Marinade (MNDE) Tops the Gainers List with Whopping 180% Increment

Marinade ($MNDE), a Solana-based liquidity staking derivative (LSD) currency, is up 160% in a weekend pump as public interest in the LSD complex develops. MNDE has increased 166% from $0.03 at the end of Friday's trading to $0.08 today. 

Stakers' Marinade Staked SOL ($mSOL) is up over 180% in the last seven days and is currently valued at $70. mSOL, on the other hand, is extremely volatile, ranging from $70 to the low $20s.

Marinade protocol, which has been in operation since 2021, has seen its TVL fall from a peak of $1.87 billion in November 2021 to barely $119 million today.

Marinade Finance Introduces TWAMM to Enhance Liquidity for Solana DeFi Tokens

LP Finance has distributed the first batch of tokens on TWAMM in cooperation with Marinade Finance, Lifinity.io, ArbProtocol, and HubbleProtocol, revolutionising liquidity provision for Solana's DeFi ecosystem.

Solana DeFi has had hurdles this year, but robust protocols have emerged and gained traction. The recent increase in the value of MNDE and other tokens suggests an increase in capital inflow. However, inadequate liquidity is a barrier to entry for larger traders.

Recognising the critical importance of resolving this liquidity issue, LP Finance and its partners have turned to TWAMM (Time-Weighted Average Price Market Making) for assistance. This unique technology allows major traders to divide their orders into smaller chunks that are executed over a set period of time. The pricing impact is greatly decreased by prolonging the execution period.

Apart from this, Marinade is also building a V2 protocol for a better user experience and smooth functioning. 

Marinade Finance has made great progress in 2023, with many initiatives and services already deployed, laying the groundwork for a thriving ecosystem.

Among the accomplishments to date are:

• Validator Dashboard: Giving users more visibility and control over their stake operations.
• The Open Doors Programme promotes inclusivity and accessibility, allowing more people to engage in the Marinade environment.
• Saga Solana Mobile Phone DApp: A user-friendly mobile application that brings the power of DeFi to consumers' fingertips.
• MNDE Allocations and Milestones Update: MNDE's foundation is being strengthened with revised allocation plans and well-defined milestones.
• Stake Pool Delegation Strategy Revamp: Improving the staking experience by using new tactics to maximise rewards and optimise stake delegation.
• Introducing directed staking for mSOL holders, which unlocks even bigger returns.

These new developments put the Marinade price into a sky-roaring position. Let's see what technical analysis has to tell for Marinade (MNDE).

Marinade Price Analysis

At the press time, Marinade (MNDE) is trading at $0.089733 with a 24-hour trading volume of $3,011,905. This is a 27.73% rise in the last 24 hours and an 185.05% gain in the last 7 days. Marinade has a market worth of $17,937,753 with a circulating supply of 200 million MNDE.

Looking at the daily timeframe, Marinade (MNDE) is highly bullish. Previously, the pattern made was a declining channel pattern which later leads to a bullish run. However, the prices have broken 3 resistance straight in just 2 weeks which is a thing of concern. 

The 50 Days MA is below the trading price which confirms the bullish pressure. The 14-day RSI is at 80 which marks an overbought region.

Source: TradingView

About Marinade (MNDE)

On Solana, Marinade is a liquid staking solution. The Marinade finance protocol allows SOL token holders to stake their tokens to hundreds of validators using an algorithm based on the Solana Foundation's delegation method meant to safeguard and decentralise the blockchain.