Root Network Token Don Blow 175% After Dem Launch Staking And Big Whales Dey Buy Am
Root Network token (ROOT) price don soar by 175%, e don reach hin highest level since March, all dis na because dem just launch staking for di network. Dis new staking tin make users earn Vortex tokens, wey dem fit use swap for ROOT or XRP. Di staking feature don make user activity go up well well, with daily active addresses don reach record 801 and total token holders don near 10,000—wey be sharp jump from 8,830 for January. Big big investors (whales) sef join, dem increase dia holdings from 10 billion to 11.9 billion ROOT. Root Network na layer-1 blockchain wey dey focus on gaming and metaverse apps, e get partnerships with Ripple, Warner Bros, Reebok, and Tencent. Popular games for dia ecosystem include Reebok Impact and The Third Kingdom. Technical analysis show say ROOT reach $0.0096 after e fall go $0.0034, follow falling wedge pattern. But, Relative Strength Index (RSI) dey for overbought level of 85, wey mean say small pullback fit happen as traders fit take profit. For crypto traders, di staking launch and increased network activity na strong bullish signs, but dem gats dey careful because of overbought technicals and say e fit retrace.
Bullish
Di Root Network, di like say dem don start staking options, small investors and di big big ones don rush in, make demand and price go up. Plenty people dey use am now, and big investors dey hold am pass before, na sign say e go still dey go up. E happen before for other 'layer-1' projects wey start staking. But wetin dem dey call 'technical indicators' like RSI wey don reach 85, show say e fit drop small for short time because people go wan cash out. But for long run, as di network go dey useful pass and get more partners, e go still dey good.