Here is another chance to get hold of the BENQI token as the company launches the second phase of its Avalanche Rush initiative.
This follows the success of the first phase of the project, which gave BENQI’s lending product positive publicity. This success has been showcased by the crypto loans that have been disbursed, totalling more than $1billion. The user base of BENQI has also grown to more than 14,000.
Building on this success, the second phase of the Avalanche Rush initiative is being launched. Scheduled to last for 45 days, the second phase of the Avalanche Rush initiative will see about $4million provided as AVAX incentives to users that trade QI and AVAX crypto markets.
BENQI is a liquidity protocol that bridges DeFi and institutional networks, working uniquely on the Avalanche C-chain network.
After a massive correction from the all-time highs attained on 23 August, the BENQI token recently tested all-time lows at the 0.08750 price mark (19 August high). It looks set for another retest of that level following Monday’s slide. A bounce on that price level creates a potential opportunity for fresh demand to enter the token. This could spur a bullish run towards 0.13959 (22 September high) and 0.15488 after that. If the advance continues, the resistance zone between 0.l2395 and 0.22900 becomes the new target.
Conversely, a decline below 0.08750 pushes the QI/USDT pair to multi-month lows, targeting 0.04613 initially (20 August low) and 0.00804 (19 August low).
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