Falcon Finance price jumped to its highest point since October 7 this year after the developers received a big investment, and as its total value locked (TVL) jumped to a record high. FF token jumped to a high of $0.1775, bringing its market capitalization to over $410 million.
Why Falcon Finance Token is Rising
Falcon Finance received a $10 million investment from M2 Capital, which is owned by M2 Group, a UAE-based conglomerate. Cypher Capital, another company from the UAE, also participated in the round.
The new funding came as Falcon Finance has seen strong growth in the past few months. For example, data compiled by DeFi Llama shows that the network’s total value locked (TVL) jumped to a record high of $1.97 billion. This TVL is in the form of USDf, an algorithmic stablecoins.
Falcon has recently made some major announcements aimed at growing its market share in the decentralized finance industry. For example, it launched a $10 million on-chain insurance fund to protect users.
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Also, it enabled users to mint the USDf stablecoin against tokenized US Treasuries and partnered with Chainlink to facilitate cross-chain communication. In a statement, Andrei Grachev, its founder, said:
“It is a powerful endorsement of the progress we’ve made, from surpassing a billion USDf in circulation to pioneering on-chain insurance and bridging DeFi with real-world assets.”
Falcon Finance price surged to a high of $0.1847 as investors cheered the new investment and as the crypto market rally intensified.
This surge happened in a high-volume environment, with the 24-hour figure rising to over $5.8 billion, surpassing its market capitalization of $410 million.
Most of this volume was in Binance, the biggest crypto exchange in the world. The other exchanges with substantial volume were Bybit, Bitunix, and LBank. A potential future catalyst for the Falcon Finance price will be a listing by one or more crypto exchanges.
Falcon Finance Price Technical Analysis
The four-hour timeframe chart shows that the Falcon Finance price has bounced back in the past few days, moving from a low of $0.0490 on October 11th to nearly $0.20 today.
The token has formed an inverse head-and-shoulders pattern, which often leads to more upside. It is also nearing the important resistance level at $0.1932, a level it failed to move above last week.
Therefore, the token will likely continue rising as bulls target the next key resistance level at $0.25. This rally will likely be triggered by a major crypto exchange listing.
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