CFG

Centrifuge price

CFG
|
3.5/5
CyberScope
4.4
05/20/2024
TokenInsight
2.6
03/10/2023
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USD
USD
$0.73087
-3.25%
1h
24h
1W
1M
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Centrifuge price live data

The current price of Centrifuge is $0.73087. Since 00:00 UTC, Centrifuge has decreased by -3.24%. It currently has a circulating supply of 494,111,906 CFG and a maximum supply of 546,763,868 CFG, giving it a fully diluted market cap of $361.20M. At present, Centrifuge holds the 128 position in market cap rankings. The Centrifuge/USD price is updated in real-time.

Centrifuge price performance in USD

Time periodChange amount%Chg
Today-$0.02450 -3.25%
7 days$0.066268 +9.97%
30 days-$0.05173 -6.62%
3 months$0.14557 +24.87%

Centrifuge market information

24h low/high
The highest, lowest, and last prices in 24 hours
24h low$0.70637
Last price $0.73087
24h high$0.76516
Heat index ranking
203
Market cap ranking
128
Market cap
$361.20M
Favorited rate
Percentage of users who favorited this asset to all users
0.74%
All-time high
$2.5975
-71.87% (-$1.8666)
Oct 14, 2021 (3 years ago)
All-time low
$0.14000
+422.04% ($0.59087)
Jan 1, 2023 (1 year ago)
ICO date
07/14/2021
ICO price
The price at which this crypto was first traded
$0.55000
Circulating supply
The amount of this crypto that is publicly available in the market
494,111,906 CFG
Market cap at circulating supply
Market cap = Circulating supply × Last price
$399.68M

About Centrifuge (CFG)

Purchasing cryptocurrency offers numerous benefits, including uninterrupted market access, fast transactions, and user autonomy over their assets. However, the notable drawback is the significant volatility that cryptocurrencies often exhibit.

While some volatility is necessary for trading opportunities, the crypto market tends to experience heightened fluctuations. This is where projects like Centrifuge (CFG) come into play, aiming to provide a less volatile alternative while retaining the advantages of cryptocurrencies.

What is Centrifuge?

Centrifuge is a decentralized asset financing protocol that bridges the gap between real-world assets (RWA) and decentralized finance (DeFi). By connecting these two realms, Centrifuge offers traders a stable source of income while reducing the cost of capital for small and mid-size enterprises (SMEs).

The project's primary objective is to generate profits independent of the volatility of traditional crypto assets. It aims to achieve this by facilitating the transfer of real monetary value from fiat currencies to the crypto space, providing a more stable and reliable trading option.

The Centrifuge team

The Centrifuge team, composed of Martin Quensel and Lucas Vogelsand, launched the project in 2017. Vogelsand, the founding engineer of Centrifuge, also holds the CEO position within the company. Before his involvement with Centrifuge, he co-founded DeinDeal, a well-known e-commerce startup, in 2010. Quensel, on the other hand, serves as the project's COO. Before his role at Centrifuge, he was also a co-founder of Taulia.

How does Centrifuge work?

Centrifuge allows its client companies to access the liquidity of DeFi. They get to tokenize real assets, and use these tokens as collateral for accessing financing using Tinlake, the project’s decentralized application (DApp) lending protocol. Centrifuge’s network was built on Polkadot, so it also gets access to fast speeds and low fees.Meanwhile, its financial DApp Tinlake was built to access the liquidity on Ethereum.

CFG: Centrifuge's native token

Centrifuge has its native cryptocurrency called CFG token. The CFG token was introduced in July 2021 and does not have a maximum supply. The total supply of CFG tokens is currently 430.01 million. As of June 2023, the circulating supply of CFG tokens is 360.26 million units.

CFG token use cases

The CFG token serves various use cases within the Centrifuge ecosystem. It is utilized for trading, investing, and staking activities. Additionally, the token powers the network infrastructure and the project's DApp. It is also employed for paying transaction fees and participating in governance decisions.

Distribution of CFG

The distribution of CFG tokens is as follows:

  • 17.1 percent is allocated to private round funding.
  • 8 percent is allocated to public funding rounds.
  • 27 percent is allocated to the team.
  • 11.8 percent is allocated for the development of the project.
  • 7.3 percent is set aside for rewards.
  • 11.8 percent is allocated to the foundation.
  • 9.9 percent is allocated toward the ecosystem.
  • 7.1 percent is allocated for grants.

CFG FAQ

What is Centrifuge?

Centrifuge is a decentralized finance (DeFi) protocol that revolutionizes the tokenization of real-world assets. Centrifuge converts these assets into non-fungible tokens (NFTs), unlocking their value and enabling seamless integration with the broader DeFi ecosystem. The protocol's Tinlake decentralized application (DApp) acts as a gateway, providing access to the liquidity and functionality of the Ethereum blockchain.

What are the benefits of Centrifuge?

Centrifuge offers several benefits to its users. One key advantage is the elimination of third-party intermediaries, such as banks, when obtaining loans for real-world assets. This provides borrowers an alternative financing option and expands their access to financial opportunities. 

Additionally, Centrifuge's integration of real-world assets into the DeFi space unlocks a diverse range of financial tools that would otherwise be inaccessible through traditional financial systems.

Where can I buy CFG?

You can buy CFG tokens on a number of different spot trading markets. One example is OKX which offers a CFG/USDT pair. 

Swap your existing cryptocurrencies, including Bitcoin (BTC), Cardano (ADA), Tether (USDT), and USD Coin (USDC), for CFG with zero fees and no price slippage by using OKX Convert.

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CFG/USDT
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CFG-USDT
Copy bot
Spot grid
1
46.06%
PnL%
CFG-USDT
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Spot DCA
1
26.29%
PnL%