- Ocean Protocol focuses on providing data sets to startups and researchers.
- Holders of the OCEAN crypto can stake their tokens and directly participate in the datatoken economy.
- The project was started in 2017, and it is an open-source protocol based on the Ethereum blockchain.
In the last 24 hours, Ocean Protocol (OCEAN) cryptocurrency surged 23.5 per cent, and it was trading at US$ 0.958 per token at the time of writing.
The one-day volume of the OCEAN crypto skyrocketed by more than 600 per cent to reach $199.4 million, and its market cap was up 24.5 per cent to $589.4 million.
Let's find more about cryptocurrency in this article:
What is Ocean Protocol, and where to buy OCEAN crypto?
It is a blockchain-based ecosystem where users can unlock their data's potential by monetizing it through ERC-20 tokens.
The project was started in 2017, and it is an open-source protocol based on the Ethereum blockchain. Ocean Protocol's founding team's aim was to create a project for offering the tools required to build a Web3 economy.
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Ocean seeks to make data sets available on its platform and uses datatokens to give access to the sets of data. Notably, the users can redeem the tokens to access the information.
Ocean Protocol focuses on providing data sets to startups and researchers. The project's native utility token is OCEAN crypto. It has several use cases like validating the best datatokens and allowing users to participate in the project's decisions by acting as a governance token.
The project is privacy-oriented, and it connects data providers with startups that require data to power their Web3 applications.
Holders of the OCEAN crypto can stake their tokens and directly participate in the datatoken economy. Stakes can become liquidity providers and earn some amount from the transaction fees generated by the pool.
Interested investors can visit cryptocurrency exchanges like Binance, Bitget, and CoinTiger to get hold of this cryptocurrency.
What is OCEAN crypto? Know its price prediction
It is believed that Web3 is the future of the web as it is expected to break the monopoly of big tech companies and provide increased data privacy and security.
Ocean Protocol cryptocurrency is related to Web3, and it could gain momentum by getting investors' attention.
In the last 12 months, the OCEAN crypto soared 143 per cent, and this token could surpass its all-time high of US$ 1.93 per token by the end of 2022.