Binance predicts the Future of Radiant Capital’s RDNT: Bearish or bullish
One of the largest cryptocurrency exchanges, Binance BNB has finally listed Radiant Capital on its platform. This may aid in predicting the future of and what it holds for Radiant Capital’s RDNT.
- RDNT the native token of Radiant Capital put forth a yield farming for the users
- Binance has listed RDNT on its exchange
RDNT is the native token for Radiant Capital. Which is a new DeFi platform. Moreover, The platform has put forth a yield farming program for the users for the first 40 days. Specifically to incentivize early adoption and encourage liquidity on the platform.
Yield farming is a process of providing liquidity to a DeFi platform, where users can earn additional tokens, As for RDNT, Binance users may stake their TrueUSD (TUSD) and Binance Coin (BNB) in different mining pools, and in return, they will earn RDNT tokens as rewards.
Will RDNT benefit from the Binance listing?
Investors may get attracted to the build-up hype surrounding RDNT listing on Binance. Not only that the availability of yield farming as well, will make users accumulate more RDNT tokens, Leading to higher demand and price, consequently.
However, the launch of RDNT and its subsequent availability to the market may lead to an increase in its circulating supply. This may limit the price growth of the token.
Interestingly, over 18% of the total supply of the token is in circulation currently. Additionally, the supply of RDNT is also increasing for the last four weeks which indicated the drop in relative weighted sentiment. The weighted sentiment peaked on 24th March and dropped back again to its lower range.
Despite that, the trading of RDNT is at its highest level ever since the launch. Apparently, this could be attributed to the recent listing of RDNT on Binance. Making it easier for the investors to trade the token. Though is yet known how all these factors will affect the price of RDNT.
The daily active addresses also witnessed a spike recently. Ever since 12th March, the RDNT has seen a 98% increase in its price. The current price of RDNT is $0.366799.