The TROY token has long gone parabolic, hovering over the past eight consecutive days and reaching its absolute top degree since July 2023.
Troy (TROY), a cryptocurrency on the intersection of synthetic intelligence and gaming, rose to $0.0042, marking a 342% lengthen from its lowest degree in October. This rally has boosted its market cap to over $41 million.
TROY’s surge adopted listings on Bitget and Binance, two of the head crypto exchanges, which added TROY futures to their platforms.
These listings helped push originate passion in TROY futures to a file excessive of $57 million, with most of it focused on Binance, Bitget, and BingX. This originate passion is vastly higher than final week’s low of $3.5 million. Cryptocurrency costs in total look jumps following listings on predominant exchanges.
TROY also acquired momentum after receiving a strategic investment from Unicorn Verse, a firm with investments in other cryptocurrencies take care of LeverFi, Simon’s Cat, Ponke, and CoralApp.
🎉 Troy AI is thrilled to drawl that we’ve acquired a strategic liquidity investment from @Unicornverse_io! pic.twitter.com/xxJJQwQozB
— TROY AI(The Pure Joy of AI) (@TROY_DAO) October 28, 2024
According to its white paper, TROY is a blockchain network that operates TROY Play, a marketplace for AI agents accessible by TROY ID. This platform lets in users to import agents from networks take care of AgentLayer’s AgentStudio and other third-occasion applications.
The network also entails TROY DAO and TROY Commerce. TROY DAO is a membership platform granting holders privileges similar to early fetch admission to to AI agents, while TROY Commerce helps the growth of AI projects interior the network. As fraction of its growth, builders have announced a $10 million ecosystem fund.
A key menace for TROY investors is that the number of holding addresses has dropped from 2,197 on Sunday to 2,160. Additionally, the head ten holders comprise 98% of all tokens, which methodology that the cost would possibly be vastly impacted if they resolve to promote.
TROY token will get overbought
The day-to-day chart reveals that the TROY token bottomed at $0.00097, its lowest level since Aug. 8, and has since surged by triple digits. It has formed a golden substandard sample as the 200-day and 50-day sharp averages crossed.
The MACD indicator has persevered to upward push, with the 2 strains reaching their absolute top level in months. The Relative Energy Index has surged to an overbought degree of 74.57.
Due to this fact, the token would perhaps also pull motivate within the coming days as the upward momentum fades. If this happens, the next enhance degree to peek shall be $0.0023, its lowest level on Sunday, Nov. 3. Additional beneficial properties shall be confirmed if the cost surpasses this week’s excessive of $0.0042.
