Prometeus (PROM) crypto grabs eyeballs with volume rally of over 8000%

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Prometeus (PROM) crypto grabs eyeballs with volume rally of over 8000%

 Prometeus (PROM) crypto grabs eyeballs with volume rally of over 8000%
Image source: © Alexanderushkevich | Megapixl.com

Highlights

  • Prometeus (PROM) crypto is a Layer-2 decentralised framework that acts as a reliable and anonymous data storage protocol.
  • PROM crypto witnessed a rally on 30 June, up by 57.33% at 7:10 AM (GMT +1), with a huge volume rally of 8,127.86%. 
  • On Thursday, the 190-ranked PROM crypto was trading at US $5.68 and a trading volume of US $17,72,47,606 over a day, according to CoinMarketCap.

Created by Prometeus Labs, Prometeus (PROM) crypto is a Layer-2 decentralised framework that acts as a reliable and anonymous data storage protocol. Operating on the Ethereum and Binance Smart Chain protocol, Prometeus was initially envisioned to operate as a marketplace for data trading. However, the developers expanded its horizon, designed to solve real-world problems in data brokerage.

According to its website, PROM is a peer-to-peer approach primarily based on expanding its horizon beyond the traditional system, thereby allowing it to communicate worldwide and free without any censorship. This way, it is primarily focussed on giving the users back the control and granting freedom of expression. 

The PROM protocol had recently launched two DApps, Prosper and Realis Network, which announced its entry into the mainstream crypto products. While Prosper operates in the prediction market, Realis Network essentially functions as a mobile game platform.

On 30 June, PROM crypto witnessed a rally, up by 57.33% at 7:10 AM (GMT +1), with a huge volume rally of 8127.86%. 

Why is PROM crypto witnessing the rally? 

The PROM crypto has consistently showcased rally with over 85% gains in the past 14 days. Although the exact reason for the rally is still unknown, the PROM token's consistent volume rally in the past two days may have the market participants’ attention. 

In fact, according to the charts, the momentum at the moment seems to be getting more robust with increased buying activity. 

Image credit: Trading View

The RSI indicates that market participants have been on a buying spree, and on 30 June, it stood at 66.47.

The MACD mirrors the RSI's claims as the momentum is getting more robust with a significant gap between the MACD line and the signal line. 

The users can earn PROM tokens by helping the other users sell data using the DApps on the Prometeus platform.

How is PROM crypto faring? 

The 190-ranked PROM crypto on Thursday was trading at US $5.68 and a trading volume of US $17,72,47,606 over a day, according to CoinMarketCap. The token enjoyed a live market cap of US$9,34,83,495 with 1,64,50,000 PROM coins in circulation. 

The market participants mustn't make the mistake of getting into the market without proper research. One must ensure that they only get into it after a complete understanding of the market and taking investment decisions without adequate research may yield significant losses. 

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