Wicrypt (WNT), an altcoin linked to the decentralized web infrastructure project DePIN, exploded over 30% today to trade close to $0.32. This price surge comes on the heels of Wicrypt receiving significant financial backing from tech giants Microsoft and Google.
Just this morning, Wicrypt announced via Twitter that it has received a $150,000 grant from Microsoft Azure. This news caused the altcoin to immediately spike upwards. The grant money will help Wicrypt expand collaboration and improve productivity around its development chain.
We received a $150,000 grant from Microsoft. This grant will go a long way in expanding collaboration and improving productivity around our #DePIN development chain.
— Wicrypt (@wicrypt) December 6, 2023
Thank you @Azure for the immense opportunity, and thank you @OVioHQ for the constant support and helping make… pic.twitter.com/yfmTjkXfdw
Additionally, Wicrypt previously received a $200,000 grant from Google about a week ago. Though the altcoin already saw gains from this initial grant, today’s Microsoft announcement acted as another catalyst to send WNT even higher.
Wicrypt now has an all-time high of $0.37 from November 29th. With renewed interest and investments from Big Tech, WNT seems poised to test its previous ATH once again.
Some additional tailwinds benefiting Wicrypt include its link to the larger Helium blockchain project (which carries WNT in its DePIN basket of projects) and Wicrypt’s upcoming migration to the Arbitrum Layer 2 network to enhance scalability.
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With major financial and development backing from the likes of Microsoft, Google, and Helium, Wicrypt is asserting itself as an altcoin to watch closely in the weeks ahead. Its tiny $9 million market cap could expand exponentially with its impressive institutional support.
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