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The rate of the Popsicle Finance (ICE) token has increased in value by 3 times per day. The sudden jump in prices coincided with the fact that blockchain developer Daniele Sestagalli announced his return to restore the project.
This virtual asset of a decentralized financial platform (DeFi) for creating markets and generating income has risen in price by 220% and reached the price mark of $0.36. Moreover, only 2 days ago it was sold at an average cost of $0.09, which became a historical low.
The Popsicle project is part of a conglomerate of DeFi projects known as Frog Nation, which were led by Sestagalli. It included including Abracadabra.money, whose stablecoin was partially secured by the FTT token of the collapsed FTX exchange, as well as another unsuccessful product — Wonderland (a fork of OlympusDAO).
Sestagalli, known as Dani Sesta, has become a cult figure in the crypto community, thanks to his approach to building projects based on trust in people. However, his reputation was seriously damaged in early 2022, when an analyst at ZachXBT reported that the developer had worked closely with the head of the bankrupt QuadrigaCX exchange. The latter deceived its customers for $ 190 million.
The Popsicle Finance product has had a tough year. According to analysts of the DefiLlama service, the total blocked value (TVL) in smart contracts of the DeFi protocol has seriously fallen over the past 13 months.
Back in November 2021, it was at around $120 million. As of December 20, 2022, this value was fixed at $1 million.
During the specified period of time, the quotes of the ICE token fell by 98%, even despite today's rapid growth. A few days ago, Popsicle Finance deployed the Limone profitability optimizer service based on Avalanche. It worked in test mode.
