In the midst of the ongoing crypto market correction, driven significantly by the heavy selloff by crypto whales, the Usual (USUAL) token has emerged as a remarkable outlier. Despite the market turbulence that resulted in approximately $1 billion in total leveraged liquidations, the Usual token demonstrated an impressive 33 percent growth in the last 24 hours. By Friday, during the early European session, USUAL was trading at approximately $1.46, capturing the attention of crypto traders worldwide. This surge in interest was largely due to its recent listing on prominent crypto exchanges, spearheaded by Binance.
According to the latest market data, the Usual token boasts a volume-to-market cap ratio of approximately 222 percent, after achieving a fully diluted valuation of about $6.3 billion. This highly liquid altcoin has secured over $1.2 billion in total value locked (TVL), primarily through its USDO Stablecoin. Such metrics highlight the growing interest and confidence in the Usual token within the crypto community.
Why Usual Protocols Matter Significantly
The Usual protocol has made its debut as a secure and decentralized issuer of fiat stablecoins, redistributing ownership and governance via the USUAL token. It aggregates the burgeoning Real World Asset (RWA) industry, drawing from leading entities like BlackRock, Ondo, Mountain Protocol, and Hashnote among others. By doing so, the Usual protocol is setting a new standard in the stablecoin sector, ensuring security and decentralization are at the forefront of its operations.
Moreover, the Usual protocol recently announced a strategic partnership with Ethena and BUIDL by Securitize, marking a significant milestone in the stablecoins industry. This collaboration aims to unlock higher yields and enhance liquidity, yield, and composability, thereby setting a new benchmark for the future of stablecoins. This alliance is being hailed as the “Holy Trinity of DeFi Renaissance,” underscoring its potential to transform the DeFi landscape.
What’s Next for Usual Token?
As a mid-cap altcoin, Usual has been on an upward trajectory over the past few weeks, but technical indicators suggest a potential correction in the near future. With only 12.37 percent of the USUAL token currently in circulation, the altcoin faces significant potential selling pressure as airdropped holders may look to capitalize on their gains. From a technical analysis perspective, the USUAL price has been forming a rising wedge pattern, with the daily Relative Strength Index (RSI) hovering in an overbought territory of above 90 percent. This heightened demand for the USUAL token could lead to a market correction, potentially driving the altcoin toward a support level around 65 cents.
In conclusion, while the Usual token has shown remarkable resilience and growth amid a challenging crypto environment, traders and investors should remain cautious of potential corrections. The recent strategic partnerships and strong market performance highlight its potential in the DeFi space, but market dynamics and technical indicators suggest that prudence is warranted.
