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Price
$0.32
9/25/2022, 1:22:18 AM
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Market

Market stats

Market cap

$100.2M

Volume (24h)

$358,873.12

Circulating supply

317.6M CFG

All time high

$2.58

Price change (1h)

+0.09%

Price change (24h)

-0.44%

Price change (7d)

-10.62%

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Centrifuge is on the decline this week.

The price of Centrifuge has fallen by 10.62% in the past 7 days. The price declined by 0.44% in the last 24 hours. In just the past hour, the price grew by 0.09%. The current price is $0.315588 per CFG. Centrifuge is 87.77% below the all time high of $2.58.

The current circulating supply is 317,624,602 CFG.

About

What Is Centrifuge (CFG)?

Centrifuge is a network that seeks to enable users to gain fast and cheap capital for small businesses and a stable yield for investors. The network aims to connect real-world assets like invoices, royalties, and real estate to DeFi (decentralized finance) to lower the cost of funding for Small Business Enterprises and provide DeFi investors a stable source of income that is uncorrelated with fluctuating crypto assets. 

As mentioned on the website of Centrifuge, only the large businesses get direct access to liquid capital markets. DeFi seeks to eliminate any sort of barrier for entrance to liquid capital markets. Centrifuge wants to provide this benefit to all borrowers who previously did not have access to DeFi liquidity. The efficiency or convenience with which an asset or security may be converted into immediate currency without influencing its market price is referred to as liquidity.

The Centrifuge chain is a proof-of-stakeblockchain built on Substrate, which helps users to bring their assets on-chain as non-fungible tokens (NFTs). The Substrate is a blockchain framework that enables creating a customized blockchain for any use case. 

CFG is the native token of Centrifuge. The token aims to be utilized for standard network functions like transaction fees and chain security. Besides, CFG also aims to be utilized for on-chain governance. Users participate in the Centrifuge network through Centrifuge (CFG) token rewards. 

Through the CFG tokens, the token holders seek to receive a stake in the Centrifuge network. This enables the CFG token holders to utilize the token to pay transaction fees and participate in the on-chain governance. A portion of the transaction fees is burned as per the rate set by the on-chain governance. Coin burning is the mechanism of removing tokens in supply to reduce the number of tokens in circulation. 

History of Centrifuge (CFG)

The Centrifuge network was founded in 2017. Centrifuge is cofounded by Lucas Vogelsang and Markus Ament. Both also serve as CEO of Centrifuge. Ament is a serial FinTech entrepreneur who has led many startups. The maximum total supply of CFG tokens is 425,000,000. 

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FAQ

What is the current price of Centrifuge?

The price of 1 Centrifuge currently costs $0.32.

What is the market cap of Centrifuge?

The current market cap of Centrifuge is $100.24M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Centrifuge?

The all-time high of Centrifuge is $2.58. This all-time high is highest price paid for Centrifuge since it was launched.

What is the 24 hour trading volume of Centrifuge?

Over the last 24 hours, the trading volume of Centrifuge is $358.87K.

What other assets are similar to Centrifuge?

Assets that have a similar market cap to Centrifuge include Wrapped Velas, iExec RLC, Radio Caca, and many others. To see a full list, see our comparable market cap assets.

How many Centrifuge are there?

The current circulating supply of Centrifuge is 318 million.

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