WonderFi Technologies – One of most promising penny stocks to buy in 2021

WonderFi Technologies – One of most promising penny stocks

In this article we’ll be discussing some recent developments involving one of our favorite stocks. For the Rich Picks Daily community, WonderFi Technologies Inc. (NEO: WNDR) (OTC Pink: WONDF) (WKN: A3C166) has been a big success, and it’s just getting started. This is one of the ideal penny stocks to buy in 2021 or at least to keep an eye on for starters since it has a really outstanding presence in a unique industry; Decentralized Finance (DeFi). Let’s take a look at what has transpired lately for this incredible stock.

The big update:

Recently, the WonderFI revealed that it got the go-ahead from its board of directors to acquire up to 10 million CAD worth of digital assets weighted across key assets that generate value in the decentralized finance industry.

Not too long ago the company closed a bought deal financing of nearly 26 million CAD led by Canaccord Genuity Corp. WonderFi’s product development roadmap and distribution to a global audience are the primary beneficiaries of the investment, with a reasonable percentage going toward the company’s digital asset portfolio expansion.

WonderFi’s crypto and decentralized finance asset allocation is based on data and analysis from the industry. And the corporation is looking for long-term assets. Prior to the acquisition, all assets are evaluated for technical, market, and governance risk, and continual monitoring is performed.

In order to minimize short-term price volatility, WonderFi purchases will be made through dollar-cost averaging. Staking and other decentralized finance mechanisms may be used to generate yield on some of the digital assets stored in the firm’s treasury if the corporation considers it safe enough to do so.

Even more encouraging news:

The above-mentioned news was followed by another positive development, further strengthening WonderFi’s case as one of the best penny stocks to buy in 2021. The company has increased the number of Ethereum validator nodes in use. Additional POS validator nodes have been established and deployed by the firm as part of its decentralized finance infrastructure and portfolio management plan on the Ethereum network. With that, the firm now has 10 complete Ethereum nodes running.

Cong Ly, WonderFi Technologies’ CTO, stated that the firm is expanding its infrastructure to maintain its financial position while also creating new product opportunities. On staked assets, the validator node returns around 6% APYY.

Validator nodes play a key role in safeguarding the network and verifying transactions in blockchain protocols that utilize POS consensus processes. It is necessary for participants to deposit ETH in order to become a network validator. Ordering transactions and producing new blocks are the responsibilities of validators, that are compensated with block rewards for their efforts.

Maintaining and upgrading its validator nodes, as well as evaluating the possibility for further POS-related prospects across decentralized financial networks, will be the company’s primary focus going forward.

We Were the First to Bring You WonderFi:

We initially introduced WonderFi to you on IPO day, when it was far lower than where it is today. Nearly 1.20 CAD is the lowest it has been. And the highest it has gone is 2.65 CAD.

It is important for traders to be aware of the low-lows and the high-highs. If you want to succeed, you must stay up-to-date on the latest developments and be conscious of your finances. You must have a thorough understanding of the company’s foundations. It’s important to note that DeFi is one of the hottest topics around the globe. If you haven’t noticed, the price of Bitcoin and other cryptocurrencies is soaring. WonderFi is a business in that industry, after all. So if Bitcoin, cryptocurrencies, or DeFi thrive, WonderFi should follow suit.

While WonderFi is gaining traction on social media, it has yet to release an app. So we believe sky is the limit as far as WonderFi is concerned. The company has done some retracing, which has given investors the option to collect gains or, if they missed the first buy-in window and didn’t want to purchase at the top, they can consider jumping on the dip.

Final Word:

DeFi is one of the world’s most in-demand sectors, and WonderFi is well-positioned to take advantage of its recent movements in the market. So if you’re looking for a DeFi stock with a good staff, a robust balance sheet, and a strong share structure, WonderFi is your best bet and remains one of the most promising penny stocks to buy in 2021. It would be a great idea to keep an eye out for them.

To track the performance of WonderFi and see how it is shaping up, add it to your watchlist here. And don’t forget to follow our Youtube channel to view useful investing videos. Thanks for reading.

Warning: As of the time of your reading this blog post, the price of the stock detailed herein may have changed. Remember to conduct your due diligence before making an investing decision.

Disclaimer

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