Why Keep Network (KEEP) crypto jumped over 12% today?

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 Why Keep Network (KEEP) crypto jumped over 12% today?
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  • The KEEP token surged over 12% on Monday morning.

  • It gave a return of over 274% over the last 12 months.

  • It reached an all-time high of US$296.45 in Dec 2020.

The Keep Network (KEEP) token jumped over 12% to US$0.808 on Monday morning. Although there was no apparent reason for the rally, we discuss what it aims to achieve.

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What is Keep Network (KEEP)?

Keep Network is an incentivized network for storing and encrypting private data on the public blockchain. The network comprises off-chain containers for private data named Keeps, while the KEEP token allows it to be fully permissionless.

The Keep Network addresses the problem that holds back the adaptation of the blockchain. In addition, the network helps developers build a complete decentralized app.

The tBTC or the Bitcoin bridge on Ethereum is the first app built on the Keep network. tBTC is an open-source project aided by groups like Keep, Summa, and Cross-Chain.

It is a complete Bitcoin-backed ERC-20 token pegged to the Bitcoin price, enabling the BTC holders on the Ethereum blockchain to access the DeFi ecosystem and earn.

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KEEP is the network’s native work token. It has dividends and a slashing model and offers the Sybil resistance that makes the Keep Network censor-resistant and permissionless.

Crypto enthusiasts and industry veterans Corbin Pon and Matt Luongo co-founded the Keep Network in 2017. The duo had earlier founded the Bitcoin reward app, Fold.

KEEP is available on exchanges like Uniswap, Mooniswap, etc.

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Keep Network (KEEP) token soared over 12% on Monday

Source: *Data provided by CoinMarketCap.com

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Pricing and the total supply of Keep Network (KEEP):

The KEEP token was up 12.26% to US$0.808 at 9:46 am ET on Jan 3. Its market cap is US$486.01 million, and its fully diluted market cap is US$802.61 million. In the last 24-hour to Monday morning, its trading volume was US$75.91 million, an increase of over 34.86%.

The token saw the highest price of US$1.19 and the lowest price of US$0.1971 in the last 52 weeks. It touched an all-time high of US$296.45 on Dec 18, 2020. The token gave a return of 274.2% over the last 12 months.

During its main net launch on April 27, 2020, one billion KEEP tokens were created. Notably, the maximum supply of the KEEP token is limited to one billion.

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The crypto industry has over 16,310 cryptos and more than 450 exchanges. The global crypto market value is about US$2.25 trillion. Bitcoin (BTC) and Ethereum (ETH) led the market with a share of over 39% and 20%, respectively, according to CoinMarketCap.com.


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