As of December 27, 2023, there is a noticeable recovery in the cryptocurrency market propelled by diverse expectations. This upturn has reignited investor excitement, with Solana taking the forefront. The market’s positive momentum is chiefly driven by optimism and speculation surrounding the potential approval of the inaugural Bitcoin Spot ETF. Against this backdrop, specific cryptocurrencies such as Bitcoin, Ethereum, XRP, Solana, and Cardano have observed gains. One such altcoin LEVER has gained more than 40% in the last 24 hours. Many are wondering what might happen to its value in the future. In this analysis, we’ll explore and make predictions about where LEVER price might go. Let’s check out our thoughts on the LEVER Price Prediction.
LeverFi, which used to be called RAMP DEFI, is a decentralized platform where people can trade with borrowed money. In March 2022, the RAMP DEFI team changed their name to LeverFi because they wanted to adapt to the unpredictable DeFi market. The goal of this rebrand is to address problems in the current DeFi market, like a lack of sustainable Total Value Locked (TVL) and usefulness.
The LeverFi team wants to create a useful product where users can both trade and earn rewards. People who lend their money earn interest from traders who borrow to trade with leverage, up to 10 times their original amount. If there’s any unused money from lenders, it goes into other DeFi platforms to make more rewards.
LeverFi aims to connect Ethereum with other chains like BNB Chain, Avalanche, Polygon, Arbitrum, Optimism, and more. It acts as a bridge between these different blockchain networks.
How has the LEVER price moved in recent days?
As of today, LeverFi is priced at $0.002435, with a 24-hour trading volume of $996.13 million. It has a market capitalization of $70.20 million and holds a market dominance of 0.00%. Over the last 24 hours, the LEVER price has risen by 41.32%.
On December 12, 2022, LeverFi reached its highest price of $0.005087, marking its all-time high. Its lowest recorded price occurred on August 17, 2023, at $0.000818, representing its all-time low. The lowest price since its all-time high was $0.000818 (cycle low), while the highest LEVER price since the last cycle low was $0.003169 (cycle high).
Currently, there is a bullish sentiment in LeverFi’s price prediction, and the Fear & Greed Index indicates a score of 73, indicating a state of Greed.
LeverFi’s circulating supply is currently 28.83 billion LEVER out of a maximum supply of 35.00 billion LEVER. The current yearly supply inflation rate is 109.51%, resulting in the creation of 15.07 billion LEVER in the last year.
Why is LEVER price up?
The LeverFi (LEVER) token underwent noteworthy fluctuations in the cryptocurrency market. After hitting an all-time low in August, the token made a remarkable recovery, surging by over 230%. Particularly noteworthy is the fact that a substantial portion of this surge, more than 85%, occurred within the month of September.
The LeverFi (LEVER) token has recently experienced a recovery, drawing notable interest after DWF Labs made a multi-million dollar investment in it. This development has caught the attention of significant investors. The infusion of substantial capital, coupled with the growing enthusiasm for decentralized leverage trading, suggests a positive outlook for LeverFi (LEVER). The platform’s innovative approach, combining traditional financial trading with blockchain technology, sets the stage for potential growth within the decentralized finance (DeFi) sector.
LeverFi (LEVER) is also set to introduce ‘LeverPro,’ a specialized launchpad designed for BRC20 tokens within the Bitcoin ecosystem. This strategic move aims to create a dedicated platform for the launch and support of BRC20 tokens, providing a streamlined and efficient environment for projects seeking to enter the Bitcoin ecosystem.
LeverPro is expected to enhance accessibility and visibility for these tokens, fostering innovation and growth within the broader crypto space. As LeverFi continues to expand its ecosystem, the launch of LeverPro reflects its commitment to facilitating the development and integration of diverse blockchain projects within the Bitcoin network.
How high will the LEVER price go?
Over the past year, LeverFi’s (LEVER) performance has been marked by a noteworthy 37% increase in its price. Trading consistently above the 200-day simple moving average indicates a sustained positive trend. The recent trend is further underscored by 16 green days in the last 30 days, representing a solid 53% of positive trading sessions.
LeverFi exhibits high liquidity, as reflected in its market cap, indicating robust investor interest and participation. However, despite these positive indicators, it’s important to note that LeverFi has experienced a decline of -52% from its all-time high, suggesting potential challenges in recapturing previous peak values.
Additionally, LeverFi has been outperformed by 61% of the top 100 cryptocurrencies over the past year and also lags behind the performance of industry giants Bitcoin and Ethereum. Furthermore, the yearly inflation rate of 109.51% raises considerations about the impact of supply dynamics on its long-term value proposition.
Considering the positive technical indicators for LeverFi (LEVER), such as trading consistently above the 200-day simple moving average (SMA) and the recent 37% price increase over the last year, there is a possibility that the 200-day SMA could experience an upward trend in the coming month. The projection suggests a potential rise to $0.001591, reflecting a continuation of the positive momentum.
Furthermore, with 16 green days in the last 30 days and a short-term outlook, the 50-day SMA is anticipated to reach $0.002072 by January 24, 2024. This short-term forecast aligns with the recent positive trend and indicates potential bullish sentiment in the near future. However, it’s important to note that cryptocurrency markets are dynamic and subject to various factors, so these projections should be considered with caution, and ongoing market analysis is recommended to validate and adjust expectations.
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