NEAR may develop its own stablecoin to compete with Terra’s UST in the near future. Speculation surrounding the announcement looks to be driving the token closer to a crucial resistance level, which, if broken, could drive the token into price discovery mode.
As the network’s utility may be able to expand, the platform appears to be gaining momentum for a strong bullish impulse.
The emergence of an NEAR-native stablecoin has sparked speculation among cryptocurrency fans. The stablecoin, dubbed USN, is believed to work in a similar way as Terra’s UST, in which the native tokens are burned when users desire to mint the stablecoin to raise demand. According to Crypto Insiders’ founder Zoran Kole, USN might possibly offer an annual interest rate of around 20%.
The USN stablecoin recently went live on the NEAR public test network, causing market participants to get excited.
Despite the fact that there have been no official updates on the launch date for USN, it appears that the coin may break out in anticipation of the news.
Since early April, the cryptocurrency has been consolidating within a symmetrical triangle on its four-hour chart. The likelihood of a bullish breakout rises as prices approach the pattern’s apex. A 32.5% upsurge to a new all-time high of $22.4 might be achieved if the $17 resistance level is broken.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Patrick
CoinCu News
Discover the Best New Meme Coins to Join for 2025. BTFD Coin's price rollback offers…
Discover how DTX Exchange's historic achievement of 100,000 transactions per second on a layer-1 blockchain…
VanEck suggests the U.S. could reduce its national debt by 35% by 2050 through a…
President-elect Donald Trump named Bo Hines as the executive director of the presidential crypto council.
Explore the best new meme coins with 1000X potential. Learn how BTFD Coin leads with…
BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…
This website uses cookies.