 has recently achieved a major milestone by being listed on the Crypto.com App.Now customers can use the Crypto.com Visa Card to spend WELL at more than 80 million retailers worldwide.){kind=link}
Moonwell (WELL), a decentralized finance (DeFi) protocol, has recently achieved a major milestone by being listed on the Crypto.com App. This inclusion provides access to a growing list of over 250 supported cryptocurrencies, including heavyweights like Bitcoin (BTC), Ether (ETH), and USD Coin (USDC). However, despite this achievement, Moonwell’s price has been under significant pressure.
Moonwell Listed on Crypto.com
Crypto.com stated that users of Crypto.com may now quickly buy WELL, the governance token of Moonwell, with over 20 fiat currencies, including USD and EUR. Additionally, customers can use the Crypto.com Visa Card to spend WELL at more than 80 million retailers worldwide.
WELL’s inclusion on Crypto.com increases the token’s usability for both experienced and inexperienced investors, enhancing its standing as a significant participant in the DeFi market.
With its decentralised lending and borrowing platform, Moonwell is based on the Polkadot ecosystem’s Moonbeam and Moonriver parachains. With its easy-to-use interface, people may lend or borrow digital assets while keeping total control.
It is a decentralised and transparent platform since the community can vote on important protocol decisions through the governance token, WELL.
Moonwell’s Price Struggles
Despite its promising technology and new listing on Crypto.com, Moonwell has faced a steep decline in its price. Currently, WELL is trading at $0.0294, down by over 9% in the last 24 hours.
Additionally, its 24-hour trading volume has dropped by 22%, further signalling short-term challenges in the market. The price dip raises concerns about investor sentiment, as the token grapples with broader market volatility.
Moonwell has expanded its reach even further by being added to Coinbase’s products in addition to being listed on Crypto.com. Leading US exchange Coinbase emphasised Moonwell’s compatibility with both Moonbeam (GLMR) and Moonriver (MOVR) as well as its connectivity with its blockchain, Base.
The protocol’s adaptability inside the DeFi ecosystem is further demonstrated by its compatibility with Optimism (OP), Ethereum’s layer-2 scaling solution.
Moonwell’s standing in the DeFi industry is growing as a result of its exposure from major exchange listings. However, there is a temporary obstacle in the form of the market’s current fall.
The protocol may eventually see a price rebound because of its long-term promise, which is supported by its integrations and compatibility with important blockchain solutions.