Soil is a blockchain-based lending protocol that aims to fill the gap between crypto and traditional finance. The platform stands out from the other lending DeFi platforms by having RWA backing and operating within the regulatory framework. The platform is powered by the $SOIL token, which represents its value and is the default mode for distributing rewards.
This article will give you a comprehensive overview of the Soil DeFi platform and its native token by the same name. I will talk about the main features of the project, the economics of the token, its past performance, and future price forecasts. In the end, you can also find details about where and how can buy them, should you be interested.
Soil (SOIL) Key Features
| RWA backing | Soil comes with the stability of Real World Asset backing. This makes the platform approachable to people who don’t trust intangible digital assets. |
| Regulation | The platform operates within a regulated framework. This will ensure transparency and compliance with the transactions. |
| Auditing | Soil has gone through a security audit by Hacken, ensuring robust security. |
| DeFi 2.0 | Soil integrates the strengths of decentralized finance with TradFi. |
Soil (SOIL) Tokenomics
Soil has a total supply of 100 million tokens and it is also the maximum supply. At 3,435,834 tokens, less than 3.5% of SOIL is in existing supply. By implementing a deflationary model, the token focuses on sustainable growth.
Soil (SOIL) Past Performance
Soil started trading in October 2023 at a start price of $0.1. SOIL has gradually appreciated until March 2024, when the token started to take off. Soil hit an all-time high of $3.99 toward the end of the month.
At the time of writing, Soil is trading at $3.06, which is 13.98% up from yesterday.
The token’s market capitalization now stands at $10.5 million. The 24-hour trading volume is at $582k.
Soil (SOIL) Price Prediction
Technical indicators suggest that the current market sentiment is bullish while the fear & greed index is at 76 indicating extreme greed. Soil recorded 20 (67%) green days in the past month with a significantly high 54.27% price volatility. Our analysts think that now is a good time to buy Soil.
2024: In 2024, thanks to the tailwinds from the highly anticipated Bitcoin halving event, the price of Soil is expected to go up by 233.11% and hit $10.27 by the end of May.
2025: Moving on to 2025, SOIL is projected to be priced between $3.08 and $14.82. Compared to today’s price, this will be translated into a gain of 386.75% if the token hits the upper price target.
2030: Fast forward to 2030, the price of SOIL is expected to fall between $8.06 and $13.06. Compared to today’s price, the token could gain as high as 325.75%.
Where to Buy Soil (SOIL)?
You can buy SOIL from the following places with reasonable market depth.
How to Buy Soil (SOIL)?
This is how you can buy the soil token from MEXC.
- First, go to the MEXC website and register for a free account. You can also do this on the app.
- Now verify your identity by completing the KYC procedure.
- Click on the ‘buy crypto’ link at the top of the site and choose the credit card method.
- Now you can buy Soil tokens directly from other users using MEXC’s peer-to-peer service.
Conclusion
Soil offers the best of both worlds from DeFi and TradFi. The platform serves as an entry point for users into the decentralized finance world, thanks to RWA-backed lending. Since its inception late last year, the platform’s utility token SOIL, has been doing relatively well. Our analysts are bullish about the token.
With all that positive talk, I want to stress the point that crypto assets, including cryptocurrencies, are considered a high-risk investment. Owing to its still-early stages, these digital assets undergo extreme price fluctuations and their prices can deviate too much from their actual value. I encourage the reader to exercise caution and stay away from speculative assets and leveraged instruments.
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