Renewed Interest in Made in USA Coins Amid Political Climate
Three cryptocurrencies—Worldcoin (WLD), Jupiter (JUP), and EOS—are capturing attention once again as former President Donald Trump suggested a significant 50% tariff on the European Union starting June 1. Leading the charge is WLD, which has experienced a remarkable 37% increase following a substantial $135 million token sale to a16z and Bain Capital Crypto. JUP is also performing well, showing nearly a 7% gain amid important announcements related to its ecosystem. Conversely, EOS is facing challenges in maintaining its recent gains, particularly after a contentious $3 million acquisition by World Liberty Financial raised eyebrows and sparked debate within the crypto space.
Worldcoin (WLD)
Worldcoin has seen a 37% surge over the past two days, reaching a three-month peak after successfully raising $135 million through a direct token sale to a16z and Bain Capital Crypto. This makes WLD the top-performing token among Made in USA cryptocurrencies recently. The funding, which was structured as a market-priced token purchase rather than a conventional venture capital round, significantly increased WLD’s circulating supply, evidenced by a rapid $135 million uptick in its market capitalization shortly before the sale was announced. The capital raised will be allocated towards expanding biometric identity initiatives in the U.S., especially after facing regulatory hurdles in Europe and Africa.
WLD Price Analysis
According to TradingView data, there is a clear indication of increasing buying pressure for WLD, which enhances the potential for the token to challenge the resistance level at $1.64. Should it overcome this threshold, WLD might surpass $1.70 for the first time since late January. However, traders are advised to keep a close watch on the support level at $1.36; a drop below this could lead WLD to retrace towards $1.17 or, in a more severe correction, even $1.05.
Jupiter (JUP)
Jupiter is bucking the overall market trend by climbing nearly 7% in the past 24 hours while many major tokens are on a downward trajectory. This uptick coincides with a week of heightened activity for the Jupiter ecosystem, highlighted by the launch of its mobile app, a strategic collaboration with Moonpay, and the rollout of Jupiter Lend. Nevertheless, JUP is still trading below a critical resistance level at $0.635, which it recently struggled to break.
JUP Price Analysis
TradingView insights suggest that a successful retest and breakout above the $0.635 level could set the stage for a rise towards $0.84, with the potential for a significant upward trend that might even challenge the $1 mark for the first time since February. Conversely, if the momentum wanes and JUP falls to test support at $0.52, breaching this level could lead to a more pronounced decline toward $0.465. In a worst-case scenario, the token could drop to levels of $0.40, $0.348, or even $0.30, making this breakout attempt a pivotal moment for bullish traders.
EOS
Recently, World Liberty Financial (WLFI) stirred controversy within the crypto community by purchasing $3 million worth of EOS tokens, a move that raised concerns about potential market manipulation, especially given WLFI’s reported $125 million loss from selling ETH at a three-month low. Despite the skepticism surrounding this purchase, no solid evidence of wrongdoing or insider trading has surfaced. Interestingly, following the acquisition, EOS saw a brief rally of over 9%, which has led to ongoing discussions about whether WLFI’s actions were well-planned or merely coincidental.
EOS Price Analysis
Despite the initial surge, EOS has struggled to maintain its upward momentum and is currently down nearly 10.5% over the past week. The token recently faced resistance at $0.79 and is now at risk of further declines. If the bearish trend continues, EOS may test the support level at $0.72; falling below this could trigger deeper declines towards $0.652 and $0.583. On the other hand, if EOS can regain momentum and break through the $0.79 resistance, it might aim for higher targets at $0.869 and potentially $0.97, although such a move would require a significant market reversal.
Disclaimer
In accordance with the Trust Project guidelines, this price analysis is intended solely for informational purposes and should not be interpreted as financial or investment advice. BeInCrypto is dedicated to providing accurate and impartial reporting, but market conditions can change rapidly. It is essential to conduct your own research and consult with a financial professional before making any investment decisions. Please be aware that our Terms and Conditions, Privacy Policy, and Disclaimers have been recently updated.
