OpenLedger is launching a token return program for his native coin open. The project will use business income to buy back its tokens and to strengthen the liquidity.
Summary
- The OpenLedger Foundation announced a return program for its open token, funded by its business income to stimulate liquidity.
- After the news was broken, open from $ 0.47 to $ 0.53, broke over his 30-day advancing average and showed Bullish Momentum, with RSI measurements that suggest further upside down.
According to a recent message on X, the OpenLedger Foundation has announced plans to initiate a repurchase program to support his native token, open. The initiative will be immediately financed with the help of the stream “Enterprise Revenue” from the foundation.
“This return initiative will be powered by business income. $ Open will be purchased from the market to strengthen liquidity, improve trust and support sustainable growth in the ecosystem,” the team said through his X after.
Although the OpenLedger Foundation still has to reveal when the return program will start and how much the project will choose to invest, the AI blockchain firm claimed In a previous post in August it has a income flow of $ 14.7 million from global Enterprise projects.
The decision of the project to start a token -return program to stimulate the liquidity of the token and the price reflects similar initiatives in the crypto space that are underway. Only a day earlier, Sui (SUI) announced that it would collaborate with Ethena (ENA) to launch a joint stablecoin called Suig, with his income used to buy back sui tokens.
Earlier in September, several network said it would launch a token -wap program for its damaged MTP -token and a $ 1 million in return to buy back his native token within the next 12 months.
Aster CEO Leonard also expressed the willingness for the project to buy back his Astertokens using a “flexible” schedule that would usually be determined by the operators and the community. He said that the team “would like to keep some flexibility in how all this income is invested.”
OpenLedger Price Analysis
The announcement of the Buyback program of OpenLedger led to a sharp upward move for token and, according to TradingView, jumped from $ 0.47 to $ 0.53 within just a few hours within a few hours within just a few hours facts. This jump coincides with an increase in volume and a break above the progressive average of 30 periods, which indicates a shift in market sentiment.
The relocation suggests that traders regard the buyback program as a bullish development and strengthen confidence in the project.
The 30-day advancing average of open at $ 0.478 acted as a dynamic resistance during the long-term downward trend from mid-September to the end of the month. This cross -over indicates a potential trend removal, especially because the price now remains on top with some stability
Moreover, the relative strength index has also risen to around 64, with bullish momentum without still entering territory. This indicates space for further heading when buying pressure continues. The RSI peak reflects renewed interest, because investors expect that reducing circulating delivery by return will create a favorable dynamic of the delivery.
Although the price reaction shows strong signs of a rally, it will hang how aggressively and consistently the foundation performs the program. If the momentum applies, the topping of open ledger could test the $ 0.60 resistance zone, but not maintaining the purchasing pressure, the token can re -test the support region of $ 0.50 to $ 0.47.
If its open position can retain its position above $ 0.47 to $ 0.48 MA zone, this will strengthen the case for a sustainable recovery that is powered by the return announcement. On the other hand, a demolition under the Ma would suggest that the rally will fade quickly without further action.
