Kamino Finance, a leader in the Solana DeFi scene, is quietly forming a cup-and-handle pattern on its charts amid Kamino crypto – JitoSOL Partnership—a classic sign of potential bullish momentum amidst market volatility.
This week was a wild ride for Kamino Finance. Their latest offering, the KMNO token, fell flat on its face, dropping -78% to $.034.
But the script flipped swiftly, thanks to a new collaboration with Solana liquid staking pool JitoSOL, elevating the token’s price to $.041.
This turbulence occurred against a downturn in the broader cryptocurrency market, which saw nearly a 10% reduction in market cap in April.
The $JitoSOL-$KMNO vault is now live. 🤝
The vault will receive 500K $KMNO and 20K $JTO over the next month. https://t.co/c1JK9nkuon
— Jito (@jito_sol) April 30, 2024
Kamino Finance Partnership with JitoSOL
Throughout April, Kamino has been actively introducing incentives targeting Wormhole, Tensor, and Zorksees holders to boost engagement and participation in its liquidity vaults.
Liquidity vaults are crucial for DeFi protocols, offering users access to deposited funds while rewarding them with fees and rewards.
According to Kamino’s dashboard, users leveraging KMNO’s liquidity vaults on Jito have slightly outperformed SOL with a +2.52% APY and weekly volumes topping $138 million.
(KMNOUSDT)
The overall trend on Kamino Finance is forming a “Cup and Handle,” which is generally considered bullish considering a broader retracement in Solana token prices.
The “cup” is formed by the rounded bottom stabilizing and rising to a previous level, forming a nearly symmetrical “U” shape. This might suggest an upcoming breakout.
There’s also a golden cross where the 20-day MA and the 200-day MA meet at $.036. We could see a moonshot if Kamino Finance can break through its $0.041 support levels.
Why Wiener AI Could Be a Better Opportunity Than Kamino Crypto in May 2024
While Kamino Finance is enjoying its moment in the spotlight, Wiener AI quietly steals the show.
Wiener AI has already amassed over $700,000 in its presale, drawing investors towards what many believe could be a more lucrative opportunity.
Imagine combining DeFi’s brains with memes’ brawn—Wiener AI’s playing that game, making a bet on the magnetic pull of AI and meme lore.
With most of its supply for presale, it has insane staking rewards and continues to showcase a commitment to building a dedicated following.
Wiener AI offers a staggering +1,800% APY in staking rewards, aiming to attract many investors.
EXPLORE: Is BTC Set for a Quiet Spring After Bitcoin Halving Event? Here’s Why Traders Eye Altcoins in Q2
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital
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