Web3 Altcoin Social Network Soars Over 308% This Week, Challenging Sideways Crypto Market

A web3 decentralized social network altcoin recorded a new all-time high on Friday, defying the ongoing cryptocurrency market crisis.

CyberConnect (CYBER) aims to enable developers to create social applications where users own their digital identities and data.

The project’s native asset, CYBER, hit a new all-time high of $15.36 at one point on Friday. The 179th ranked crypto asset by market capitalization is trading at $14.68 at the time of writing, up from $3.59 a week ago, a staggering 308.9% increase. CYBER is also up almost 77% in the last 24 hours alone.

It is not entirely clear what is driving CYBER’s huge gains, although Binance, the world’s leading crypto exchange by volume, launched trading services for the asset earlier this month.

Binance too expelled earlier this week a “CYBER Simple Earn Quiz Promotion”. The first 45,000 Binance clients who read a CYBER article and complete a quiz with all the correct answers will receive 0.25 CYBER in a locked product position for 150 days.

Binance Blocked Products provide rewards in exchange for assets committed for fixed terms with predetermined repayment dates. The promotion, which runs until September 12, is only available to customers who have never signed up for Binance’s Simple Earn locked products before.

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source: dailyhodl.com