LeverFi’s LEVER token has been one of crypto’s biggest success stories in recent months. Although it sank to an all-time low in August, it has since recovered by more than 230%. Not only that, but September saw its price rise by more than 85%. Things are, at the time of writing, looking positive for the decentralized leverage trading platform.
The news that LeverFi had received a multi-million dollar investment from the DWF Labs market maker also attracted investors attention.
LeverFi did not immediately respond to a request for comment.
But what is LeverFi (LEVER)? How does LeverFi work? Let’s see what we can find out, and also take a look at some of the LeverFi Price Predictions that were being made as of October 2 2023.
Let’s examine some of the LeverFi price predictions being made on October 2 2023. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.
First, CoinCodex made a short-term LeverFi price prediction that said the token would fall to $0.002744 by October 6 before recovering to $0.002922 by October 31. The site’s technical analysis was bullish, with 23 indicators sending positive signals and just seven making bearish ones.
DigitalCoinPrice said that LeverFi would reach $0.00565 at some point this year, while Bitnation said it would be worth $0.004407. PricePrediction .net, meanwhile, claimed LEVER would trade at $0.001 in 2023.
Moving on, DigitalCoinPrice’s LEVER price prediction said it would trade at $0.0101 in two years time. Bitnation said the token would reach $0.010283 then. PricePrediction.net said LeverFi would be worth $0.003 in 2025.
Looking at a more long-term LeverFi price prediction, DigitalCoinPrice said it would reach $0.0304 in 2030. Bitnation thought it could trade at $0.024973 that year. PricePrediction.net’s LeverFi price forecast said it would get to $0.017 by the start of the next decade.
Now, let’s examine the LeverFi price history . While we should never take past performance as an indicator of future results, knowing what the token has achieved can provide us with some very useful context if we want to make or interpret a LeverFi price prediction.
LEVER first came onto the open market in the middle of July 2022. At this time, it was worth about $0.0013. The token shot up quickly, reaching an all-time high of $0.005333 on July 16. The price then fell, with things made worse in November. When the FTX (FTT) exchange collapsed, LEVER sank below $0.001. There was something of a recovery and it closed the year at $0.001648.
So far, 2023 has been a tale of ups, down, and more ups for LEVER. A buoyant market saw it reach $0.003515 on February 20, but then it dropped. June’s news that the United States Securities and Exchange Commission (SEC) was suing the Binance and Coinbase exchanges hit the market. When Crypto.com (CRO) suspended its American institutional operations on June 10, LEVER dropped to $0.0009909.
The token made something of a recovery over the following two months, reaching $0.001631 on August 15. Then, disaster struck. Elon Musk’s SpaceX sold millions of dollars worth of Bitcoin (BTC) and the market collapsed. LEVER slumped to an all-time low of $0.0008609 on August 17.
The token then recovered, albeit with some peaks and troughs. On September 13, it was worth $0.0012. Since then, though, it has shot up. By October 2, it was worth about $0.002875.
At that time, there were 27.43 billion LEVER in circulation out of a total supply of 35 billion. This gave the token a market cap of $78.82 million, making it the 269th-largest crypto by that metric.
LEVER enjoyed a strong September, climbing more than 85% over the course of the month. The token’s current price is more than 15% higher than the last month’s close of $0.002461. Not only that, but it has risen more than 230% since August’s record low and nearly 75% since the start of the year.
It is difficult to tell. LEVER has performed very well over the last month or so, becoming one of the market’s best performers. However, it is still a fairly minor crypto. Both its current investors and the people behind the platform will be hoping that it can continue its run to become a better known system.
As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in LEVER.
No one can really tell right now. While the LeverFi crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up.
Before you decide whether or not to invest in LeverFi, you will have to do your own research, not only on LEVER, but on other coins and tokens such as Chainlink (LINK) or The Graph (GRT). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
LeverFi is a platform that allows people to take a traditional piece of financial trading and apply it to the world of the blockchain. It is a decentralized leverage platform. This means that people can, in effect, borrow money in order to trade it.
Crypto entrepreneurs Lawrence Lim and Loh Zheng Rong founded LeverFi, then known as RAMP DEFI, in 2019. The platform, which is based on the Ethereum (ETH) blockchain, went live under its new name in 2022.
The LEVER crypto token supports the LeverFi platform.
People who use LeverFi can deposit crypto as collateral. This collateral can be unified into a single asset, which allows them to trade with more money than they otherwise would have.
While leverage can enhance profits, it can also magnify losses.
LEVER pays for fees on the network. The token’s holders can vote on changes to the network. People can also buy, sell, and trade it on exchanges.
On October 2 2023, there were 27.43 billion LEVER in circulation out of a total supply of 35 billion.
It might do, but not for a little while. Both Bitnation and DigitalCoinPrice said it would get there in 2025. PricePrediction.net said it would break the cent in 2029.
Bear in mind that LEVER has never traded at $0.01.
The LEVER token pays for fees on the LeverFi crypto platform. The token’s holders can vote on changes to the network. People can also buy, sell, and trade it on exchanges.
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Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.