What is Spintop (SPIN) crypto and why is it soaring?

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 What is Spintop (SPIN) crypto and why is it soaring?
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Highlights

  • The Spintop crypto is the native utility token of Spintop, a gaming hub based on blockchain technology.
  • The maximum supply of the Spintop crypto is one billion, and its circulating supply is around 162.3 million.
  • The surge in the price of Spintop crypto could be due to an announcement that it is introducing an IDO on SpinStarter.

The price of the Spintop (SPIN) cryptocurrency surged six per cent in the last 24 hours to US$ 0.1216 per token. Meanwhile, its one-day volume soared about 70 per cent to US$ 583,165, according to CoinMarketCap data.

After a few days of declining rapidly, the overall crypto market seems to be recovering. At 2:30 AM EST, the global crypto market cap had recorded an increase of 2.2 per cent to reach US$ 1.91 trillion.

At the time of drafting this article, Bitcoin had surged 2.8 per cent to US$ 41,265.22 apiece, and ETH had gained 1.7 per cent to US$ 3,107.5 per token.

Also Read: Why is DGB crypto skyrocketing? All you must know about DigiByte

The crypto market is going through turbulent times with increased volatility in an already volatile market. On Thursday, April 14, it appeared that crypto enthusiasts were taking an interest in the Spintop cryptocurrency. Let's further explore the virtual currency in this article:

What is Spintop (SPIN) crypto?

The Spintop crypto is the native utility token of Spintop, a gaming hub based on blockchain technology. Spintop protocol's mission is to utilize Web3's new tools and offer a comprehensive experience to players, investors, and traders.

Spintop's ecosystem is designed in a manner to act as a gaming hub and allow players to exchange their non-fungible tokens (NFTs), reviews, and tokens.

Spintop's ecosystem comprises four major elements: Gamepedia, Spindex, NFT marketplace, and Guild Maker.

While Gamepedia is a community-based gaming guide, the Spindex is a decentralized exchange for gaming tokens, where they are pooled to create liquidity and incentivize yield farming.

Meanwhile, the Guild Maker is to act as a meeting ground for play-to-earn sponsors, and the NFT marketplace is for sale or lending.

Spintop crypto©2022 Kalkine Media®

Bottom line

The surge in the price of Spintop crypto could be due to an announcement that it is introducing an IDO on SpinStarter. The protocol tweeted that the SPIN token can be used for staking in SpinStarter and earning tokens.

The maximum supply of the Spintop crypto is one billion, and its circulating supply is around 162.3 million. It is currently available on the cryptocurrency exchange- PancakeSwap (V2) for trading.

Also Read: What is Celo crypto and why is its price skyrocketing?

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