Why is PolySwarm (NCT) crypto up over 36%?

May 21, 2022 03:13 AM AEST | By Rupam Roy

Why is PolySwarm (NCT) crypto up over 36%? — Image source: © Kanawat | Megapixl.com

What is Polyswarm (NCT) crypto?

PolySwarm is a crowdsourced threat intelligence marketplace focused on detecting, analyzing, and responding to threats that are hard to detect in traditional systems. It claims to offer new threat-detection technologies. The platform allows the existing services and specialized engines to compete to detect threats and earn compensation after completing the tasks.

The NCT, an Ethereum ERC-20 token, facilitates marketplace transactions, like rewarding members for detecting malware in the ecosystem.

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The NCT token rewards are offered to users who provide relevant cybersecurity data. Additionally, the token is used to access insights provided by the network. The token is available for trading on exchanges like BingX, Huobi Global, MEXC, etc.

The project has been gaining attention for its cybersecurity solutions. It was scheduled to undertake system maintenance at 8:30 pm UTC on May 19 to increase its Mainnet load from 20% to 50%.

On May 17, it announced the beta release of its new decentralized browser and a search engine equipped with powerful intelligence integrations for efficient and safe internet surfing.

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PolySwarm (NCT) crypto price and performance Data Source: CoinMarketCap.com

Bottom line:

The NCT token was priced at US$0.03449 at 11:04 am ET on May 20, up 36.96%, while its volume for the trailing 24 hours rocketed 190.03% to US$16.28 million. It has a market cap of US$53.33 million, and its fully-diluted market cap is over US$65.03 million.

The token has a maximum and total supply of over 1.88 billion, and its current circulating supply is around 1.55 billion. It returned gains of 113.47% over the last seven days while increasing 33.14% YTD.

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