Key Points:
- CYBER altcoin soars by 308.9% in a week.
- Binance promotion fuels interest in CYBER.
- A decentralized social network revolution is underway.
In a notable defiance of the current sideways trend in the cryptocurrency market, a web3 decentralized social network altcoin achieved a new all-time high last Friday.
CyberConnect (CYBER) is on a mission to empower developers in creating social applications where users have ownership over their digital identities and data.
During the week, CYBER, the native token of the project, soared to an unprecedented peak of $15.36 at one point on Friday. Currently, this altcoin, ranked 179th by market capitalization, is trading at $14.68 at the time of writing, marking an astounding 308.9% surge from its value of $3.59 just one week ago. Moreover, CYBER has seen an impressive surge of nearly 77% in the past 24 hours alone.
While the exact catalyst behind CYBER’s substantial gains remains somewhat unclear, it’s worth noting that earlier this month, Binance, the world’s leading cryptocurrency exchange by trading volume, introduced trading services for this asset.
Additionally, Binance recently launched a “Simple Earn CYBER Quiz Promotion.” Under this initiative, the first 45,000 Binance users who read an article about CYBER and successfully complete a quiz with all the correct answers will receive 0.25 CYBER tokens, which will be locked in a 150-day fixed products position.
Binance’s locked products offer incentives in exchange for users committing their assets for predetermined periods with set redemption dates. It’s important to mention that this promotion, running until September 12th, is exclusively available to customers who have not previously subscribed to Binance’s Simple Earn locked products.
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