The native token for BSC (Binance Smart Chain) and Ethereum (ETH) DeFi TITAN TITAN (TITAN) has boomed by over 35% over the past 24 hours to lead the crypto market's bullish week.
Brief Analysis
Before going into the brief analysis of the trend for TITAN, it is first needed to be told that the following trends come from the exchange Huobi, traditionally done with Binance. TITAN was first listed on Huobi on the 24th of September, 2020 for the TITAN/USDT (Tether) pair, so there would not be a full year trend available, though there would be enough for a satisfactory analysis.
The year trend for TITAN begins slowly over the beginning months. It does not follow many top capped cryptocurrencies, such as Bitcoin (BTC) and Etherum (ETH), by not having a bullish run from the beginning of January/February, remaining under the radar at the start of 2021, Towards the end of February, TITAN comes into a bullish run that quickly dissipates over the turn of March, continuing on its low price of about $1. The fact that TITAN was consistently staying around the $1 mark in a sense indicates that TITAN is stable, its price predictable is not volatile. However, at the start of April, the stability of TITAN breaks as it begins a strong bullish run. It explodes Mid-May to over $6, quickly following down to about its original position of ~$2.50. TITAN recovers over the following days and meets another bullish run within the first days of June, curving straight up to over $5. TITAN then tumbles down, meet some resistance to spike close to its predecessor, but fails to hit resistance, continuing its fall. Within the first days of July TITAN moons quickly upwards, going from around $3 to over $8, appearing unnatural and bringing up thoughts of a crash soon to follow, the euphoria of TITAN fading away.
Switching over to the monthly trend of TITAN, it appears relatively stable overall. From the beginning TITAN has a bullish moment that results in a small net gain, thereon having a strong resistance between $3 and $5, having some spikes along the way. From the beginning of July TITAN begins to break the resistance zone, rushing up to its current price of around $8. Interesting TITAN has made a strong resistance after spiking at about $8.40 for the past few hours, the recent moon of TITAN possible to last longer.
Going into the day trend for TITAN, the resistance previously mention becomes much more prominent. The first hours of the day in UTC (Coordinated Universal Time) have a fairly slow movement, but from about 9 am TITAN zooms by over 35% to spike at its ATH (All-Time Highest) around $8.30. Thereon is the strong resistance, lasting for almost 10 hours, with little strong movements along the way. Such a strong resistance is unnatural with crypto (excluding stablecoins) and it rouses questions of such a trend for TITAN.
For the top 100 cryptocurrencies according to market cap, TITAN comes in a strong lead for the top week gainers at 144.2% at the time of writing.
The statistics of TITAN at the time of writing are as follows:
- Price - $7.94
- 24h Trading volume - $10,420,914
- 24h low / 24h high - $5.72 / $8.35
- Market cap -$794,326,955
- Market dominance - 0.05%
- Market rank - 87th
Looking Into TITAN
TITAN is the native token of the BSC and ETH DeFi TITAN. It originally only supported ETH, but last week added support for BSC. Such support may have been a catalyst for TITAN's strong weekly gain, the BSC knew from the vast variety of DeFis it runs that have astounding gains associated to draw in crypto investors. The announcement is shown below and can be visited here: https://app.titanswap.org/notice/1006.
TITAN detail into their service and purpose on their launch page, going as follows:
TITAN is a blockchain based decentralized financial center that provides optimal liquidity solutions for different digital asset category by adaptive bonding curve. It not only provides a user-centered decentralized exchange, but also it is an aggregated liquidity pool that supports order smart routing.
The adaptive bonding curve that TITAN mentions is unique, a feature not met frequently across DeFis. TITAN's whitepaper details the adaptive bonding curve of their liquidity pools. They mention that it 'combines greater liquidity with better price discovery by automatically adapting the bonding curve to different asset classes.' What this means is that the liquidity mechanism that TITAN has changed with each asset, the main one most likely between stablecoins and other cryptos since stablecoins are designed to have stable prices, and so are no vulnerable to impermanent loss. The liquidity mechanism changes the price of a trade within a pair to reduce the risk of impermanent loss by ensuring the requested amount is close to the original amount in the LP that will differ between each pair with TITAN. This is shown in the chart below between two different cryptocurrencies being X and Y coming from Paradigm Research.
The TITAN website contains an innovation section that lists the special features of its DeFi, going as follows:
- TITAN Automated Order - make orders of a trade for a certain price, similar to limit trading on a crypto exchange
- TITAN Smart Route - TITAN automatically selects the best options of LPs across multiple main networks with more trading pairs and smaller slippage
- TITAN Adaptive Bonding Curve - combines greater liquidity with better price discovery across different asset types
- TITAN Address Audit - pinpoints the address of a token contract via CoinGecko in a trading pair to avoid any scam coins
- TITAN Layer2 Support - leverage Layer2 protocol before Ethereum 2.0 (ETH 2.0) to improve TITAN's move into ETH 2.0
- TITAN DAO - contains a voting system that is run by its users with power based on who owns more TITAN, making it a governance token
TITAN contain a variety of partners that are shown below, though none are recognised as popular ones.
Further Reading
TITAN - Homepage - https://titanswap.org/#/
TITAN - TITAN Whitepaper - https://titanswap.org/TITAN-Whitepaper-en.pdf
Binance Academy - Impermanent Loss Explained - https://academy.binance.com/en/articles/impermanent-loss-explained
Paradigm Research - Understanding Automated Market-Makers, Part 1: Price Impact - https://research.paradigm.xyz/amm-price-impact