• The price of Linear Finance’s LINA token has surged by more than 365% since its lowest point this year.
• Linear Finance offers features like Linear Buildr, Exchange, Swap and Vault.
• Social media attention and increasing volume of trades in the ecosystem are likely to be the reasons for the surge in LINA token’s price.
What is Linear Finance?
Linear Finance is a Decentralized Finance (DeFi) platform that provides users with a cross-chain platform to trade digital assets. The platform offers several features such as Linear Buildr, Exchange, Swap and Vault. Currently, it has over $17 million in total value locked (TVL).
Why is LINA Token Price Increasing?
It is unclear why the price of LINA token has surged in recent days. However, it could be attributed to two factors; increased social media attention and increasing volume of trades in the ecosystem. Data compiled by LunaCrush shows that it is one of the most actively mentioned projects on social media platforms such as Twitter, Reddit and StockTwits which typically leads to an increase in its price. Furthermore, TVL has also increased significantly from around $5 million at its lowest level earlier this year to over $13 million currently which could also be contributing to its rising price.
LINA Price Prediction
The daily chart shows that LINA crypto price has been in a strong bullish trend recently after breaking past resistance at $0.0194 which was the highest point on April 6th 2021. Moreover, LINA has moved above both 50-day and 25-day exponential moving averages (EMA) while its volume is gradually increasing upwards indicating further growth potential for the coin. Additionally, Relative Strength Index (RSI) indicates that it might retest support at $0.175 before continuing with its uptrend towards $0.030 level if all conditions remain favorable for investors’ sentiment towards the coin hold up well going forward .
Conclusion
Overall, Linear Finance’s native token – LINA – appears to have benefitted from increased social media attention coupled with higher volumes of trade within its ecosystem which have led it to break some key resistance levels in recent days leading up to current all time high prices for 2021 so far . Although there may still be room for further growth , traders should exercise caution when investing as volatility remains high within cryptocurrency markets .
References
[1] DeFi Llama: https://defillama.com/linearfinance/ [3] Lunar Crush: https://lunarcrushsocial data/projects/lina
