UXLINK rises against the trend by 30%. What are the market prospects?

2024-12-19, 08:42

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With the rapid development of information technology, social interaction and communication are gradually moving towards digitalization. From instant messaging to sharing life updates, social relationships are deeply integrated into digital scenarios. Successful social platforms of the Web2 era, such as Facebook and WeChat, benefit from strong network effects, where an increase in users drives up the platform's value. <a  rel="nofollow noopener noreferrer"  href="/web3" target="_blank" class="blog_inner_link">Web3</a>, as the next generation of the internet, emphasizes decentralization, blockchain technology, and asset ownership, providing users with a deeper digital experience. Although current Web3 applications are mainly focused on investment and speculation, the social sector, due to its powerful network effects, is likely to be the first to welcome killer applications of the Web3 era.
![](https://gimg2.gateimg.com/image/article/1734597777uxlink.jpeg)
The core functions of UXLINK are reflected in three aspects: entry, identity, and groups, achieving growth and ecosystem development through the Dapp layer, protocol layer, and infrastructure layer. The Dapp layer provides users with a seamless Web3 experience, allowing easy access to the Web3 world using MPC and account abstraction wallets, while ensuring data privacy and identity management through social graphs and zero-knowledge proof technology. Additionally, the group function allows users to create social networks based on familiar relationships and realizes the assetization of social data through Mint group IDs, promoting user growth and ecosystem expansion. The protocol layer further empowers Web3 developers by offering data monetization and a commercial closed-loop, while the infrastructure layer provides a mixed on-chain and off-chain scalable architecture for the ecosystem.
The UXLINK protocol operates on a dual-token model, where the utility token $UXUY is primarily used to incentivize community growth and interaction, while the governance token $UXLINK helps capture the platform's commercial value. Through the PoL (Proof of <a  rel="nofollow noopener noreferrer"  href="/price/link-ln" target="_blank" class="blog_inner_link">Link</a>) mechanism, UXLINK can maintain the token's scarcity value during ecosystem growth, thereby attracting more users to participate in Web3 social interactions.
According to market data from Gate.io, UXLINK is currently priced at $1.1972, with a 24-hour increase of 34.5%. UXLINK has a circulating market value of approximately $200 million, ranking 319th in the overall market. In a generally declining <a  rel="nofollow noopener noreferrer"  href="/price" target="_blank" class="blog_inner_link">cryptocurrency market</a>, UXLINK is one of the few tokens that have maintained an increase. How should one trade UXLINK in the future?
## UXLINK Market Analysis
### Trading Data:
- Latest Price: 1.1972 USDT
- 24-hour Increase: 34.11%
- 24-hour High: 1.2347 USDT
- 24-hour Low: 0.8290 USDT
- Circulating Supply: 170,000,000 UXLINK
- Market Cap: 78,339,469 USDT
- Fear and Greed Index: 87 (Extreme Greed)
Support and Resistance Levels:
- Support Level: 0.7992 USDT
- Resistance Level: 1.2393 USDT
## Trading Strategy Recommendations
### Strategy 1: Short-term Bullish Strategy
- Direction: Bullish
- Entry Price: 1.20 USDT
- Stop-loss Price: 1.15 USDT
- Target Price: 1.25 USDT
Reasons and Characteristics:
- The current market is in an extreme greedy state, usually indicating that prices may continue to rise in the short term.
- There is strong support around the price of 1.20 USDT, making it suitable for a bullish position.
- The target price is set at 1.25 USDT, close to the resistance level, making the risk relatively controllable.
### Strategy 2: Short-term Bearish Strategy
- Direction: Bearish
- Entry Price: 1.23 USDT
- Stop-loss Price: 1.25 USDT
- Target Price: 1.15 USDT
Reasons and Characteristics:
- As the current price is close to the resistance level of 1.2393 USDT, a pullback may occur.
- In an extremely greedy market sentiment, there may be profit-taking in the short term.
- The target price is set at 1.15 USDT, allowing for profit during the pullback.
## Outlook
UXLINK aims to address the issue of mass adoption in Web3, particularly by accelerating user growth and retention through familiar social interactions. In the future, as the user base of Web3 expands and ecosystem applications develop, UXLINK is expected to stand out in the social sector, bringing revolutionary breakthroughs to Web3.
Recently, as BTC surpassed the $100,000 mark, Web3 has re-entered the view of many traditional users. Applications that allow traditional users to seamlessly enter and deeply experience Web3 may take off during this cycle. UXLINK has captured the core variable of familiar social interactions, using it as a foundational logic, while leveraging low-threshold infrastructure and the momentum of Web3's breakout, showing great potential for success in this cycle.
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<div>Author: **Icing**, Gate.io Researcher
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions. Investment involves risks and users need to make careful decisions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
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