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Saros Price Rises 4% Amid Its Automated Market Maker Update

Highlights:

  • Saros price is coming back into focus after surging 4% to $0.33.
  • Saros has upgraded its publishing version, which may soon stir a rally.
  • Saros Defi TVL has surged amid rising investor confidence. 

Saros price is going strong, soaring 4% to $0.33. Saros has released an exciting update to its Automated Market Maker (AMM) by publishing version 1.2.8. This most recent upgrade is aimed at offering a more streamlined user experience along with a new package of features that will be attractive to liquidity providers (LPs) and traders.

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Some of the most interesting additions include the addition of Base Wallet support, allowing users to buy and trade without issue with one of the most popular crypto wallets. Another area that Saros is improving is the user interface (UI) with smarter interactions and a more fluid UI. These changes will simplify the experience of using LPing by eliminating unnecessary stages, making the procedure much more intuitive.

Others are a cleaner swap screen since this ensures that traders can get a complete picture of how their trade is going. To liquidity providers, smarter pool guidance and consistent step logic are available that permit more liquidity management. The update aims to make the process more precise and faster, allowing Saros users to enjoy their LPing experience.

Saros DeFi TVL and FDV

Looking at the general market data, Saros (SAROS) has been on an amazing growth trend. According to the newest statistics, the Total Value Locked (TVL) of the platform is $4.19m, and its market capitalization stands at $876.31m. Saros has demonstrated high growth over a relatively brief period, marked by a rapid price increase in the last few months, reaching a value of 0.33. Moreover, it has a Fully Diluted Valuation (FDV) of $3.338 billion.

Saros Total Value Locked: DeFiLlama

The desktop exchange volume of the platform has also been remarkable, being traded at $262.87 million over the last 30 days. It indicates that Saros is picking up momentum in the decentralized finance (DeFi) sector. Moreover, users are interested in depositing their tokens and adding to the liquidity pools. The Saros protocol is on the verge of a breakout and has a stake of $104.57 million, which is approximately 11.93% of its market cap.

Can Saros Price Breakout to $0.40?

The chart of SAROS/USD recently displayed a good short-term trend. However, its position below the $0.36 and $0.34 pauses caution, as the bulls need to overcome these resistance zones. 

Saros price
SAROS/USD 4-hour chart: TradingView

Meanwhile, it has an RSI of 51.00, which is a neutral indication and is an indication that the market is awaiting additional catalysts to either push it up or down. The trend of the MACD indicator is also promising of an upward momentum, and the blue line (signal line) is above the signal, indicating a possible bullish reversal.

Zooming out, the 4% pump looks like a classic bounce from the bottom. However, the downward 50-day SMA is acting like a gatekeeper. If Saros price smashes through it with volume, it could jump to $0.36-$0.40 next. However, if it fumbles, the support at $0.31 must hold, or the SAROS token cloud could slide to $0.28 or a new all-time low. Investors should wait for a confirmed break above $0.36 local resistance. In the long term, Saros’ recent upgrades could stir momentum,  causing a rally in the market. 

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