Gifto price continued its bullish comeback during the weekend as the Christmas gifting period neared and after a series of partnerships. GTO price jumped to a high of $0.0243, the highest level on record. It has defied gravity and soared by more than 105% from the lowest level this year.
What is Gifto and why is it rising?
Gifto Metaverse is a blockchain project that is disrupting the gifting process. It is a gifting platform that is powered by the Gifto Wallet and Gifto Chain. Gifto Wallet makes it possible for users to create and share crypto gifts with cryptocurrencies like Bitcoin, Ethereum, and GTO. On the other hand, Gifto Chain powers the world’s first open standard for virtual gifts.
Therefore, being in the gifting industry explains why the GTO price has jumped sharply in the past few weeks. With Christmas nearing, the level of gifting is set to increase dramatically in the next few weeks. As such, projects that have a gifting angle are expected to do well.
GTO price also rose after a series of positive news about the ecosystem. In a statement, Poolz Finance announced that it had partnered with Gifto Metaverse. This means that POOLZ holders will be able to create their own blockchain gifts through the Gifto Wallet.
Gifto also partnered with Autofarm in a deal that will se the Gifto Wallet have a direct access to the AutoFarm vaults. In the announcement, Gifto hinted that it will enable staking in 2023.
Further, the network recently rebranded their platform and announced plans to launch their plans for the roadmap for next year. Therefore, GTO rose as investors wait for the next few catalysts for the coin.
GTO price prediction
The four-hour chart shows that the GTO price has been in a strong bullish trend in the past few weeks as the Santa Season nears. It has moved above the important resistance level at $0.096, which was the highest level on November 5. It remains about the 25-day and 50-day moving averages while the MACD has moved above the neutral point.
Therefore, I suspect that the coin will likely continue rising ahead of Christmas. If this happens, the next key level to watch will be at $0.03. A drop below the support at $0.020. A caveat is that GTO is a thinly token that could be highly volatile.
