The world of decentralized finance (DeFi) is back in the spotlight with a significant price surge of two major tokens, Ethernity (ERN) and JOE (JOE). ERN, the crypto asset of the Ethereum platform, rose by 38.30%, while JOE, the token of DEX Trader Joe on the Avalanche network, rose by 31.86%. This phenomenon attracts the attention of the market and triggers an in-depth analysis of the factors contributing to this positive trend.
Ethernity (ERN) Attracts Investor Interest
Ethernity has managed to attract attention with its innovative non-fungible token (NFT) integration, making ERN one of the leading tokens on Binance. The platform combines DeFi elements with authenticated NFTs, providing an opportunity for users to transact NFTs transparently.
Launching OvenAdd, a leading crypto analyst, named Mac, expressed optimism towards ERN, highlighting its market capitalization of $120 million (around Rp1.7 trillion) and its presence on leading exchanges such as Binance and Coinbase.
Mac also emphasized that Ethernity has raised more than $20 million during the bearish period and provided a rebranding signal that will include AI technology, as well as new tokens for ERN holders. With this development, Mac predicts that ERN has the potential to reach $ 14 (around Rp. 198 thousand) in the near future.
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JOE (JOE) Beyond Limits
JOE, the digital currency of DEX Trader Joe, has shown strong accumulation over the past two years and managed to surpass the important resistance at $0.66 (approximately Rp9,300). An experienced trader, Kriesz, identified a similar JOE pattern to Jupiter (JUP) before its price surge. Kriesz took a position in JOE at $0.80 (approximately Rp11,300), seeing a huge profit opportunity.
Trader Joe has grown rapidly with a TVL of over $4 billion (around IDR 56.6 trillion) since its launch in June 2021, focusing on innovation, speed, and security, as well as putting a community approach first.
The rising price of Avalanche (AVAX), the blockchain on which Trader Joe is based, also played a role in JOE's positive trend. AVAX itself has increased by 15.02% in the last 24 hours, trading at $60.11 (around Rp850 thousand). With more attention on the Avalanche ecosystem, tokens like JOE could potentially benefit from growing interest and adoption.
Also Read How to Buy Crypto:
Conclusion
The rise in ERN and JOE prices reflects a growing interest in DeFi projects with unique added value. Amidst the development of the crypto market, investors and traders continue to look for tokens with a solid foundation, innovation, and significant growth potential. With positive market sentiment towards ERN and JOE, we will see how far these tokens can develop in the future.
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Cara Beli Crypto di Bittime
You can buy and sell crypto assets in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
Learn the Complete Guide on How to Buy Crypto on Bittime.
Also Read:
What is JOE (JOE)? One-stop Decentralized Trading
What is Ethernity (ERN)? A New Way to Explore the World of Authentic NFTs
What Is Avalanche (AVAX) and Its Advantages Over Other Blockchains?
Monitor the price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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