Is Serum (SRM) buy opportunity after the price collapsed?

Serum SRM/USD has collapsed from $13.71 to $1.65 since September 11, 2021, and the current price stands at $2.40.

Technically looking, SRM remains in a bear market, but the current price could be a good entry point for long-term investors.

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Decentralized exchange

Serum is a decentralized exchange (DEX) and ecosystem that brings unprecedented speed and low transaction costs to DeFi while remaining fully trustless and transparent.

Most DeFi protocols are slow and expensive, but Serum is different; it has cross-chain support, stablecoins, wrapped coins, order books, and the ability to create custom and novel financial products.

Users can submit orders with prices, sizes, direction and have full control over their trading via Serum’s automated on-chain limit Order Book. Serum team added:

Serum implements order books between tokens, and because of its cross-chain support, it also has ETH and BTC order books. These order books are not centrally controlled; they are fully programmatic and will automatically match orders between third-party users.

Serum is also made for growing industries like gaming, and it is preparing to meet the demands of a larger and more diverse group of users.

Serum is built on Solana, but it is important to say that existing DeFi projects can access Serum’s features directly from their native blockchain.

SRM is the utility token of the Serum ecosystem, it is the preferred form of payment for transfer fees, and users can spend SRM to enable reduced fees on Serum’s exchange.

SRM can be staked on a node, and some parameters without large security risks may be modified via a governance vote of SRM tokens.

The current price represents a good entry point for long-term investors

Serum (SRM) has experienced tremendous growth in its user activity since the beginning of the 2021 year, and the price of SRM has reached levels above $13 in September 2021.

Since then, the price has weakened, daily trading volume remains weak; still, Serum is a project that has a future, and the price of SRM could advance again to levels that we saw in September 2021.

The current price represents a good entry point for long-term investors, and f the price jumps above the $5 resistance, the next price target could be around $8 or even above.

Summary

Serum is a decentralized exchange that was built on Solana and allows traders to sell or buy cryptocurrencies. SRM is the utility token of the Serum ecosystem, and the price of SRM could advance again to levels that we saw in September 2021.

Where to buy right now

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