However, the altcoin is still significantly lower from its all-time high of $0.3126 witnessed in March 2021 during the previous bullish cycle.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
Linear Finance (LINA), has shot up by 40% amid stagnant price movements of the leading cryptocurrencies Bitcoin (BTC) and Ethereum (ETH). The crypto community on social media platform X has been talking about the monument gains shown by the digital asset.
Linear Finance is a delta-one asset protocol with LINA, an ERC-20 coin, as its governance token. The project is known for allowing users to instantly create synthetic assets with unlimited liquidity and consists of Linear.Buildr, a decentralized application that can be used to manage liquidity using LINA and other coins as collateral.
Notably, Linear Finance is focused on providing users with increased scalability and better speed for various functions, keeping the LINA token at the heart of all operations.
As per the data from CoinMarketCap, the LINA token is up by 42% in the last 24 hours and is trading at a price of $0.01332 at the time of writing. Additionally, the trading volume of the digital currency has increased by 75.06% in the past 24 hours, standing at $89.8 million with a market capitalization of $84 million.
Based on volume, the LINA token is ranked 87th on CoinMarketCap, while based on market cap, it is the 523rd largest cryptocurrency. The crypto coin is up 64.23% in the past seven days, while printing a gain of 61.66% in the past month.
However, the altcoin is still significantly lower from its all-time high of $0.3126 witnessed in March 2021 during the previous bullish cycle. If the situation remains similar and volume continues to increase, we might see the token retest the $0.015 price level seen in March 2024.
Analysts on X predicted a 3x-4x increase in the price of Linear Finance (LINA), adding that investors will continue to witness higher prices in the near future.
It is important to note that LINA opened on June 1 at a price of $0.008 and has since then reached a high of $0.0136 in the past 24 hours, printing a 60% surge in value in just four days.
On May 31st, Linear Finance announced the debut of the Linear Marketplace, seeking to “revolutionize peer-to-peer trading for Tokens and NFT Keys”. In a Medium blog, the protocol said that the Linear Marketplace aims to become the “go-to platform for buying and selling”, while adding:
“Whether you’re looking to trade new or illiquid tokens without impacting market prices or transfer ownership of vesting token allocations via NFT Keys, our marketplace has got you covered.”
The marketplace will allow its users to access “a market for trading tokens before they hit major exchanges” while providing escrow services as well. The platform will also feature liquidity recycling and efficient trading, attracting users who seek to trade coins with low liquidity.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
