EVA (EVA Protocol) has fallen 20.54% in the last 24 hours.

Gate News Bot news, on October 29, according to CoinMarketCap, as of the time of writing, EVAA (EVAA Protocol) is currently priced at $9.22, having fallen by 20.54% in the last 24 hours, reaching a high of $13.61 and a low of $5.69. The current market capitalization is approximately $61 million, a decrease of about $15.78 million compared to yesterday.

EVAA is the first decentralized lending protocol on the TON blockchain. As a leading DeFi super layer on Telegram, EVAA simplifies the processes of earning yields, making payments, and taking loans. The protocol supports native TON assets and wrapped assets, providing a seamless user experience through Telegram mini-programs. EVAA also integrates the TON Space wallet, allowing users to manage assets directly within Telegram and offers the EVAA card to combine earning and payment.

Important news about EVA recently:

1️⃣ Attractiveness of high-yield financial products weakens Gate's EVA 7-day fixed-income financial product offers an annualized yield of up to 200%, with a total quota of 390,000 EVA. The subscription period lasts from October 10 to November 10. However, as time goes on, the attractiveness of this product may gradually diminish, leading to a cooling of investment enthusiasm and becoming an important factor in the decline of EVA prices.

2️⃣ Profit-taking pressure in the market is evident EVA experienced a significant increase over the past week, with a daily rise of up to 35.30% on October 27, and its market capitalization briefly climbed to 83 million USD. Such a rapid increase inevitably triggered profit-taking demands from investors, resulting in a substantial correction today, with a market capitalization shrink of approximately 22 million USD.

3️⃣ Increased price volatility heightens risk aversion sentiment The price of EVA has recently fluctuated dramatically, experiencing a substantial oscillation from $3.07 to $13.61 in just a few days. This highly unstable price trend may raise concerns in the market regarding the stability of the EVA project, prompting some investors to choose to avoid risks, thus exacerbating today's downward trend.

From a technical perspective, the price of EVA has shown a significant pullback after breaking new highs, and it may be forming a short-term adjustment trend. Investors should closely monitor the performance of key support levels to assess whether the current fall will continue.

This message is not intended as investment advice; investors should be aware of market volatility risks.