$USUAL 21.5% price surge in 24 hours reflects bullish sentiment around protocol upgrades, staking incentives, and broader altcoin momentum.
UIP-10 activation raised USL’s max loan-to-value to 86%, boosting capital efficiency.
Staking revamp via UIP-9 introduced tiered rewards for locked USUALx (up to 8× boosts).
Market-wide altcoin rotation (+3.3% Altcoin Season Index) amplified protocol-specific gains.
Deep Dive
1. Primary Catalyst: Protocol Upgrades
UIP-10 implementation (July 2) increased USL’s borrowing capacity, offering users up to 14.36% ROE through leveraged exposure to USD0++ (Usual X post).
UIP-9’s Lock & Boost (July 7) tied staking rewards to commitment length, incentivizing long-term holding:
12-month lockups now yield 8× higher USD0 rewards (Usual X post).
2. Supporting Factors: Ecosystem Growth
New uSYRUP++ Vault (July 10) partnered with Maple Finance, letting USD0++ holders earn institutional lending yields + USUAL rewards (Usual X post).
Buyback speculation ahead of July 11’s CEO Discord AMA fueled retail interest.
3. Technical Context: Breakout Momentum
RSI(7) at 74.48 signals overbought conditions but confirms strong short-term momentum.
Price cleared the $0.09 Fibonacci retracement level (50% of swing high/low), with next resistance at $0.106 (23.6% Fib).
Volume spike (+404% to $94.9M) validated the move, exceeding the 30-day average.
4. Market Dynamics: Altcoin Tailwinds
Altcoin Season Index rose 29% weekly to 31, signaling capital rotation from Bitcoin.
Fear & Greed Index at 67 (Greed) supported risk-on trading, while total crypto market cap grew +4.6% in 24h.
Conclusion
Usual’s surge combines protocol-specific upgrades with favorable macro conditions, though overbought RSI and high whale concentration (90% supply held by top 10%) warrant caution.
Will staking lockups sustain reduced sell pressure as Bitcoin tests $150K?