Litentry Price Prediction as the Polkadot Parachain Soars

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Liten­try price has done well in the past few days as investors buy the coin’s dip. LIT jumped to a high of $1.07, which was the high­est lev­el since August 10. It has risen by more than 150% from its low­est lev­el this year. Accord­ing to Coin­Mar­ket­Cap, the coin has a total mar­ket cap of more than $36 million.

What is Litentry and why is it rising?

Liten­try is a parachain that is known for it cross-chain iden­ti­ty aggre­ga­tion ser­vices. It was devel­oped on Polkadot’s ecosys­tem and actu­al­ly won slot #15 in the most recent parachain auc­tions. It raised 943,842 DOT, which is now worth more than $6 mil­lion. As part of its devel­op­ment, the devel­op­ers also launched Lit­mus, a sim­i­lar project but on Kusama. Lit­mus won slot 18 in Kusama’s auctions.

In all, Liten­try pro­vides decen­tral­ized Iden­ti­ty Aggre­ga­tor ser­vices that make it pos­si­ble to link user iden­ti­ties across mul­ti­ple blockchains like Solana and Ethereum.

Liten­try price has bounced back recent­ly as investors cheer the growth of the network’s ecosys­tem. Already, three Web3 projects have joined the net­work: Web3Go, AdMeta, and TDF Labs. Web3Go is a mul­ti-chain all-in-one data net­work that pro­vides prod­ucts like Go Ana­lyt­ics and Go ID. 

AdMeta, on the oth­er hand, is an adver­tis­ing com­pa­ny that focus­es on Web3 and the meta­verse. Final­ly, TDF Labs aims to bring more com­pa­nies to Web3.

Litentry price prediction

The dai­ly chart shows that Liten­try price went ver­ti­cal this week. As it rose, it man­aged to move above the upper side of the sym­met­ri­cal tri­an­gle that is shown in yel­low. It also moved slight­ly above the 25-day and 50-day mov­ing aver­ages. At the same time, the Rel­a­tive Strength Index (RSI) moved above the over­bought level.

There­fore, while more gains are like­ly, LIT price will like­ly pull back as buy­ers start tak­ing prof­its. If this hap­pens, the coin will like­ly retest the sup­port at $0.80 and then resume the bull­ish trend. 

Litentry price



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