The cryptocurrency market has been experiencing a significant correction due to substantial selloffs by large holders, commonly known as whales. This has resulted in approximately $1 billion in total leveraged liquidations. However, amidst this downturn, the Usual (USUAL) token has emerged as a remarkable exception, achieving a 33 percent increase in value over the last 24 hours. Trading at approximately $1.46 during the early European session on Friday, this newly introduced altcoin has caught the attention of numerous crypto enthusiasts, especially following its listing on major exchanges, including Binance.
Unpacking the Usual Token’s Market Dynamics
Recent market data reveals that the Usual token boasts an impressive volume-to-market cap ratio of about 222 percent. It has reached a fully diluted valuation of around $6.3 billion. This highly liquid altcoin has also secured more than $1.2 billion in Total Value Locked (TVL) through its USDO Stablecoin, further highlighting its appeal among investors.
The Significance of Usual Protocols
The Usual protocol stands out as a secure and decentralized issuer of fiat stablecoins. It redistributes ownership and governance via the USUAL token, aggregating the growing Real World Assets (RWA) industry. Leading entities such as BlackRock, Ondo, Mountain Protocol, and Hashnote are at the forefront of this movement, solidifying the protocol’s importance in the crypto ecosystem.
Usual x Ethena x BUIDL by Securitize: A New Era for DeFi
In a groundbreaking collaboration, the Usual protocol has announced a strategic partnership with Ethena and BUIDL by Securitize. This alliance aims to unlock higher yields in the stablecoin industry, setting a new standard in liquidity, yield, and composability. This collaboration, often referred to as the “Holy Trinity of DeFi Renaissance,” signifies a pivotal moment in the evolution of decentralized finance.
Anticipating the Future of Usual Token
The mid-cap altcoin, Usual, has been on an upward trajectory in recent weeks. However, technical indicators suggest a potential correction may be imminent. With only 12.37 percent of the USUAL token currently in circulation, the altcoin is susceptible to increased selling pressure as recipients of airdropped tokens may seek to capitalize on their profits.
From a technical analysis perspective, the USUAL price is forming a rising wedge pattern. The daily Relative Strength Index (RSI) indicates an overbought condition, hovering above 90 percent. This heightened demand and enthusiasm for the USUAL token could lead to a correction, potentially pushing the altcoin toward a support level of approximately 65 cents.
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