THENA THE Crypto Surges as DeFi Dominates the Spotlight on BNB Chain
THE, the digital currency associated with THENA, a trading network on the BNB Chain, is experiencing a surge. The crypto token increased by 80% yesterday, following announcements of proactive expansion initiatives and significant partnerships.
As Bitcoin and several of the top cryptocurrencies to invest in are correcting after substantial weekend gains that extended into Monday, attention is swiftly turning to , the native crypto token of the decentralized trading protocol facilitating perpetual futures trades on the BNB Chain, THENA.
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THE Crypto Soars 80%
In contrast to BTC and BNB, which are both presently unstable based on daily chart candlestick formations, THE crypto shows strong resilience.
It has surged an impressive 82% in just the last day, emerging as a standout performer, significantly outpacing even some of the leading Solana meme coins.
The daily chart for THEUSDT clearly indicates that buyers are firmly in control. The spike on July 15 occurred with significant relative volume, indicating robust interest.
Owing to this rapid growth, THE is now trading at fresh five-month highs, reaching levels not seen since mid-February.
If optimistic momentum continues today, THE crypto could easily rise to $0.85 and perhaps exceed $2 in the upcoming trading weeks.
However, data from DefiLlama indicates that the rapid growth on July 15 did not influence THENA’s total value locked (TVL).
At present, THENA maintains a TVL of over $22 million, remaining stable over the past two weeks.
Nevertheless, with prices soaring, THE trading volume has significantly escalated, jumping from approximately $54 million on July 14 to over $485 million as of July 15.
THE available volume is also on the rise, indicating a growing commitment from available volume providers looking to take advantage of increased activity and swaps in the past day.
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What is Causing THENA to Trend? What’s Fueling Prices?
The significant factor behind yesterday’s incredible surge was a major announcement made by the co-founder on Discord.
The executive presented ambitious plans to broaden THENA’s Decentralized finance ecosystem, integrate innovative solutions to attract more available volume providers and partners, and pursue institutional price floor.
Notably, THENA intends to onboard additional LPs for top-tier assets like BNB and ETH, as well as stablecoins such as USDC and USDT.
The objective is to improve THENA’s available volume position within the larger BNB Chain ecosystem.
By broadening its offerings to include these widely-used assets and more stablecoins, THENA aims to gain a larger market share, further enhancing its trading volume; a positive outcome for bulls.
Sell in May and go away? Not for @ThenaFi_$THE rose more than 35%, and 24H Volume reached a 5-month peak close to $3M, securing the position of the 4th most traded asset on THENA.
Meanwhile, @Theseus_fi (CEO of THENA) shared key insights in Discord regarding business and product plans, certainly worth following
pic.twitter.com/6tNDwpCtK9
— SΔM (
Additionally, the co-founder shared information about a proposed strategic alliance with Venus Network, a prominent lending network on the BNB Chain and one of the largest players in DeFi.
While specific details are sparse, this reflects THENA’s ambition to develop a super app that offers increased possibilities for active traders and liquidity providers.
Once executed, the proposal will generate new yield opportunities for veTHE holders. Moreover, it’s likely that some users from Venus will consider trading on THENA, leading to increased activity and revenue for the platform.
Most importantly, the team lead disclosed ongoing negotiations with VanEck and Securitize for tokenization of real-world assets (RWA). Should a fraction of United States treasuries be tokenized on the BNB Chain, with THENA facilitating the trading, THE prices could rise considerably. BlackRock, through Securitize and VanEck, already oversees multi-billion-dollar funds focused on tokenizing treasuries.
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THE Crypto Soars 80% as THENA Dominates BNB Chain DeFi
- THE crypto increases by 80%
- Token trading at a five-month peak
- THENA aims to enhance its position in the BNB Chain DeFi landscape
- Co-founder reveals plans for expedited growth and strategic partnerships
The post THENA THE Crypto Surges as DeFi Takes Center Stage on BNB Chain appeared first on 99Bitcoins.
