It’s been revealed that ETH DeFi altcoin has exploded 81% in a single week. Check out the latest reports about this below.

Crypto latest news

According to the latest reports, it seems that an Ethereum (ETH)-based decentralized finance (DeFi) altcoin has ripped by more than 82% this week as most crypto projects tracked sideways.

InSure DeFi (SURE) is an insurance ecosystem for the blockchain realm that helps protect users of DeFi, non-fungible tokens (NFTs) and metaverse gaming.

“The project’s native token, SURE, is worth $0.00798 at time of writing. The 182nd-ranked crypto asset by market cap is up 82.4% in the past week, 203.5% in the past 30 days and more than 320% since the start of 2023,” the online pubcaition the Daily Hodl notes.

Here’s what the project’s whitepaper stated:

“The project aims to create an ecosystem to distribute the risks, where premiums are determined by a Dynamic Pricing Model. Capital required to back the risks at any point of time will be based on the market pricing of SURE tokens and community demand for insurance of the crypto portfolios.”

The notes continued and said the following:

“A decentralized support system will be established to diligently process all the insurance claims and implement the layers of inSureDAO voters to make sure any fraudulent claims are flagged and only valid claims are fulfilled.”

Other financial news  – Face and palm recognition tech in the US

In other news, JP Morgan is testing out biometric-based payments with some of its business customers in the US retail sector to make payments more convenient and secure, as well as to increase take-up of loyalty programmes, according to the latest reports coming from Computer Weekly.

The payments division is running the pilot with selected retail stores and will include the Formula 1 Grand Prix in Miami in May. If this turns out to be successful, there will be a wider roll-out of the technology in the US next year.