Crypto news in the blockchain industry: how are Avalanche (AVAX), Litecoin (LTC) and Velo coins performing?
Below is an overview regarding current prices and future forecasts.
Summary
Nereus Finance pioneers the use of Aegis to support Avalanche
The Lossless team recently announced the expansion of its activities. In fact, the Aegis smart contract monitoring system offered support for six blockchains: Ethereum, BNB Chain, Polygon, Fantom, Elysium and Harmony.
Support has now been added for the seventh blockchain: Avalanche. As we know, the integration of additional support for a blockchain is an important step for any platform.
Alex, co-founder and CEO of Nereus Finance, said the following about this:
“Through the innovative financial solutions of Nereus Finance and the robust security provided by Lossless Aegis, we are setting a new standard of reliability and security for users on the Avalanche blockchain. Together we are committed to creating an ecosystem that protects digital assets and mitigates potential risks.”
Therefore, the collaboration represents the shared vision of empowering people in their financial journey, enabling them to transact, borrow and lend with confidence.
The goal is to foster a secure and prosperous environment where users can explore the full potential of decentralized finance.
Focus on the price of the crypto Litecoin (LTC): comparison with Avalanche and Velo
The price of LTC recently traded at a crucial support level, the breach or breakage of which could have a significant impact on the future trend.
Indeed, a break below the above support would invalidate a bullish structure that has been in place for a year. On the other hand, a strong rebound could lead to another attempt to break above the $100 threshold.
Consequently, LTC’s analysis suggests a mixed situation, but with a slight bearish bias.
As we know, the price has been declining since April, when it was pushed back from the horizontal resistance zone at $100. Since then, the price has formed a lower high, confirming that area as resistance and causing a further decline.
In any case, the RSI (Relative Strength Index) shows a bearish trend, confirming the possibility of a breakout.
It is worth remembering that the RSI is a momentum indicator used by traders to assess whether a market is overbought or oversold, enabling them to make decisions to accumulate or sell an asset.
Bullish traders have an advantage when the RSI reading is above 50 and the trend is upward, while the opposite is true when the reading is below 50. Currently, the RSI indicator has fallen below 50 and continues to decline, indicating a bearish trend.
The price of Velo crypto on the rise: the details
Based on the latest data, we see that the price of crypto Velo (VELO) has seen an increase today. Currently, the price of Velo is $0.00289580, with a trading volume for the past 24 hours of $2,502,917.05.
This represents a price increase of 6.92% in the last 24 hours and an increase of 7.28% over 7 days. As a reminder, with a circulating supply of 7.4 billion VELO, Velo has a market capitalization of US$21,373,366.
In addition, the daily trading volume of Velo (VELO) over the past 24 hours is USD 2,502,917, indicating a 178.00% increase over the previous day, highlighting a recent increase in market activity.
However, we should note that the all-time high reached by Velo (VELO) is 2.29 USD, recorded on 8 March 2021, more than two years ago. In comparison, the current price is 99.87% lower than the all-time high.
Anyway, when comparing with other cryptocurrencies, Velo’s price performance shows a 7.30% increase over 7 days, which is lower than the 11.00% growth rate of the global cryptocurrency market, but higher than the 1.00% increase of currencies in the BNB Chain ecosystem.
Market sentiment toward Velo today is predominantly bullish, as more than 80% of users express an optimistic opinion about Velo (VELO).
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