CYBER Price Soars Over 85% in 24 Hours
The CYBER token, which is the Web3 social graph protocol, briefly crossed $8.22 around 5 a.m. today and has now dropped back to $7.1 with an 85.38% gain in just the last 24 hours.
The impetus for CYBER’s incredible increase is largely due to the overall market recovery as Bitcoin and major cryptocurrencies have surged significantly in the past 12 hours, thanks to Grayscale’s legal victory over the SEC.
Just like when Ripple gained a legal advantage in its lawsuit with the SEC, causing the price of XRP and many alleged altcoins to be securities to skyrocket, the cryptocurrency market in the past hours has recorded a positive reaction after the US Securities and Exchange Commission lost ground against another crypto company, Grayscale.
The token went live on Binance on August 15 at 08:00 EST, with only 3% of the token supply released on the exchange. This listing reflects an important milestone for the CyberConnect project.
Immediately after this announcement, CYBER surged from $3 to over $6, accounting for almost 80%. But this spike was short-lived when the coin dropped sharply to its starting point, so it did not attract much attention.
CyberConnect is a Web3 social network that allows developers to create decentralized social applications. These applications allow users to use their digital identities, data, content, and interactions.
According to an official report, CyberConnect creates on-chain connections, allowing developers to create powerful social media applications on a decentralized domain and allowing creators to grow their audiences in a more equitable ecosystem.
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