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KIRA’s KEX Coin Surges 45% to New All-Time High on Network Activity

Key Takeaways

KIRA Network’s native token KEX has seen a major price surge in the past 24 hours, rising 45.67% to a new all-time high of $0.1370.

What Triggered the Rally?

The spike in KEX’s price appears to be driven by growing activity and transactions on the KIRA Network, which provides crypto-backed lending and borrowing services.

KIRA uses popular cryptocurrencies like KEX, Bitcoin, and Ethereum as collateral for loans, offering borrowers low interest rates, flexible durations, and penalty-free early repayment.

The network’s total market capitalization has also surged, reaching a current market cap of $19.57 million – up significantly from around $10 million just a week ago.

Technical Metrics Point to Further Gains

Technical indicators suggest that KEX’s price rally still has room to run higher. The coin’s Relative Strength Index (RSI) of 62 indicates a bullish sentiment, while KEX is trading above its 50-day Exponential Moving Average of $0.0861.

A 61.8% Fibonacci retracement was also completed at the $0.0878 level, which now serves as strong support for any pullbacks.

Other Cryptocurrency News in Brief

In other crypto news, #BitcoinMinetrix recently secured over $6.15 million for its presale of the BTCMTX token. The price of BTCMTX currently stands at $0.0124, and is expected to rise further as the platform launch approaches.

Additionally, #Tether has frozen 41 wallet addresses linked to OFAC’s SDN List for #Stablecoin USDT, as a precautionary measure. pic.twitter.com/EOIjneI5f3

Interested parties can learn more by visiting the official website of Bitcoin Minetrix.


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