Unilend Worth went parabolic on Saturday as buyers centered on the expansion of its ecosystem throughout the World Cup event. The UFT token surged to a excessive of $0.4460, which was barely beneath its all-time excessive. This made it one of many best-performing cryptocurrencies throughout 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 downside. Most platforms present solely a restricted variety of tokens to merchants and buyers. Unilend, however, 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 threat administration methods for lending, borrowing, and spot buying and selling.
Unilend’s builders have been working onerous to develop its community. They’re presently working to launch the second model of the community. Unilend V2 gives 1000’s of tokens that folks should purchase and promote simply.
Unilend value is rising as buyers cheer the expansion of its community throughout 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 purchase the token of the crew they hope will win. Followers can leverage lengthy positions on their favourite groups and brief the opposite groups.
Unilend will not be the one blockchain community collaborating within the World Cup. OKX, the fast-growing alternate, has launched an NFT competitors the place individuals guess on their favourite groups. Ultimately, winners will distribute over $3 million value of rewards.
Nonetheless, it’s unclear whether or not this UFT value pump will proceed. Previously, now we have seen a number of pumps and dumps throughout 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 beneath the very best stage on document. Because it rose, the token rose above the essential resistance stage at $0.3754, the very best stage on November 20.
Unilend value then declined sharply and moved beneath the assist at $0.3754. It stays above the 25-day and 50-day transferring averages. Due to this fact, the token will probably proceed falling as sellers goal the assist at $0.32.
