Coin Analysis Raiden Network Token (RDN)

▪️COIN NAME: Raiden Network Token (RDN)

▪️What is RDN

The Raiden Network is an off-chain scaling solution that is compatible with
ERC20 tokens and works as a layer on top of the Ethereum blockchain.
It enables fast, low-fee, and scalable payments‚ much like the Lightning
Network does for Bitcoin. The idea is to avoid ‘blockchain consensus
bottleneck’ by leveraging a network of payment channels for every transfer.

▪️UPCOMING EVENTS

Currently RDN team is working on the developer preview
and could be launching their mainnet this year, but that is
still undefined.

▪️COMPETITION

GoNetwork (GOT)
Nano (XRB)
DASH (DASH)

▪️MARKET CAP: 154M

▪️TECHNICAL ANALYSIS

In a descending channel on the daily and weekly.
Indicators are signaling that RDN is oversold, however
there is not much support around this price. Resistance
levels: 33k sats, 40k sats. Support levels: 25k sats, 17k sats.

▪️COMMENTS

I hardly see Raiden being mentioned. If you like lightning
for bitcoin, then you should look at Raiden if you like
Ethereum. A lot of ifs, but I’ll end with an AND. And it’s
undervalued

▪️AVAILABLE

Bibox
Binance
Huobi

▪️Disclaimer: Its not investment/Financial advice.We are not liable for any of your P/L. Do your own research