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Cryptocurrency costs have been underneath strain previously few days.
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Lever has been an outlier because it has jumped by 354% from its lowest degree in November.
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Its builders will launch a Dealer Incentive Program on Tuesday.
Cryptocurrency prices began the week on a somber temper as traders refocused on the upcoming Fed rate of interest choice and Fed choice. Bitcoin tumbled beneath $17,000 whereas the whole market cap of all cryptocurrencies dropped to $843 million. LEVER worth defied gravity because the DeFi token jumped to $0.0053. It has jumped by greater than 354% from its lowest degree in November.
Dealer Incentive launch
LeverFi is a small blockchain challenge within the DeFi trade the place it competes with the likes of Uniswap and PancakeSwap. The platform’s essential benefit is that it presents permissionless on-chain leveraged buying and selling with as much as 10x leverage.
Leveraged buying and selling is extraordinarily well-liked amongst merchants, which explains why FTX was such an enormous success. It’s nonetheless one of many riskiest methods to make cash as a result of it includes borrowed cash. LeverFi additionally incorporates the idea of margin lending and the power to earn yields on collateral.
The principle purpose why the LEVER worth is rising is that the builders will launch the Dealer Incentives Program on Tuesday this week. This can be a advertising technique the place individuals who commerce within the ecosystem could have an opportunity to earn 60,000 USD Cash. All merchants who take part with a minimal of $100 can be eligible to win these rewards.
This system will run for 3 months, which means that it’s going to finish on March 12 subsequent yr. These funds can be distributed 20,000 USDC per 30 days. Merchants can be ranked by quantity, with the primary one getting 4,000 USDC. The second, third, 4th, and fifth members will get 2,500 USDC, 1,500 USDC, 1,000 USDC, and 500 USDC, respectively. The opposite members will share the remaining reward pool.
LEVER worth prediction
LEVER/USD chart by TradingView
The 4H chart reveals that the LeverFi worth has been in a robust bullish development previously few classes. Because it rose, it managed to maneuver above the vital resistance at $0.0028, the very best level since November 27. It has managed to rise above all transferring averages whereas the Relative Power Index (RSI) has moved above the overbought degree.
Subsequently, I think that the LEVER worth will resume the downward development as traders promote the very fact. Traditionally, traders are likely to promote an asset after a significant occasion occurs. It is called shopping for the hearsay and promoting the very fact.