Crypto degens have found their newest shiny toy, CYBER, the token for the web3 social media network CyberConnect.
CYBER price is up 250% in the past seven days due to the massive interest from traders. This sharply contrasts the current bearish sentiment prevalent in the crypto market during the period.
What is CyberConnect?
CyberConnect is a social media network that allows developers to create applications focused on content, friendship, and digital identity. The network has only been around for a few weeks and has seen increased activity recently. Its whitepaper said:
“Developers can build innovative social applications where users own their identities and data, while creators can grow their audiences in a fairer, more direct, and decentralized environment.”
Users of CyberConnect also have access to its CyberGraph, a smart contract network, to record content and social connections. There is also CyberID, an ERC-721 token that represents unique handles for accounts within the CyberConnect ecosystem.
Trading Frenzy Pushes Cyber Value up
The network has witnessed a surge in interest, reflected in its robust trading volume and a remarkable increase in its market capitalization, which now stands at $144 million. Trading activity has soared to $898 million.
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Author: Oluwapelumi Adejumo
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