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Highlights:
- The total supply of UPI tokens is one billion, and its circulating supply is 257.9 million UPI tokens.
- At the time of writing, the market cap of the cryptocurrency industry was up 2.2 per cent to $2.1 trillion.
- According to the whitepaper, Pawtocol LLC is looking to leverage blockchain technology and change the face of the pet care industry.
The price of Pawtocol (UPI) crypto was up 53.4 per cent in the last 24 hours, and it was trading at US$ 0.1419 per token at 4 AM EST. Meanwhile, the UPI crypto's one-day volume skyrocketed over 1300 per cent to $16.2 million.
At the time of writing, the market cap of the cryptocurrency industry was up 2.2 per cent to $2.1 trillion, and the world's oldest currency, Bitcoin, was up 14.2 per cent to $44,061.73 apiece.
Also Read: Ice Poseidon 'crypto scam': All you need to know
The overall crypto market seems to be gaining momentum over the past few days, and it was trading in the green on February 8.
That said, let's find out more about Pawtocol cryptocurrency and why it is gaining momentum:
What is Pawtocol?
According to the whitepaper, Pawtocol LLC is looking to leverage blockchain technology and change the face of the pet care industry. It aims to develop a blockchain-based platform focusing on a pet-based economy.
Using blockchain technology, Pawtocol aims to build a global community of pet service providers, pet parents, and manufacturers of products meant for pets.
Pawtocol aims to use data and technology to improve the lives of pets and help them live longer. This protocol uses artificial intelligence and internet of things (IoT) devices to assist pet caretakers.
For example, Pawtocols AI is expected to make pet care recommendations by assessing personal data and community supplied correlations.
UPI coin is the native token of Pawtocol, and it can be used to incentivize users who upload their pet's data.
The company recently appointed Colin Jordan as its chief executive officer (CEO) and is expected to launch the blockchain-powered platform.
Mr Jordan has previously held a leadership position at Egnyte, a software-as-a-service provider (Saas) in Silicon Valley. He is expected to develop and execute Pawtocol's go-to-market strategy.
Bottom line
The surge in UPI crypto prices could be due to the announcement that Huobi Global will list this cryptocurrency on its platform. Notably, Huobi is one of the leading cryptocurrency exchanges in the world.
The total supply of UPI tokens is one billion, and its circulating supply is 257.9 million UPI tokens.
Also Read: What is Tectonic (TONIC) crypto? All you need to know
If you want to buy the UPI crypto, you can visit crypto exchanges like BitForex, Coinbase, and PancakeSwap (V2).
