After posting a year of huge gains, cryptocurrencies like bitcoin and Ether kicked off 2022. However, some altcoins are bucking that trend in the cryptocurrency world.
Better returns at lower risk
This is the case of Lossless (LSS), which is currently trading at a higher price compared to how it opened the year and even better than Bitcoin and Ether, the two cryptocurrencies that dominate the sector.
Lossless is a decentralized finance alternative (DeFi), a better alternative to crypto exchanges, which emerged a couple of years ago.
Through DeFi, a user can perform multiple tasks, including lending, borrowing and exchanging crypto holdings, this because users in a way decide the rules to govern themselves.
An answer to fraud threats
That being the case, Lossless is a DeFi protocol that has as an additional advantage the mitigation of fraud to its users, as it claims to be able to detect bots and hacks.
Under this approach, in case of a fraudulent transaction, the transfer is immediately reversed, returning the stolen cryptocurrencies to the rightful owner.
Lossless DeFi uses the LSS token to enable wagering, fee payment and voting participation, but additionally rewards users who detect and alert on a fraud threat.
It should be noted that this cryptocurrency has a market cap of $35 million and its LSS token is trading at about $0.96.
Investor interest in DeFi and Lossless’ claim that it removes fraud from the network may be a trigger for price growth throughout this year.
So, to come to think of the LSS token as a good investment will depend on how blockchain enthusiasts react to the Lossless DeFi protocol’s claim to prevent fraud on its platform.