Altcoin Linked to Web3 Social Network Surges Over 308% This Week

A decentralized social network altcoin within the Web3 ecosystem achieved a notable milestone by reaching a new all-time high on Friday, demonstrating resilience in the face of the prevailing stagnation in the cryptocurrency market.

Known as CyberConnect (CYBER), this altcoin project is designed with the primary objective of facilitating the development of social applications that empower users to have full ownership of their digital identities and data.

During the course of Friday’s trading, CYBER, the native asset of the CyberConnect project, surged to an unprecedented high of $15.36. As of the time of writing, it is valued at $14.68, reflecting a substantial increase from its price of $3.59 just one week ago, constituting a remarkable uptick of 308.9%. Furthermore, CYBER has experienced a significant uptrend of nearly 77% within the past 24 hours alone.

The driving forces behind CYBER’s substantial gains remain somewhat unclear; however, it is noteworthy that Binance, the world’s leading cryptocurrency exchange in terms of trading volume, introduced trading services for CYBER earlier in the current month.

Additionally, Binance initiated a promotional campaign titled the “Simple Earn CYBER Quiz Promotion” earlier this week. This initiative offers the first 45,000 Binance clients who read an article about CYBER and successfully complete a quiz with all correct answers a reward of 0.25 CYBER, locked within a 150-day product position.

Binance’s locked products are structured to provide rewards in exchange for assets that are committed for predetermined fixed terms, with established redemption dates. It is important to note that this promotion, scheduled to run until September 12th, is exclusively available to customers who have not previously subscribed to Binance’s Simple Earn locked products.

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Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

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