The FEG price has been struggling in the past few weeks as the ongoing crisis in Ukraine escalates, and the Fed embraces a more hawkish tone than expected. As a result, the token is trading at $0.0000000035, which is significantly lower than its all-time high of 0.000000020. In addition, according to CoinGecko, its total market capitalization has dropped to about $145 million, making it the 336th biggest coin globally.
What is FEG Token?
The decentralized finance (DeFi) industry has shown substantial growth in the past few years. According to DeFi Llama, the industry has a total value locked of more than $214 billion, making it one of the biggest sectors in the blockchain industry. Some of the biggest players in DeFi are Curve, Makerz, Lido, and Anchor, among others.
Feg is a blockchain platform in the decentralized finance sector. The term FEG stands for Feed Every Gorilla. The platform enables people to trade other assets and create their own secure tokens. By so doing, it has unified the incentives and interests of everyone in DeFi.
The FEG Token is the native governance token for the ecosystem. It is a hyper-deflationary token whose circulating supply decreases every minute of the day. At the same time, about 1% of every transaction is burned immediately, while the burn rate increases as the number of burn tokens rises. Another unique characteristic of Feg Token is that it is fully decentralized with no team and presale tokens.
One of the features of FEG is a reward system known as fWrap. For example, one can create fWrapped BNB or fWrapped ETH. Another feature is staking, which allows people to earn passive income by staking the FEG token. Finally, there is also a liquidity provider feature.
FEG price prediction
Conducting a FEG price prediction is difficult because mainstream exchanges like Coinbase and Binance do not offer it. As a result, the overall volume of the coin is relatively small. However, we see that the FEG price has been attempting to rebound in the past few days on the chart below. As a result, it has moved slightly above the 25-day moving average. The coin will likely remain in this range in the coming days. However, signs of more weakness will emerge if the coin retests its all-time low.