The crypto market doesn’t recover anytime soon, and it crashed massively on Thursday morning, despite showing little growth over the past few days.
The global cryptocurrency valuation fell 5.12% to USD 1.23 trillion. The world’s oldest cryptocurrency continues to fall in value, and bitcoin was down 5.6 percent as of 2 AM EST the previous day.
Read also: Why is NuCypher (NU) crypto skyrocketing with 20,000% volume gain?
Status (SNT) crypto climbed nearly 12% over the past 24 hours, amid a crashing market, and was trading at US$0.04444 at the time of writing. Also, SNT Crypto had a trading volume of over 120% at US$81.3 million.
Status The rise in the price of crypto has made investors wonder why this crypto continues to rise despite the market crash. Come learn more:
What is SNT Crypto?
POS is classified as a decentralized program that includes an informational framework. Status allows you to connect to an organization from any location in that capacity.
The network is a lite client ethereum hub and can give you access to all ethereum decentralized applications (also known as dApps) from the application offered on your cell phone or tablet. This implies that customers can send encrypted messages and access decentralized applications, including crypto wallets.
The SNT is the core utility token of the Crypto Status network, and it uses these tokens for transactions. Status aims to make the adoption of Ethereum-based decentralized applications faster and more efficient.
Major cryptocurrency exchanges such as Binance, KuCoin and CoinTiger have listed SNT Crypto to allow users to buy and sell tokens.
There is no apparent reason behind the increase in the price and volume of SNT crypto, and it may be gaining traction in the form of the Web3 token. On May 31, the network tweeted that if users are concerned about data privacy, Status is the right place for them.
Status Network aims to build the next generation of the web without compromising on the data privacy of its users. As large tech corporations are accused of misusing data, users have become more aware of data privacy.
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