RCO Finance (RCOF) Sees More Inflows as Dogecoin (DOGE) Shorts Rise as Whats Going On?
Dogecoin (DOGE) experienced an increase in short positions as its price hit a three-month low of $0.12 in mid-June. This decline has triggered a series of long liquidations, leading to increased bearish sentiment among traders.
Amidst this, RCO Finance (RCOF) attracts attention with a unique platform that integrates real-world assets, allowing for seamless portfolio diversification and reducing cryptocurrency volatility.
Dogecoin Faces Heavy Short Selling Amid Price Decline
Dogecoin has dropped over 13% in the past week. It was trading around $0.12 in mid-June, a three-month low. As a result, it triggered a series of long liquidations totaling over $44.21 millionthe highest seen this year.
Thus, derivatives traders open more short positions, betting on further price decreases. This is evident as the funding rate for Dogecoin across cryptocurrency exchanges has remained negative at -0.003%.
In futures trading, a negative funding rate indicates that traders holding short positions pay a fee to those holding long positions.
Technical indicators also paint a bearish picture for Dogecoin. Technical indicators show DOGE has fallen below its 20-day EMA and its 50-day SMA, increasing selling pressure. This has created fear for those, who have closed the long positions and opened the short positions.
Also, the Elder-Ray Index, which measures the strength of buyers and sellers in the market, has shown a negative value of -0.023. This continued bearish momentum suggests that Dogecoins price could drop to around $0.11 if the selling pressure persists.
RCO Finance Makes It Easier to Diversify Portfolio
Amid DOGEs rising short positions, RCO Finance is capturing attention with its innovative DeFi solutions. The token sale is in its first stage, offering RCOF tokens at $0.01275 each.
RCO Finance integrates real-world assets into its platform, allowing traders to convert cryptocurrencies into tradfi instruments like ETFs, derivatives, and bonds. As a result, you can diversify your portfolio smoothly and reduce the volatility of cryptos.
Users benefit from a unified interface for managing diverse assets, ensuring convenience and control while bridging the gap between digital and tradfi for smarter decisions.
What sets RCO Finance apart is its advanced AI-powered trading platform. AI empowers it to optimize across various asset classes, including cryptocurrencies, stocks, ETFs, and bonds.
For example, if youre interested in Apple (AAPL) shares, the platforms AI can analyze market data to recommend the optimal buying and selling times. Thus ensuring you maximize your returns while managing risk effectively.
In addition to its AI capabilities, RCO Finance allows trading without KYC requirements, provides high leverage options up to 1:1000, and includes a debit card for easy fiat conversions.
RCOF Sees More Inflows as Token Sale Gains Momentum
RCO Finance is experiencing significant inflows as its token sale progresses through various stages, each with increasing prices. Currently, 28.84% of the tokens have been sold, raising over $360 thousand in Stage 1.
As the sale advances to Stage 2, the price will rise to $0.0343 per token, followed by $0.0558 in Stage 3. Eventually, it is expected to list at prices between $0.4 and $0.6. By the time of listing, early holders could see gains of up to 3000%.
RCO Finance generates income through a 1% buy tax and a 4% sell tax, trading fees, and debit card usage fees. Traders should hold the RCOF tokens to receive dividends. The dividends will be based on the holding; i.e., a user holding fewer RCOF tokens will receive fewer rewards than high holders.
Additionally, SolidProof has audited the smart contract for potential vulnerabilities, providing greater trust and confidence in the project. Furthermore, RCOF token holders benefit from passive income opportunities through staking and discounted transaction fees.
For its features, long-term potential, and capacity to yield high returns, RCO Finance and its native token, RCOF, could be a once-in-a-lifetime opportunity.
For more information about the RCO Finance Presale:
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Disclaimer: This is a sponsored article, and views in it do not represent those of, nor should they be attributed to, ZyCrypto. Readers should conduct independent research before taking any actions related to the company, product, or project mentioned in this piece; nor can this article be regarded as investment advice. Please be aware that trading cryptocurrencies involve substantial risk as the volatility of the crypto market can lead to significant losses.
Text source: ZyCrypto
