Layer3 Unveils L3 as Default Currency for CUBE Credential Minting

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Oct 30 2024

Should l Buy L3?

Layer3 Integration: Layer3 will integrate L3 as the default currency for all platform activities starting in November, aiming to enhance user engagement and streamline operations across over 30 chains. This transition includes benefits like 0% trading fees on L3-denominated pairs and automatic conversion of rewards into L3 tokens.
Vision for Inclusivity: Layer3 plans to adopt a fully permissionless model, allowing teams and individual creators to access its distribution network using L3 as an access key, thereby fostering ecosystem growth and aligning value with protocol success.

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Technical Analysis for L3

Technical Sentiment Analysis for Layer3 (L3) As of , Layer3 (L3) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for L3 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, L3 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 $-.

Layer3 (L3) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	0.00152	0.00421	0.00636	0.00905	0.0112	0.0139	0.016
Fibonacci	0.00421	0.00606	0.0072	0.00905	0.0109	0.012	0.0139

About L3

A total supply of 3,333,333,333 L3 tokens One unified staking mechanism with three layers of rewards (called Layered Staking) Two burn mechanismsLayered Staking: By staking on Layer3, users can earn passive yield (L3) proportional to the amount staked. Additionally, by staking and actively using Layer3, users will earn other governance tokens (e.g., OP, ARB), increased utility, and L3.Burn mechanisms: Communities buy & burn L3 tokens to access the Layer3 network to post quests, deploy incentives, and access CUBE credentials. CUBE credentials are unique digital identifiers verifying a user's omnichain achievements, and are used to target specific users with incentives. Users can burn L3 tokens to access perks across the partner ecosystems, including early access, fee discounts, exclusive NFTs, and more.Full tokenomics can be found at docs.layer3foundation.org/tokenomics.

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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