Lista DAO crypto experienced a notable rise right from its debut on a major exchange Binance on June 20th. Initially pegged at $0.0565, LISTA was featured in a Binance MegaDrop event, which helped the crypto gain traction and demand for the crypto.
The successful listing of LISTA along with a price boost shows investors’ confidence in the project. At the time of writing, Lista DAO was hovering close to $0.717, reflecting a 6.75% intraday rise.
Lista DAO is a decentralized and open-source protocol for stablecoin lending protocol. Powered by LSDfi, LISTA experienced a notable rise on the very first day of debut. It enables users to engage in both staking and liquid staking, alongside the option to borrow lisUSD using diverse forms of decentralized collateral.
LISTA is the native token of Lista DAO. It serves several key functions within the protocol, including governance, incentivizing participation, and determining voting power.
As per a recent tweet by Spot on Chain, the value of the token surged by 37% following its airdrop and introduction on various exchanges like Binance and other platforms.
The $LISTA price is up 37% since its airdrop and CEX listing.
— Spot On Chain (@spotonchain) June 21, 2024
We noticed that 59% of the claimed airdrop, ~31.1M $LISTA, went to 12 receiving entities.
Among these claimers’ tokens, 25M $LISTA ($16.8M) have been either sold via DEX or deposited to #Binance and #Bitget in the… pic.twitter.com/C5EndAFF6X
Moreover, a significant portion, nearly 59%, of the airdrop tokens, amounting to 31.1 million LISTA, was claimed by a small group of just 12 entities. Within the first 20 hours post-airdrop, transactions involving 25 million LISTA tokens, which were worth approximately $16.8 Million, took place.
Also, these tokens were either traded on decentralized exchanges (DEXs) or moved to centralized exchanges such as Binance and Bitget. As per the data on spot on chain, concentrated ownership and the flurry of trading activity might be the factors that led to the impressive rise in LISTA price.
The daily chart reveals a bullish bias in the Lista DAO price on the second consecutive day. The price is up over 6% intraday, however, the momentum seemed to be cooling down on the 2nd day.
Now, the price may sustain in the bullish territory until it hovers above the intraday low. The bulls are in control of the trend. However, more buying volume may enter the market if the price breaks above the intraday high.
On the other side, the breakdown below the intraday low may trigger a profit booking phase for the short-term traders and investors and the price may decline.
Lista DAO is a decentralized stablecoin lending protocol. LISTA is the native token that allows staking, liquid stacking, and borrowing against various collaterals. Moreover, Post-airdrop, 59% of tokens were claimed by 12 entities, with 25 million LISTA, worth $16.8 Million, traded or moved to exchanges like Binance.
The LISTA price noticed a bullish trend rising over 6% on the second consecutive day. Now, until the price stays above the intraday low the bulls may look for a buy-on-dip opportunity. A break above the intraday high could attract more buyers, while a drop below could lead to profit booking and a price decline.
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