Aavegotchi (GHST) An NFT Token To Watch Out For! - Kakiforex.com - Financial Market Media No. 1 in the World Aavegotchi (GHST) An NFT Token To Watch Out For! Aavegotchi (GHST) An NFT Token To Watch Out For!
InstaForex

June 25, 2021

Aavegotchi (GHST) An NFT Token To Watch Out For!

 Aavegotchi is a DeFi -focused non fungible token (NFT) that runs on the Aave protocol. In short, Aavegotchi is a game of avatars that can be used as DeFi collateral to reap rewards from staking.


The mainnet was launched in January 2021 by Jesse Johnson or better known as Coder Dan.


The uniqueness of Aavegotchi is that playable assets act as collateral on the DeFi network, in contrast to other NFTs, having inherent benefits in industries where their value exceeds the prospects of the game.


To interact with Gotchi, DeFi users need to stake a select group of tokens known as ATokens such as LINK (aLINK) and USDC (aUSDC) into Gotchi.


Looking at the GHST/BUSD chart, the GHST price movement has recorded a good price movement chart producing a jump of over 1,500% in the 2021 market to record the latest all -time high (ATH) level at the price level of $ 1.96 on 3 May.



From a technical point of view, the GHST price movement is trying to regain upward momentum, the SBR (support become resistance) level around $ 0.98 is seen to be the next focus level to target.


For higher price increases, the price is expected to test the SBR level and may test the trendline resistance to give a clear signal to make a higher rise.


However, if the GHST price continues the bearish trend, the price is seen to test the support level of $ 0.93 before heading to the lowest level ever recorded before.


At the time of writing, GHST/BUSD is trading at $ 0.96 down 0.09% in the last 24 hours.