Fuel Network announces an airdrop for 10% of its supply

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Dec 17 2024

FUEL-1.64%

ME-5.203%

Should l Buy FUEL?

Fuel Network Airdrop Announcement: Fuel Network is set to distribute 10% of its total supply, amounting to 1 billion FUEL tokens, starting December 19, with eligibility for users who have engaged with the network and some tokens available for newcomers, excluding US and UK residents.
Decentralization and Future Plans: The network aims to enhance decentralization by partially decentralizing transaction proposers and introducing staking mechanisms post-token launch, while also addressing challenges faced by other L2 chains in terms of centralized sequencers.

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Technical Analysis for FUEL

Technical Sentiment Analysis for Fuel Network (FUEL) As of , Fuel Network (FUEL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 4 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for FUEL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, FUEL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Fuel Network (FUEL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.000952	0.00116	0.00133	0.00153	0.0017	0.00191	0.00208
Fibonacci	0.00116	0.0013	0.00139	0.00153	0.00168	0.00176	0.00191

About FUEL

Fuel combines several innovative features in order to bring new capabilities to the Ethereum ecosystem, without making any compromises.Fuel rollups have parallelized transaction execution, native account abstraction, and support for wallets of all networks.Fuel Ignition is the fastest (>600 TPS) and least expensive (<$0.0002 min per transaction) Optimistic rollup on Ethereum. Since launch, Fuel Ignition has surpassed $400 million in total value locked (TVL). Fuel aims to transform the Ethereum rollup space by combining the purpose-built FuelVM, a highly optimized Rust-based blockchain programming language Sway, and a fully integrated tool chain Forc, Together, these enable developers to create experiences never before seen in the Ethereum ecosystem.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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