The native token bio of the desci platform bio protocol, bio on Etheum Mennet and other ecosystems increased after the expansion of the project for tokens.
Summary
- Bio has hit a five -month high of $ 0.103.
- Recently, the stacking for bio and bioedo tokens went live on the atherium mennet.
- The token is a powerful double-bottom breakout on the daily chart.
The Bio Protocol (BIO) shot up to 71.6% at a five -month high of $ 0.103 in August. 7 Before it surpasses some of its benefits and settled at $ 0.084 as the press time. Its market cap was $ 164 million, which was more than $ 124 million yesterday.
The growth of bio occurs in a high-length trading environment, with approximately $ 470 million tokens of tokens for more than 2,100% from the previous day.
Why is the bio going?
Bio Crypto, after confirming the bio protocol, has ralled that it has made head staging for atherium mennet for its bio tokens and bioedo tokens.
Bin called, bio-bio functions as a native token of bio protocols, a decentralized science (DESCI) platform that gives money to biotech reservation in fields such as lonely-governed biodoses, women’s health and synthetic biology.
When users give a stake to bio and related ecosystems tokens, they earn Bioxp points. These points provide eligibility for the sale of gnition of platforms, providing early access to token launch from emerging processes with bio protocol networks.
As a press time, more than 100 million bio tokens stake at the atherium.
The latest expansion follows a strong start for stacking on the basis where million bio was closed within the launch days
By closing tokens for awards, holders effectively reduce the circulating supplement on exchanges. If there is a damage to increase bio -contacts, it is inspired by installation such as bioxap and ignition cell access, it can increase supplements and increase price moves upwards, eight -form durable periods strong market sentiments.
Network activity and market sentiments are improving
The on-chanting activity on the bio protocol has also seen a significant increase in the previous day. Data from Sant Select shows that daily active addresses on the network have jumped more than 370% in the last 24 hours, which read 859 at the press time compared to 180.
An increase in daily active address was usually attached to more user protocols, which is usually a rapid signal and may indicate growing adoption or special interest.
The weightlifting social spirit of the bio protocol also climbed deep into the positive field compared to the previous day, indicating that retail percane has been improved.
Bio price analysis
The bio-day is in late stages to create a classic double-bottom reversal pattern. The first low near $ 0.041 was formed in April, followed by a rebond that stopped around $ 0.103, established the neckline of formation.
The second low passed near $ 0.042 in late June, after which the bio rally rally and briefly broke the neckline on August. 7 Before sliding back below it. This sequence has been produced by a double bottom “W” shape. A continuous daily off above $ 0.103 supported by strong volume will confirm the pattern and reverse a rapid trend.
Momentum signals have become helpful. The 20-day simple moving averages have crossed 50-day, a rapid crossover that suggests the most short-lived most suggestions except medium-trend. The superstrand indicator has also become green in the form of prime, rapidly strengthens prejudice.
Meanwhile, the relative power index is briefly dropped back to 64 after entering the overbott area, showing that the pullback can be a natural improvement after a strong rally recently, but the beginning of the downtrend.
Based on the above setup, immediate resistance currently laces on the neckline near $ 0.103. A decisive breakout over this learning triggers a motor towards $ 0.164, the measured target is obtained from the height of DBEL-Botum formation.
Disclosure: This article is not DOS representative investment advice. Materials and materials are painted on this page, only for education.