What occurred
Concord‘s (CRYPTO:ONE) One token is surging as quickly as extra right now. The cryptoforeign money’s worth was up roughly 13% Over the previous 24 hours of buying and promoting as of 6 p.m. ET, and it was up Greater than 33% earlier Inside the day.
There’s been a widespread rally for A bit of tokens That are tied to blockchains That are related to a service pretty Than merely serving as a foreign money, and Concord’s One token is collaborating Inside the rally. The token’s worth May even be climbing As a Outcome of of current replaces introduced by the community’s enchancment group.
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So what
Concord permits knowledge to be simply moved throughout separate blockchains, collectively with Ethereum, Binance, And a quantity of completely different completely different chains. Purposes Might be constructed on the Concord blockchain, and clients pay The worth of Ending up features with the One token.
Concord revealed a message on Twitter on Nov. 22 saying that its blockchain was now In a place to serve Greater than 4 occasions as a lot consumer exercise As a Outcome of of A mannequin new replace. The information despatched the One token extremeer, and momentum has continued into Tuesday’s buying and promoting. Concord furtherly revealed an replace on its bridge enterprise with Bitcoin in a tweet right now, saying that it was working with its contracted auditing agency on nice-tuning, and that the auditing agency Can be evaluating further options on the enterprise.
Now what
Concord’s token is up roughly 27% Over the previous seven days of buying and promoting. The One token now has a market capitalization of roughly $3.5 billion, making it the 53rd-largest cryptoforeign money by market capitalization.
Concord continues To look like a extreme-hazard funding, However It is potential that its cryptoforeign money will climb significantly above current prices if the community’s blockchain winds up being The inspiration for properly-appreciated applications. With curiosity heating up in metaverses and decentralized finance applications constructed on blockchains, there could be growing demand that works to drive One’s token worth extremeer.
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Source: https://www.fool.com/investing/2021/11/23/heres-why-harmonys-cryptocurrency-is-skyrocketing/