem
Categories: Decentralised Finance (DeFi), Yield Farming, Binance Launchpool, Lending/Borrowing, Liquid Staking Governance Token, DragonFly Capital Portfolio.
Key Factors of Benqi (QI)
- Benqi allows the DeFi users from centralised and congested networks a smooth way to transfer and utilise their unused assets.
- The high speed along with the less fee of the Avalanche network empower the Benqi users to access a wide range of DeFi services. This gives them greater control over their financial strategies.
- With the governance tokens and protocol, developers can create financial products.
- To reduce the overloading of the Ethereum network, the users of the Ethereum is provided with low cost and faster alternative
- It is possible for the Benqi users to borrow from the liquidity market, withdraw liquidity from the shared liquidity market and access the interest rates.
Price Prediction of Benqi (QI)?
You need to check the future price prediction of crypto before investing. This can help you calculate the potential returns in the future. At the time of writing this, QI is trading at $76,501,943 for the past 24 hours. This shows an increase of 749.30% from the previous day.
According to the market analysis, we have made a seven-year price prediction of QI . Check out the seven-year price prediction of QI until 2030:
| Year | Minimum Price Prediction | Average Price Prediction | Maximum Price Prediction |
|---|---|---|---|
| 2024 | $0.2882 | $0.4899 | $0.6916 |
| 2025 | $0.5303 | $0.8415 | $1.15 |
| 2026 | $0.8069 | $0.9222 | $1.04 |
| 2027 | $0.3689 | $0.5533 | $0.7378 |
| 2028 | $0.5072 | $0.7147 | $0.9222 |
| 2029 | $0.8761 | $1.48 | $2.07 |
| 2030 | $1.84 | $2.19 | $2.54 |
Where can you buy Benqi (QI)?
You can trade QI tokens on centralised crypto exchanges. The most popular option to buy and trade the Benqi token is Binance, with the most active trading pair QI/USTD It has a trading volume of $54,735,638 in the last 24 hours. You can also choose from other options like MEXC and BingX.
How to buy your Benqi (QI)?
Once you have decided to proceed with the purchasing of Benqi, you need to make a financial strategy before investing. Check out the steps for buying the Benqi crypto:
Step 1: Crypto-Exchange: Crypto exchanges function as the platform or portal for purchasing the cryptocurrency. You need to create a free account in the crypto exchange of your choice. While choosing the exchange make sure that you compare all the available options and choose the one best suitable for your preferences.
Step 2: Exchange Account Funding: Once the account is created the next step is to fund your account. There are multiple funding methods available in all the major exchanges. There are multiple options like credit card, debit card, bank deposit, P2P trading, or third-party payment.
Step 3: Buy you Benqi: After funding the account, you can now proceed with the purchase of the crypto. Choose ‘buy’ from the “buy and sell” option in the exchange. Choose QI from the choices provided. This section is positioned differently on each platform.
Step 4: Transfer QI: You can now transfer the QI to your wallet. After the purchase of QI, you can either hold the crypto in the account or save it in the personal crypto wallet. It is even possible to trade QI for other crypto.
After all the steps have been carefully completed, you can successfully acquire the ownership of Benqi tokens.
Is Benqi (QI) a credible investment option?
Benqi is the brainchild of Rome Blockchain Labs Inc. It is a software development firm fueling their innovation in DeFi. The innovative platform distributes the token to encourage engagement, balanced market utilisation and broad issuing of governance. As per the analysis of its performance and future prediction, Benqi seems to be a credible investment option.
The rushing attitude towards the crypto market is risky. Before investing in crypto, confirm that the investing fund is calculated considering the risk tolerance, investment goals and volatile nature of the crypto market.
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