LEND Coin could outperform Bitcoin in 2020
February 7, 2020 by Hitesh Malviya
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LEND coin is a 111th ranked cryptocurrency on coinmarketcap. Lend is a native cryptocurrency token of a Decentralised protocol – AAVE, Previously known as ETHLEND. ETHLEND rebranded into AAVE last year and introduced new features and functionality in their product. LEND coin is currently trading 0.035$, and the current market cap of this cryptocurrency is
LEND coin is a 111th ranked cryptocurrency on coinmarketcap. Lend is a native cryptocurrency token of a Decentralised protocol – AAVE, Previously known as ETHLEND. ETHLEND rebranded into AAVE last year and introduced new features and functionality in their product. LEND coin is currently trading 0.035$, and the current market cap of this cryptocurrency is 38.6M$. LEND was one of the TOP 3 Price gainers on Binance exchange last year, it witnessed a 2000% Price gain against Bitcoin.
2020 is the year of DEFI, and We believe LEND could outperform Bitcoin in this year.
Coin Information
CoinMarketCap Rank: 111
Market cap: 38.6M$
Total Supply: 1,299,999,942
Circulating Supply: 1,128,357,877
Supported Exchanges: Binance, Bilaxy, Gate.io
Fundamental Analysis
- AAVE’s platform is a close competitor to another famous DEFI Platform – MakerDAO. There is a huge gap between MAKERDAO and AAVE’s Market cap. MakerDAO has a market cap of 570M$ which is more than 11 times the market cap of AAVE.
Guide to Lending Platforms
- AAVE launched AAVE Pay last year, which allows users to pay bills, salaries and shopping expenses with crypto.
- AAVE launched an open-source decentralized pool for Lending last year, which makes the whole lending process easy and fast.
- AAVE will launch new features called – Flashloans and Rate switching on the main network this year.
Technical Analysis
1- Month Chart
On the Monthly chart, We can clearly spot a strong uptrend. Lend Price is in an uptrend for the last six months, and LEND’s price recently made a new 15 Months high at 0.00000389 BTC.
Monthly Resistances: 0.00000635 BTC, 0.00000902 BTC
LEND coin could quickly rise above 0.00000900 BTC after breaking above 0.00000635 BTC – which is a strong monthly resistance. The second resistance at 0.00000902 BTC is weak as compared to the previous one.
IF LEND manages to close the current month above 0.00000635 BTC then we believe LEND Price could reach above 0.00001200 BTC in next month, which is 3.5x from the current price.
1-Week Chart
LEND’s Coin price is in an uptrend on the weekly chart, Price is currently challenging 67-week old resistance at 0.00000355 BTC. LEND needs to close above 0.00000355 BTC for bullish continuation to the next resistance at 0.00000487 and 0.00000635 BTC.
Trade Signal
Exchange: Binance
Entries: 0.00000200- 0.00000300 BTC
Exit: 0.00001200 – 0.00001800 BTC
STOP: 0.00000150 BTC
Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.
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Published at Fri, 07 Feb 2020 12:20:02 +0000
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