Developer of This Altcoin Fails to Honor Project Commitment: Plans to Mint More Tokens
Token Supply Increase Proposal: Nick Forster, co-founder of Derive, has proposed a 50% increase in the supply of the DRV token by minting 500 million new tokens to support ecosystem growth and institutional partnerships, with existing investors facing a maximum dilution of 8.25% per year over four years.
Allocation and Market Strategy: 46% of the new tokens will be allocated to the core team with a four-year vesting period, contingent on DRV's market cap exceeding $150 million, as Derive aims to compete with market leader Deribit following a recent partnership for institutional-grade liquidity services.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR) As of , Major (MAJOR) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 0 indicators are flashing buy, while 5 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0609 | 0.0686 | 0.0774 | 0.0851 | 0.0939 | 0.102 | 0.11 |
| Fibonacci | 0.0686 | 0.0749 | 0.0788 | 0.0851 | 0.0915 | 0.0954 | 0.102 |
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