Cardano

Thrupenny

Polygon

Daily

Coin

<ul>
 <li>TPY’s price increased by 19.81% in the last seven days, hinting at a new high for the token.</li>
 <li>Thrupenny got the attention of HTX Global and got TPY listed on the exchange.</li>
 <li>If bulls continue the buying spree, then TPY may approach $5 in the short to mid-term</li>
</ul>
<p>At a time when many altcoins are correcting, <a href="https://coinedition.com/thrupenny-tpy-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Thrupenny (TPY)</a> has shown that it may be able to withstand any storm the crypto market faces. In the last seven days, the price of TPY has increased by 19.11%. The last 24 hours have not been so rosy as the cryptocurrency value dropped to 2.76%, <a href="https://coinmarketcap.com/currencies/thrupenny/" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> showed.</p>
<p>This decrease came at a time when the broader market was facing some challenges due to the <a href="https://coinedition.com/zhao-pleads-guilty-steps-down-as-binance-ceo-in-4-3bn-settlement/" target="_blank" rel="noopener noreferrer nofollow">sanctions</a> Binance got from the U.S. Department of Justice (DOJ). When compared to the top tokens like Cardano (ADA) and Polygon (MATIC), TPY seems to weathering the storm better.</p>
<h2 class="wp-block-heading" id="h-tpy-declines-plunging">TPY Declines Plunging</h2>
<p>For instance, ADA’s price decreased by 5.12% while MATIC’s value dropped by almost 7% within the same period. For Thrupenny, one of the reasons it was able has been able to stay strong is its fundamentals.&nbsp;</p>
<p>Another ground for its impressive growth is its community. Since its launch, the TPY community has always rallied around decisions taken by the project.&nbsp;</p>
<p>Unlike other relatively new projects, the Thrupenny protocol understands the power of liquidity provision (LP) in the Decentralized Finance (DeFi) space. The project also explained this in its <a href="https://medium.com/@thrupennyprotocol/the-power-of-liquidity-provision-in-defi-fc3e50d1886d" target="_blank" rel="noopener noreferrer nofollow">blog post</a> posted on November 21.</p>
<p>“The influence of liquidity provision in<a href="http://thenewscrypto.com/tag/defi/" target="_blank" rel="noopener noreferrer nofollow"> DeFi</a> is a cornerstone of Thrupenny’s triumph. Users contributing to the platform’s liquidity not only enjoy enhanced trading efficiency but also access a realm of yield farming opportunities and community-driven decision-making”, the blog post read.&nbsp;</p>
<p>Because of this and more, Thrupenny got the attention of HTX, the international digital asset exchange. In return, the exchange listed the TPY token. As Coin Edition, previously reported, HTX now holds Thrupenny in high esteem since it won in the #Primevote9 challenge.</p>
<h2 class="wp-block-heading" id="h-bullish-for-the-mid-term">Bullish for the Mid-Term</h2>
<p>At press time, TPY’s price was $0.83. The TPY/USDT daily chart also showed that the market was still in control of bulls. While there was a slight sell-off, it was minute compared to the buy orders (indicated by the large green bars), TPY has had.</p>
<p>Furthermore, the Exponential Moving Averages (EMAs) signaled that the drawdown in price does not mean that the token has ended its uptrend. At the time of writing, the 20 EMA (blue) was above the 50 EMA (yellow).</p>
<p>As a common trading strategy used for the mid-term, the EMA positions mean TPY’s market structure may remain bullish.&nbsp;</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/ZHPDcPz9sYUEXQhvxssbrMevgJvqnJfhzdHExe6p517r6yPULWkdcPk4twoippEu4PW_qjWQdJqE_JJO-Ufmr4hIEY6sYjLRcXdcgz10jQk4GhKjTIdSk2Rjd-hnpaB_7R9QgYaeg2GHUAB0CNEUsL8" alt="">
  <figcaption class="wp-element-caption">
   TPY/USD Daily Chart (Source: <a href="https://www.tradingview.com/x/PDPkGD44/" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
  </figcaption>
 </figure>
</div>
<p>Considering the current price action, it might be in traders’ best interest to desist from opening short TPY positions. If not, there is a chance that they could be liquidated.&nbsp;</p>
<p>Going forward, TPY’s price has the potential to reach new highs. Should the buy orders continue in droves, then one cannot exempt TPY from potentially reaching $5 for a start.</p>

TPY Dives Deep Into DeFi as HTX Listing Drives Another High

Table of Contents

TheNewsCrypto

Other articles published on Nov 23, 2023

Valobit (VBIT) Price Prediction 2024, 2025, 2030, 2040, and 2050

Mint Marble (MIM) Price Prediction 2024, 2025, 2030, 2040, and 2050

Arbitrum: Signs of a Reversal and Potential Price Explosion

BlackRock’s Bitcoin ETF Bringing New Impulse For Ripple (XRP), Cardano (ADA) and Dogecoin (DOGE)

5 New Crypto Launches to Watch as Bitcoin ETF Token Raises $1.3M

November scores exploiters $290m over 5 major crypto hacks

Join our free newsletter for daily crypto updates!