LimeWire remains very bullish as trading volume skyrockets

The Algorand-based AI-powered content publishing platform LimeWire is back on trends with its native utility token, LMWR, reaching its 25-week high. 

LMWR is up by 85% in the past 24 hours and is trading at $0.36 at the time of writing — last seen in mid-May this year. The asset’s market cap has reached $16.35 million. 24-hour trading volume rose by 490%, surpassing the $6.9 million mark. 

LimeWire remains very bullish as trading volume skyrockets - 1
LMWR price – Nov. 7 | Source: Santiment

The asset touched a local top of $0.47 briefly at around 03:00 UTC earlier today. At the current price point, LimeWire is up by 462% from its all-time low of $0.05 in mid-August and still down by 83% from its all-time high of $1.92 in mid-May when the token launched.

You might also like: Zero-knowledge proof investments surge as practical use cases emerge

Moreover, data provided by Investors Observer shows that the resistance point for LMWR is set at around $0.16, with the expectations of a further plunge if the asset closes down to the $0.13 mark. 

However, per Investors Observer, LimeWire remains “very bullish” as the asset surpassed the $0.30 price point. 

According to an X post by the crypto screener DYOR.net, LMWR became the top USDT trading pair on KuCoin on Nov. 6.

Read more: The landscape of crypto exchanges never stops changing
Follow Us on Google News

Comments

Post a Comment

Popular posts from this blog

Bitcoin Price Prediction as the Coin Corrects to $25.8k After Traders Withdrew $100 Million in BTC from Binance

Image
Join Our Telegram channel to stay up to date on breaking news coverage The Bitcoin price saw another dip over the weekend, similar to the one on May 5th. After a brief recovery between May 7th, BTC first dropped to $26.4k, where it remained for the rest of last week, until Saturday, when it crashed to a support at $25.8k, finally dropping below $26,000 once more. Since the drop, the price has been mostly stable, although Bitcoin trading sideways typically does not last. The big question now is whether the price is going to recover again or break the support and continue the drop. Experts believe that BTC might see a potential bullish rally of about +20-25% if the coin maintains its position above the trendline and successfully breaks out from the wedge to the upside. However, a bearish rally toward $21.5k is just as possible if the current support breaks. Others have argued that BTC needs to see $23k and $25k for future gain. The price came too close to the channel suppo
Read more

XRP Could Reach $10,000 For Its Role in CBDCs, Predicts Analyst

Image
Ripple announced a private XRP ledger (XRPL) in 2021 for CBDCs leveraging blockchain technology. The development makes cryptocurrencies “be leveraged as a neutral bridge asset for frictionless value movement between CBDCs and other currencies,” said the company. Around 130 countries around the world are looking to launch CBDCs, touting them as the future of all transactions. 98% of the world is exploring CBDC options, and XRP could gain big if they incorporate their ledger technology with other nations. Also Read: U.S. & European Union React to BRICS Expansion Taking this into consideration, pseudonymous cryptocurrency analyst Bitforcoinz predicted that Ripple ’s integration with CBDCs could catapult the XRP price to new highs. According to the price prediction, XRP could touch $10,000 if it powers CBDCs in all countries that explore digital currencies. #XRP was designed to settle CBDC's! There are not enough XRPz out there to brige all the money at a price of $10
Read more

Binance US chief the latest exec to leave amid regulatory troubles

Brian Shroder, the chief exec of Binance US , has stepped down and been temporarily replaced by chief legal officer Norman Reed, as the firm cuts one-third of its employees amid mounting regulatory scrutiny. Shroder’s departure comes hot on the heels of other Binance top executives leaving, including head of Eastern Europe and Russia, Gleb Kostarev, and global head of product, Mayur Kamat. The global crypto exchange is embroiled in numerous regulatory crackdowns and investigations by the US Commodity Futures Trading Commission (CFTC), Justice Department, and Securities and Exchange Commission (SEC), into money laundering, mishandling customer funds, ignoring sanctions, and more. Binance US has also decided to cut another round of employees, this time more than 100 people. A spokesperson said in a statement that the move was a direct result of regulatory pressure in the US. “The actions we are taking today provide Binance.US with more than seven years of financial runway and enab
Read more