Unilend Value went parabolic on Saturday as traders centered on the expansion of its ecosystem in the course of the World Cup match. The UFT token surged to a excessive of $0.4460, which was barely under its all-time excessive. This made it one of many best-performing cryptocurrencies in the course of the weekend.
What’s Unilend and why is it rising?
Unilend is a small however fast-growing platform within the Decentralized Finance (DeFi) business that solves a significant drawback. Most platforms present solely a restricted variety of tokens to merchants and traders. Unilend, alternatively, solves this problem by offering hundreds of tokens.
It permits each buying and selling and DeFi capabilities to co-exist inside the identical protocol. By so doing, it hopes to resolve the liquidity and liquidation concern that limits the expansion of DeFi. It does this by letting customers create their very own lending and danger administration methods for lending, borrowing, and spot buying and selling.
Unilend’s builders have been working arduous to develop its community. They’re at present working to launch the second model of the community. Unilend V2 gives hundreds of tokens that folks should buy and promote simply.
Unilend value is rising as traders cheer the expansion of its community in the course of the World Cup. The builders launched crew tokens that folks can commerce on. For instance, if a recreation like Morroco and Portugal is occurring, customers should buy the token of the crew they hope will win. Followers can leverage lengthy positions on their favourite groups and quick the opposite groups.
Unilend is just not the one blockchain community collaborating within the World Cup. OKX, the fast-growing change, has launched an NFT competitors the place folks guess on their favourite groups. In the long run, winners will distribute over $3 million value of rewards.
Nonetheless, it’s unclear whether or not this UFT value pump will proceed. Prior to now, we’ve got seen a number of pumps and dumps in the course of the weekend. For instance, we noticed OSMO value surge after which collapse.
Unilend value prediction
The four-hour chart exhibits that the UFT value surged on Saturday. It rose to a excessive of $0.4718, which was a number of factors under the very best stage on document. Because it rose, the token rose above the vital resistance stage at $0.3754, the very best stage on November 20.
Unilend value then declined sharply and moved under the assist at $0.3754. It stays above the 25-day and 50-day transferring averages. Subsequently, the token will doubtless proceed falling as sellers goal the assist at $0.32.
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