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TrueFi Price Prediction – Can TRU Hold Onto Gains Despite Mistaken Connection to TrueUSD?

TrueFi
TrueFi

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TrueFi

TRU, the Ethereum-based ERC-20 token that powers decentralized finance protocol TrueFi, saw an enormous near 100% price spike on Thursday. The crypto token was last changing hands around $0.083, down a little over 5.0% on Friday amid further profit-taking, with TRU having now dipped over 40% since Thursday’s intra-day multi-month highs in the mid-$0.14s.

TRU chart

But that still leaves TrueFi’s TRU token over 80% higher versus its Wednesday close, with the cryptocurrency having spiked aggressively above its 200DMA just under $0.05. TRU’s spike appears to have been triggered by speculation as a result of a recent Binance stablecoin transaction.

On Thursday, Binance minted $50 million in TrueUSD (TUSD), sparking speculation that the TUSD stablecoin might be about to take a larger role within Binance’s platform following the recent US regulatory crackdown on Paxos, the issuer of Binance USD (BUSD). Traders seem to have taken the mistaken view that this would be beneficial for the TrueFi protocol.

Actually, TrueFi no longer issues TUSD. As of 2020, a firm called Techteryx does. TrueFi conducts uncollateralized lending using on-chain credit scores and the TRU token can be used for staking and governance within the TrueFi protocol.

Price Prediction – Where Next for TRU?

As traders who bought TRU thinking that the TrueFi platform would get a boost from Binance minting more TUSD start to realize their mistake, they might start dumping TRU back on the market. An aggressive pullback to sub-$0.0550 levels and a retest of the 200DMA just below $0.05 is possible. However, it is likely that TRU would then recommence its uptrend that has been in play since the start of the year, given the optimism across broader cryptocurrency markets.

TRU 2

TRU’s short-term outlook contains a lot of downside risk. If investors are looking for cryptocurrencies that might have a much better risk-reward for strong performance in 2023, they should check out some of the top presales currently taking place. Here are a few popular presales vetted by analysts at InsideBitcoins.

Fight Out (FGHT) – Presale on Now

The young move-to-earn crypto niche has shown a lot of promise, but early success stories like STEPN have significant limitations that have, so far, prevented them from conquering the mainstream. Fight Out, which touts itself as the future of move-to-earn, wants to change that in 2023.

Fight Out is a brand new web3 fitness application and gym chain that rewards its users for working out, completing challenges, and competing within a first-of-its-kind fitness metaverse. While existing M2E applications such as STEPN only track steps and require expensive non-fungible token (NFT) buy-ins to take part, Fight Out takes a more holistic approach to tracking and rewarding its users for their exercise and activity, and doesn’t require any expensive buy-ins to take part.

Fight Out is currently conducting a presale of the FGHT token that will power its web3 ecosystem and has already raised a whopping nearly $4.3 million. The token is scheduled to list across centralized exchanges in April at $0.033 per token. Investors should move quickly, as if they secure tokens now, they could be sat on paper gains of nearly 50% by the time the crypto token lists on exchanges at the start of Q2. Gains could be even higher if investors make use of Fight Out’s generous bonus scheme.

Visit Fight Out Now

Metropoly (METRO) – Presale Minimum Target Nearly Hit

Metropoly has an ambitious goal – to transform the real estate market by democratizing access to real estate investment. How? By building the world’s first marketplace for real estate non-fungible tokens (NFTs). And these NFTs aren’t for digital real estate in some metaverse. These tokens represent a real ownership stake in a real property, that Metropoly will also be renting out so that owners can earn a passive income.

Metropoly is currently conducting a presale to fund its ongoing development recently surpassed the $500,000 milestone. The start-up has already released a beta version of its platform, which already looks great and is proving very popular. The barriers to traditional real estate investment around the world are huge. Metropoly hopes its platform can level the playing field, with investors able to start owning property with as little as $100.

Visit Metropoly’s Presale Here

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