One of the leading crypto exchanges, KuCoin, has enabled staking for two crypto assets – Sei (SEI) and Celestia (TIA).
This development offers investors an innovative avenue to generate passive income through staking rewards.
How KuCoin’s SEI and TIA Staking Support Will Impact Prices
The inclusion of SEI and TIA in KuCoin Earn’s staking portfolio diversifies the options available to investors. With an expected Annual Percentage Rate (APR) of 3% for SEI and a more enticing 11% for TIA, these assets present varied prospects for earning potential tailored to meet the risk tolerance and investment strategies of a broad spectrum of investors.
However, it is crucial for participants to recognize that staking, like any investment, carries inherent risks. KuCoin has urged investors to assess the risks involved in staking thoroughly.
“KuCoin Earn is a risk investment channel. Investors should be sensible in their participation and be aware of investment risks,” KuCoin warned.
Read more: 10 Best Crypto Staking Platforms You Can Trust (2024 Edition)
Despite the risks, TIA presents a compelling narrative from a technical perspective. The altcoin is currently priced at $17.78 and exhibiting a Volatility Contraction Pattern (VCP) on the daily chart. This pattern, indicative of decreasing price volatility and narrowing trading ranges, often precedes significant price movements.
The VCP’s neckline stands at $18.5. The analysis predicts a substantial price surge for TIA, potentially by nearly 30% to $23.35, should the demand for staking catalyze a breakout beyond this neckline.
Conversely, SEI’s price trajectory is encountering resistance at a crucial trendline extending from the highs of January 2024. For SEI to embark on an upward trend, it is imperative for it to achieve a daily close above this resistance, backed by significant trading volume.
It is worth noting that SEI has found robust support at the $0.58 level. A breach below this point could signals a downward price movement toward $0.45.