Gifto (GFT) Price Prediction: Gifto in Consolidation Phase as Curve Dao and BNX Continue the Surge in Value
Gifto (GFT) currently has a market capitalization of $115,463,053 based on its circulating supply of 1 billion GFT tokens. At the time of writing GFT is trading at $0.115386, with a 24-hour trading volume of $114,697,643. The token’s price has increased by 0.60% in the past 24 hours but has declined by -5.50% over the past 7 days.
GFT/USD Technical Analysis
The price of Gifto has been in a bearish move since reaching its all-time high of $0.96 in July 2018. The price has experienced a series of bearish moves escalated by the fall of the FTX crypto exchange headed by Sam Bank Fried.
Since the crash of FTX, the price of GFT has been consolidated, trading along the 200-day moving average. The trading volumes are strongly bearish, indicating the price to move further south.
Should the crossing of the moving averages take place, the price of GFT must break out of the consolidation to the next resistance level at $0.1578. Therefore we predict that GFT will reach $0.15 towards the end of Q1 of 2023.
Curve Dao and BNX Perform Well Despite the Crypto Market Falling Again
The crypto market experienced a significant surge in January. Still, it seems to have been in search of a retracement since the start of February, with a sudden fall that has resulted in a close to 5% decline. Most significant altcoins display red figures, and the market capitalization has fallen below 1 trillion.
Despite the current market conditions, some coins still perform well, making them potentially sound investments. Here are a few examples.
The official token of BinaryX, BNX, has experienced a significant upsurge, with its value increasing by over 55% in the past week and over 140% since the start of the year. Despite the falling market, the token has attracted increased investor interest, resulting in a rise in trading volume in the last 24 hours.
BNX has shifted its focus to developing decentralized video games and is now a prominent GameFi and IGO platform. The token has created popular play-to-earn games such as CyberDragon and CyberChess, which are hosted on the BNB chain and have a strong community of over 100,000 coin holders and 30,000 monthly active wallets.
In exciting news, BinaryX recently announced that it plans to expand its range of games and split its token BNX in 2023. This move was decided upon through a DAO vote, which received overwhelming support from the community. 99.5% of voters agreed to the token split, indicating a high confidence level in BinaryX and its plans for the future.
📢Updates on Token Split❗️❗️
🎮We will pause some of our games for token split migration starting from Feb 17, 2023
💫Thank you all for ur continuous support of #CyberDragon and #CyberChess
⬇Check below for Maintenance Time details: pic.twitter.com/R4wqLQhky1
— BinaryX (@binary_x) February 16, 2023
The turbulent market has seen a surge in the value of Curve Dao’s official token, CRV, which has gained significant positive momentum and attracted media attention. Within less than 24 hours, the token has witnessed a staggering surge of over 14%. This rally can be linked to Tether’s issuance of 1 billion USDT tokens.
The ongoing scrutiny of stablecoins by the SEC has presented a favorable environment for Curve Finance. Following Binance’s stablecoin legal troubles, Curve Finance has announced plans to launch its stablecoin, CRVUSD. This announcement has further fuelled the market’s interest in Curve Finance, leading to an upswing in the value of CRV tokens.
@CurveFinance‘s DEX model is DeFi primitive which is integral to all stablecoins (looking at you, $XAI).
We will be launching a $CRV silo bootstrapped with 37.5k $USDC.
Lending market for $CRV: ✅
Lending market for Curve LPs: Soon™️ pic.twitter.com/nXc5RM4IFR
— Silo Finance (@SiloFinance) February 15, 2023
By owning CRV, users can influence decisions related to the governance of the Curve protocol. In contrast, the Curve DeFi protocol facilitates the exchange of stablecoins and ERC-20 tokens between interested parties.
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