EVA (EVA Protocol) fell 36.07% in the last 24 hours.

Gate News Bot news, on November 4th, according to CoinMarketCap data, EVAA (EVAA Protocol) is currently priced at $3.64, having fallen 36.07% in the last 24 hours, with a high of $12.39 and a low of $3.58. The current market capitalization is approximately $24.1 million, a decrease of about $13.6 million compared to yesterday. Currently, EVAA ranks 726th in global Crypto Assets market capitalization.

EVAA is the first decentralized lending protocol on the TON blockchain. The protocol supports TON native and wrapped assets, providing users with convenient Crypto Assets lending, yield, and payment services through a Telegram mini-program. EVAA has secured over $2.5 million in investment from well-known institutions including Animoca Ventures and TON Ventures.

Important news about EVA recently:

1️⃣ The pressure of significant market correction continues The price of EVA has experienced significant fluctuations over the past week, falling from $9.22 on October 29 to $3.64 today, a decline of as much as 60.52%. This ongoing downward trend reflects a weakening market confidence in the EVA project, with investors accelerating their exit.

2️⃣ Short-term speculation frenzy subsides EVA saw a single-day increase of 35.30% on October 27, with its market capitalization briefly rising to 83 million USD. However, this rapid increase may have been primarily driven by short-term speculative activities. As profit-taking began, the price of EVA started to decline significantly, and its market capitalization has now shrunk to 24.1 million USD, a reduction of about 71% compared to its peak.

3️⃣ Attraction of high-yield financial products declines The EVAA 7-day fixed investment product previously launched by Gate Yubi Bao has an annualized return rate of up to 200%, with a total limit of 390,000 EVAA. As the subscription period (from October 10 to November 10) comes to a close, the attractiveness of this product for new funds may have significantly decreased, further exacerbating the selling pressure on EVAA.

From a technical perspective, the price of EVA has fallen below several important support levels and is currently likely in an oversold area. However, considering that market sentiment remains bearish, EVA may still face further downside risk in the short term. Investors need to closely monitor changes in the project's fundamentals to assess whether the current price adequately reflects EVA's actual value.

This message is not intended as investment advice; investors should be aware of market volatility risks.