JUNO crypto just rallied over 14%. Know why here?

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JUNO crypto just rallied over 14%. Know why here?

 JUNO crypto just rallied over 14%. Know why here?
Image source: © Inueng | Megapixl.com

Highlights

  • Built on the Cosmos blockchain, the JUNO protocol is a sovereign public blockchain wherein the developers can not only design but also deploy interoperable smart contracts.
  • The JUNO crypto on 28 July witnessed a rally of over 14% and a volume gain of over 72% at 7:00 AM (GMT + 1), according to CoinMarketCap. 
  • The JUNO crypto, as of Thursday, was trading at US$3.77 with a trading volume of US$11,17,162 over a day, according to CoinMarketCap.

Built on the Cosmos blockchain, the JUNO protocol is a sovereign public blockchain wherein the developers can not only design but also deploy interoperable smart contracts. Launched in October 2021, the JUNO network through its unique CosmWasm allows usage of the WebAssembly and Virtual Machines in the Cosmos SDK.

Being decentralsied in nature, it allows various DApps to be developed by the users. According to its whitepaper, the users can create and use inter-chain applications on the platform. CosmWasm acts as a library offering all the codes needed for building a contract.

Operating through environment-friendly Proof-of-stake consensus, its network is governed by delegators, who vote on changes via on-chain governance.

The JUNO crypto on 28 July witnessed a rally of over 14% and volume gain of over 72% at 7:00 AM (GMT + 1), according to CoinMarketCap. 

Why is it rallying?

The overall crypto market may be bearish, but JUNO has been one of the few tokens which witnessed gains in the last one month. In fact, according to CoinGecko the 2982-ranked crypto has registered gains of over 37%.

This trend continued and in the past week, it has managed to hold the rally at 15.6%. The reason for today’s rally is still unclear, but it may well be due to the gains it has made in the recent past. Besides, JUNO also announced Crypto Trivia Thursdays, wherein the participants stand a chance to register themselves in a prize pool starting from US$100. The JUNO protocol will allow 50 entries to pool in, and US$5 dollar will be added to each user’s account who will would participate.

JUNO crypto's price performance

The JUNO crypto, as of Thursday, was trading at US$3.77 with a trading volume of US$11,17,162 over a day, according to CoinMarketCap. The token has a fully diluted market cap of US $698,227,932 with a maximum supply of 18,55,62,268 JUNO coins. 

With the consistent rally, the JUNO crypto has managed to grab the eyeball of the investors. But the market at the moment is witnessing extreme volatility and it is during this phase that one has to be extra careful and ensure that they tick the boxes of market research. Any decisions that are taken without research may result in financial losses.

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