The cryptocurrency market experienced positive volatility on April 28, with many major sectors witnessing significant price increases. This upward trend was particularly notable in the Liquid Staking Derivative (LSD) and Layer 2 scaling solution sectors. Additionally, cryptocurrencies such as ARB coin and WLD attracted attention.
LSD tokens literally glowed
LSD tokens, which represent staked assets on Proof-of-Stake Blockchains, have experienced a mass rally. Lido DAO’s native token, LDO, rose 8.62% in 24 hours to $2,105. Similarly, Synthetix’s SSV token increased by a significant 17.21% over the same time frame, temporarily reaching $53.40. Other notable gainers in the LSD space included PENDLE (up 5.92%) and Rocket Pool (RPL), up 5.59%. Frax Share (FXS) also recorded a modest increase of 3.46%.
Another token worth mentioning, although definitely not part of the LSD sector, was ETHFI. It had a choppy day, briefly rising to $4.5 and then pulling back slightly. However, despite the pullback, ETHFI still managed to close the day at $4,389, up 30.01%.
Layer 2 coins surpass: ARB coin and WLD are flying
The Layer 2 scaling solution space reflected positive sentiment. Arbitrum’s token ARB has finally surpassed the critical $1 barrier for the first time since April 24. This increase was driven by a 9.73% price increase in 24 hours and pushed ARB to $1.15. Analysts believe that this increase may be linked to the recent increase in the price of Ethereum (ETH), with which ARB has a strong correlation.
cryptokoin.com As we reported, another Layer 2 token, Worldcoin (WLD), also gained a healthy 4.66% in the last day, reaching $4.93. Analysts are cautiously optimistic about the future performance of these tokens. Technical indicators on trading platforms like TradingView paint a promising picture for both ARB and WLD. ARB’s 4-hour chart reveals a potential uptrend. According to experts, the Relative Strength Index (RSI) shows buying pressure before it reaches the overbought zone.
WLD’s 4-hour chart shows a similar pattern. The $4.60 support triggered the recent rise and a potential break above the $5.21 resistance level looks likely. The Moving Average Convergence Divergence (MACD) indicator also points to bullish momentum. However, a definitive confirmation of the 12 and 26 EMAs breaking above the zero line is awaited. According to some experts, if this happens, WLD could experience a significant rise and potentially reach the 0.786 Fibonacci retracement level at $5.79.
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