CyberConnect’s CYBER Token Rallies Over 50% After Investment from This Major Exchange – Report

The native token of decentralized social network CyberConnect saw major gains this week after receiving an investment from Binance Labs.

CyberConnect’s CYBER token price jumped over 30% to $6.81 following the Binance announcement, per CoinMarketCap data. The cryptocurrency has rallied 58% over the last 7 days.

Source: CoinStats – Start using it today

In a blog post, Binance Labs revealed it made a follow-on investment in CyberConnect as part of the platform’s latest funding round.

“We see SocialFi’s potential in propelling web3 into the mainstream,” Binance Labs wrote. The venture arm of cryptocurrency exchange Binance manages over $1 billion in assets.

CyberConnect aims to enable decentralized social networking applications where users control their own identities, content, connections, and interactions.

The project falls under the umbrella of SocialFi, which refers to social media and social networking applications built on blockchain technology and web3 infrastructure.

As CyberConnect garners more attention, some crypto traders believe the rally has room to run. “CYBER pump started. If you didn’t buy it when I called it, you deserve a hit from me,” wrote crypto influencer Crypto Elum on Twitter following the price surge.

With Binance’s backing, CyberConnect appears positioned to capitalize on growing interest in web3-based alternatives to traditional social media networks.

Check $RECQ Meme Coin

Sponsored: Invest Responsibly, Do Your Own Research.
Serves as the base currency for all transactions within the Rebel Satoshi platform
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.
intelligent crypto
How are  regular people making returns of as much as 70% in a year with no risk?  By properly setting up a FREE Pionex grid bot - click the button to learn more.
Crypto arbitrage still works like a charm, if you do it right! Check out Alphador, leading crypto arbitrage bot to learn the best way of doing it.

Tags:

Vignesh Karunanidhi
Vignesh Karunanidhi

Seasoned crypto writer with deep passion for blockchain and cryptocurrency

CaptainAltcoin
Logo