HFT price rockets higher and Hashflow gets overbought

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HFT price made a sluggish comeback after plunging to a document low. Hashflow’s token rose to a excessive of $0.3650, which was the best degree since December 18 of this 12 months. It has jumped by greater than 18% from the bottom degree this 12 months, giving it a market cap of over $61.7 million.

What is Hashflow?

The largest crypto news in 2022 was the collapse of centralized companies like FTX, Celsius Network, and Voyager Digital. These collapses highlighted the challenges with centralized finance within the blockchain business.

As a end result, there was an ongoing transition to decentralized finance (DeFi) tasks. One of the most important winners within the DeFi business was Hashflow.

For starters, Hashflow is a decentralized alternate (DEX) for bridgeless cross-chain swaps. It makes it potential for individuals to purchase and promote cryptocurrency tokens throughout a number of blockchains like Ethereum, Avalanche, and Cosmos.

The good thing about utilizing Hashflow is that it has no slippage and zero charges, making it less expensive than widespread DEXs like GMX and Uniswap. Another good thing about Hashflow is that it makes use of a pool-based structure to offer market makers the flexibility to make use of swimming pools as a listing of belongings to begin quoting on the community.

Hashflow bridges the hole between centralized exchanges and decentralized exchanges. It does that by bringing the sophistication of the standard market to the decentralized degree. In lower than two years, it has dealt with transactions value over $11 billion. It has dealt with transactions value over $22 million previously 24 hours and $116 million previously 7 days.

Data compiled by DeFi Llama reveals that the total value locked (TVL) in Hashflow has elevated to over $25 million. Most of those funds are in its Ethereum system. It is adopted by Avalanche, BNB Chain, and Polygon.

HFT price prediction

HFT chart by TradingView

The 4H chart reveals that the Hashflow token price has made a powerful comeback previously few days. It has managed to maneuver from this month’s low of $0.3115 to a excessive of $0.3650. It has additionally moved barely above the 25-day transferring common whereas the Relative Strength Index (RSI) has moved to the extraordinarily overbought degree.

Therefore, with most oscillators overbought, there’s a chance that it’ll pull again barely within the coming days. If this occurs, it’s going to seemingly retest the help at $0.3340.