Price: $0.19601 1.1275%
Market Cap: 28.75B 1.146%
Volume (24h): 4.8B 0.2%
Dominance: 1.146%
Price: $0.19601 1.1275%
Market Cap: 28.75B 1.146%
Volume (24h): 4.8B 0.2%
Dominance: 1.146% 1.146%
  • Price: $0.19601 1.1275%
  • Market Cap: 28.75B 1.146%
  • Volume (24h): 4.8B 0.2%
  • Dominance: 1.146% 1.146%
  • Price: $0.19601 1.1275%
Home > Information news > Stader crypto price is nearing $1; how high can SD go?

Stader crypto price is nearing $1; how high can SD go?

Release: 2024/11/08 00:39 Reading: 647

Original author:crypto.news

Original source:https://coinmarketcap.com/community/en/articles/672cd4b316ef0438778795c5

Stader crypto price is nearing $1; how high can SD go?

Stader Crypto Price Surges, Reaching May 9 High

Stader (SD), a leading provider in liquid staking, has seen a remarkable recovery, reaching $0.95 and marking a 213% increase from its monthly low. This surge has boosted its market capitalization to $37.90 million, with a fully diluted valuation of $111.7 million.

As a prominent player in liquid staking, Stader holds significant assets, primarily in Ethereum (ETH), followed by Hedera, Polygon, and Binance Smart Chain, amounting to approximately $426 million. According to its website, Stader has over 100,000 users worldwide.

Liquid staking enables users to stake their tokens and receive liquid tokens representing their staked assets. These liquid tokens can be traded, used in decentralized finance protocols, and redeemed for the original staked assets.

The recent rally in the SD token coincides with the stabilization of assets within the Stader ecosystem. Despite declining to $381 million in September, the total value locked in Stader's ecosystem has rebounded to $463 million.

This recovery indicates potential for further growth as cryptocurrencies continue to regain momentum. For instance, Randy, an analyst with a large following, has predicted Ethereum could reach $5,000 in the coming months.

However, a potential risk to the Stader price is its maximum supply of 120 million tokens, with a current circulating supply of 40.76 million. Monthly token releases of 1.38 million SD could lead to dilution.

Technically, Stader has experienced a breakout after forming a falling wedge pattern, typically a bullish indicator. The token has moved above key moving averages and is approaching $1. The Relative Strength Index and Stochastic Oscillator suggest upward movement but are reaching overbought levels.

Given these factors, the Stader crypto price may potentially pull back and retest the lower support level of $0.40 before potentially continuing its upward trend.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.