A web3 decentralized social network altcoin printed a new all-time high on Friday, defying the ongoing crypto market doldrums.
CyberConnect (CYBER) aims to enable developers to create social apps where users own their digital identities and data.
The project’s native asset, CYBER, ripped to a new all-time high of $15.36 at one point on Friday. The 179th-ranked crypto asset by market cap is trading at $14.68 at time of writing, up from $3.59 one week ago, a staggering 308.9% increase. CYBER is also up nearly 77% in the past 24 hours alone.
It is not entirely clear what is driving CYBER’s massive gains, though Binance, the top global crypto exchange by volume, did roll out trading services for the asset earlier this month.
Binance also kicked off a “Simple Earn CYBER Quiz Promotion” earlier this week. The first 45,000 Binance customers who read an article on CYBER and complete a quiz with all the correct answers will receive 0.25 CYBER in a 150-day locked products position.
Binance locked products provide rewards in exchange for assets being committed for fixed terms with predetermined redemption dates. The promotion, which runs until September 12th, is only available to customers who’ve never subscribed to Binance’s Simple Earn locked products before.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxCheck Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Web3 Social Network Altcoin Skyrockets by More Than 308% This Week, Defying Sideways Crypto Market appeared first on The Daily Hodl.
