- The CVP token caught investors’ attention as the cryptocurrency market recovered since the crash on Friday, September 24.
- The one-day volume of CVP crypto has skyrocketed by about 1,060 per cent.
- PowerPool aims to accumulate governance power on the Ethereum blockchain. The CVP crypto can be used for governance.
The cryptocurrency market appears to be in the early stages of recovery after Friday's crash that came after cryptocurrency transactions were banned in China. The People's Bank of China (PBOC) said on September 24 that it has banned all cryptocurrency transactions in the country.
In the past few months, China has intensified its measures against the cryptocurrency industry. After a crackdown on crypto mining, the PBOC has now banned overseas cryptocurrency exchanges from offering services in mainland China.
At the time of writing, the cryptocurrency market was trading in the green, and Bitcoin was up by 4.5 per cent to US$ 44,031.37 per token. Meanwhile, alternate cryptocurrencies to Bitcoin were also on the rise.
PowerPool volume up over 1,000%. What is CVP coin’s price prediction
One cryptocurrency that has caught investors' attention is PowerPool (CVP) as its one-day volume has skyrocketed by about 1,060 per cent. At 3 AM EST, the CVP crypto was trading at US$ 2.7 per token after a surge of 83 per cent in the last 24 hours.
What is the PowerPool crypto?
This protocol is a decentralized autonomous organization (DAO) manager of non-custodial structured investments. PowerPool provides its users with thematic pooled investments tokens that can be used for hedging.
PowerPool aims to accumulate governance power on the Ethereum blockchain and allows users to lend, pool, and borrow governance tokens. The native token of this protocol is CVP, and it can be used as a governance token and to incentivize users of the PowerPool protocol.
The protocol also features bullish, bearish and neutral strategies. This allows users to diversify their portfolios and make money in any market.
According to PowerPool’s website, the market cap of CVP tokens is US$ 69 million and it is available in 29 markets. In addition, the circulating supply of the CVP crypto is 25 million tokens.
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CVP token's price movement and prediction
According to CoinGecko data, the CVP crypto's price has surged by about 80 per cent in the last 12 months and 167.5 per cent in the past week. The price movements indicate that the CVP token is in a bullish zone and if the momentum continues, the cryptocurrency could reach US$ 4.5 by the end of this year.
On September 1, the CVP crypto had clocked an all-time high of US$ 17.27 per token and if the crypto market is not jolted continuously, the token could breach its ATH in the second half of 2022.
If you are interested in this cryptocurrency, the top exchanges for PowerPool's native token is the Mandala Exchange, Binance, OKEx, ZT, and Huobi Global. However, it is vital to note that before investing, it is important to study the cryptocurrency market and the crypto tokens.