When it comes to altcoins, Linear (LINA) has turned out to be one of the strongest competitors for decentralized finance projects based on the Ethereum network. At present, all the DeFi projects being run on the Ethereum-based platforms are plagued by high gas fees for transactions.
However, LINA has started gaining a lot of success and user-base in the last month. There are several on-chain data analyzing firms currently observing and monitoring the market situation of LINA. Some of the major firms currently paying very close attention to these firms include TradingView and Cointelegraph Markets.
The data gathered by the firms goes onto show that the price of LINA on January 13, 2021, was trading at $0.0135. They have also shared that on January 13, 2021, the 24-hour trading volume for the token was $2.3 million.
However, the LINA token has gained a lot of growth and surges with respect to its price and in a matter of a month, it gained a 750% increase. As of February 12, 2021, the price of the LINA token is hovering at $0.10.
It has been revealed that originally, LINA was a project that was based on the ERC-20 platform. However, in the middle of January 2021, the platform announced that it was going to shift its protocol over to the Binance Smart Chain. The firm announced that it was doing it before its mainnet launch that was due on January 28.
On the same day of its mainnet launch, the developing team working on the LINA project announced the release of another product. On the launch of the mainnet, the firm announced that it had also released the Linear Exchange. Linear (LINA) executed this in order to establish itself as a decentralized finance protocol that offered all-in-one services to its users.
On the very next day of the mainnet launch, the price of LINA on January 29, 2021, was sitting at $0.034. Until February 8, 2021, the price of LINA had surged and it went all the way up to $0.082. The firms show that the project experienced a trading volume of $1.56 billion in the last 24 hours on the very same day.
Apart from transitioning to Binance Smart Chain, the platform also managed to gain attention from many investors. The on-chain firms show that the history of the Tweets on the protocol’s account shows that it received a lot of feedback from big-time investors.
The reporting firms show that LINA has started building up a very decent and strong list of investors. On top of that, the platform has made many effective and efficient integrations that have brought the protocol to where it is today.
One of the major integrations that the platform currently has is the Band Protocol (BAND).