The price of ForTube (FOR) is up by 10% today and 25% in the past 3 days. It is also among the ‘hot’ tokens on Binance at the time of writing. What’s behind this spike?
ForTube developers also commented on the FOR price rise, tagging the growth to the launch of their new website and the project roadmap for 2024 and 2025.
Today $FOR is among the HOT tokens on @binance Let us remind you, dear @ForTubeFi supporters, last week we launched new website with elegant design and roadmap for 2024 to 2025. Check it out https://t.co/LLBE7bkIn7As we venture into #RWA to bridge DeFi and TradFi, we… pic.twitter.com/34o4g5wcXm
— ForTube (@ForTubeFi) July 30, 2024
Such growth typically brings more attention to a token since the roadmap provides more clarity to a project user. They understand the growth plan which can create positive sentiment around a token.
The project is keen on further bridging the gap between blockchain and fintech, allowing users to securely combine on-chain and off-chain assets in a unified financial report.
Is FOR Token Worth Buying? Potential ForTube Investors Must Exercise Caution
Although the price of FOR is up and looking promising, a careful look at the price action suggests investors may not want to hold the token long-term.
Read Also: Here’s When Bitcoin (BTC) Might Hit a New ATH
The token has had a lot of what looks like pump-and-dumps as the price rises and then falls back. In the past 1 week, there have been at least 3 occurrences like this.
Yesterday alone, the price rose by more than 20% but eventually closed bearish (in red). Perhaps this sort of market could be more profitable for long-term holders or those who are highly convinced about their strategies.
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