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Highlights
- Marlin's native utility token POND is used for running validator nodes through staking.
- POND token has a circulating supply of 784,908,425 and a total supply of 10,000,000,000 POND tokens.
- POND crypto holds a market cap of US$ 79.8 million and ranks at the 449th position.
The cryptocurrency market was trading in red on Friday, September 10, but one cryptocurrency took everyone by surprise as it recorded a massive surge in trading volume and token price.
POND crypto, which is the native token of the Marlin protocol, recorded a 35.6 per cent surge in the last 24 hours and the one-day volume increased by 1088 per cent to $312,932,109, according to CoinMarketCap.
Marlin is an open protocol which allows users to perform edge computations and deploy customized overlays. The protocol provides a programmable network for decentralized finance (DeFi) infrastructure and Web 3.0.
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Meanwhile, Marlin's native utility token POND is used for running validator nodes through staking. Nodes are used in providing a virtual router interface to users of the Marlin protocol. POND can also be used for governance purposes on the blockchain such as determining how network resources can be allocated.
Notably, the Marlin project involves former researchers at Ethereum Foundation and world medallists at the International Collegiate Programming Contest (ICPC). The idea behind creating Marlin was to give a decentralized web platform to the users via blockchain technology.
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POND token price movement and prediction
According to CoinGecko, the POND token has surged by about 18 per cent in the last two weeks and 27 per cent since the past 30 days. The native token holds a market cap of US$ 79.8 million and ranks at the 449th position.
After scoring an all-time low of US$ 0.0184 per token on January 4, 2021, the POND token had surged by 485.6 per cent, at the time of writing. If the bullish momentum continues, the POND token could reach US$ 0.5 apiece by the end of this year and US$ 1 per token at the end of the first half of 2022, should investors decide that POND is a good investment.
Also Read: Which crypto to buy now in Canada?
The POND token has a circulating supply of 784,908,425 tokens and a total supply of 10,000,000,000 POND tokens.
Bottom line
One factor that could increase the popularity of POND tokens is security. Since the past few months, there have been increasing attacks on blockchain networks and that is challenging the claims that blockchains are highly secure. As Marlin is built atop Ethereum, the smart contracts are protected by a network of Ethereum nodes.
