Despite strict regulatory monitoring, the crypto trade in Nigeria continues to flourish. Between July 2023 and June 2024, Nigeria recorded around 59 billion dollars in cryptographic trading volume, ranking second in the world in adoption of crypto, according to Chainalysis.
This makes it imperative to keep an eye closely on the assets that assets in the region have a glimpse of how traders move. Today, Edgen, over, and take the spotlight as the first three cryptocurrencies tend to Nigeria.
CLOSEREDGE (Edgen)
The recently launched Edgen token is at the top of the Nigeria trendy altcoin list today. Edgen is the native token of the network of diapers, which offers an evolutionary and decentralized infrastructure to validate evidence of zero knowledge built on the safety foundation of the Bitcoin network.
The token is negotiated at $ 0.014, down 12% in the last 24 hours. This drop occurs in the middle of a wave of sales following the project’s air card on June 2, while the beneficiaries move to take advantage of their tokens, creating a downward pressure on the price.
During the examination period, Edgen’s volume of exchanges increased by 61%, confirming the sales overvoltage. At the time of the press, this totaled $ 41.28 million.
When the price of an asset decreases while the commercial volume increases, it signals high sales pressure. This combination suggests that many Edgen traders unload the assets, triggering a larger price drop.
If this continues, the value of Edgen could fall to $ 0.012.
On the other hand, if stalls and for profit, the value of the token could close today above $ 0.016.
Overexprotocol (over)
Direction 1 (L1) is another Altcoin trend in Nigeria today. On Powers OverProtocol, an L1 network allowing individuals to execute complete nodes directly on their computers.
At the time of the press, Altcoin is negotiated at $ 0.059, down 6% in the last 24 hours. Despite the decline, technical indicators suggest that the overall feeling of the market remains optimistic.
For example, the readings of the Bbtrend indicator of the token show it by displaying a high green histogram bar during the current session, suggesting that the purchase of the momentum remains strong. This divergence between the price of the token and this indicator indicates that its recent drop in prices is only a temporary withdrawal in a greater rise.
If the purchase is strengthened and resumes on his rally, he could bounce back to $ 0.063.
However, if sales are intensifying, the value of the token could break below the support floor at $ 0.0592 and fall to $ 0.0542.
LAGRANGE (La)
The is the governance token of the Lagrange Prover Network, a Zero-Knowledge (ZK) infrastructure project. It is currently negotiated at $ 1.44 and is a trendy Altcoin to Nigeria today.
The token is down 1% modest in the last day in the middle of the larger drop in the market. At its current value, the Altcoin lies above the support floor of $ 1.45. If the request is weakening, this floor could break, giving way to additional drops to $ 1.35.
However, if demand is on the market, the price of the could correct up to $ 1.56.
The position of 3 first altcoins in Nigeria appeared today first on Beincrypto.
