Unilend Worth went parabolic on Saturday as buyers centered on the expansion of its ecosystem in the course of the World Cup event. 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 serious drawback. Most platforms present solely a restricted variety of tokens to merchants and buyers. Unilend, then again, solves this problem by offering 1000’s of tokens.
It permits each buying and selling and DeFi capabilities to co-exist throughout the similar 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 laborious to develop its community. They’re at present working to launch the second model of the community. Unilend V2 provides 1000’s of tokens that folks should purchase and promote simply.
Unilend value is rising as buyers cheer the expansion of its community in the course of the World Cup. The builders launched group tokens that folks can commerce on. For instance, if a recreation like Morroco and Portugal is happening, customers should purchase the token of the group they hope will win. Followers can leverage lengthy positions on their favourite groups and brief the opposite groups.
Unilend is just not the one blockchain community participating within the World Cup. OKX, the fast-growing change, has launched an NFT competitors the place folks wager on their favourite groups. Ultimately, winners will distribute over $3 million price of rewards.
Nonetheless, it’s unclear whether or not this UFT value pump will proceed. Prior to now, now we have 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 couple of factors under the very best degree on file. Because it rose, the token rose above the essential resistance degree at $0.3754, the very best degree 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 seemingly proceed falling as sellers goal the assist at $0.32.
