Afraid To See TrueFi Rocket Up To 500% In Early August - Kakiforex.com - Financial Market Media No. 1 in the World Afraid To See TrueFi Rocket Up To 500% In Early August Afraid To See TrueFi Rocket Up To 500% In Early August
InstaForex

August 6, 2021

Afraid To See TrueFi Rocket Up To 500% In Early August

 TrueFi is a DeFi loan platform like Aave or Venus that allows investors to benefit from stablecoin deposits.


The TrueFi protocol aims to create interest groups with high APRs for liquidity providers by incorporating utility and reward mechanisms using TrustTokens (TRU).


TRU is a ‘native token’ to TrueFi which covers aspects of usage such as STAKING, FARMING and GOVERNANCE.


Most recently, TrueFi has secured a $ 12.5 million fundraise from Blocktower Capital through Andreessen Horowitz and Alameda Research as announced on TrustToken’s Twitter tweet.


We're proud to announce a $ 12.5 million fundraise by @BlockTower @a16z & @AlamedaResearch.


These funds will be directed to scaling #TrueFi, the world's leading uncollateralized lending protocol, powered by $ TRU


Read more from @FrancesYue_ on @CoinDesk: https: //t.co/hZXnCKEh1b


- TrueFi.io (@TrustToken) August 4, 2021


The development has slightly supported the TRU price to make a drastic jump of up to 500% and then hit the latest all -time high (ATH) at the $ 1 level.



Looking at the TRU/USDT chart, the price movement is seen to be re -testing the ATH level around $ 0.55 reached earlier.


If the TRU price manages to continue rising, the $ 0.75- $ 0.80 resistance zone is expected to be retested before the price heads to the ATH $ 1 level.


The $ 1 ATH level will also be the main focus for investors to be challenged to reach the latest ATH level.


However, if the price decline occurs again, the RBS (resistance become support) level of $ 0.45 will be tested again before making a lower decline.


As of 3.00pm local time, the TRU price is down more than 10% to trade at a price level of around $ 0.55.