What is Dripto (DRYP) crypto and why is it rising?

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 What is Dripto (DRYP) crypto and why is it rising?
Image source: © Alexandersikov | Megapixl.com
Highlights:
  • Dripto intends to bring together the crypto, e-commerce, and streetwear industries through its innovative business model and comprehensive rewards system.
  • DRYP is the native utility token of the Dripto platform that opens for public trading on March 23, 2022.
  • The token is currently available on PancakeSwap (V2) and KnightSwap exchanges.

The crypto market appeared to be gaining traction lately, as the investors keep a close watch on the sector in anticipation of higher returns. Meanwhile, at the time of drafting, the global crypto market cap rose 1.56% to US$2.16 trillion, while its one-day volume surged 10.8% to US$120.75 billion, according to data provided by coinmarketcap.com.

The recent surge has caused a price surge among various altcoins, and Dripto (DRYP) crypto is one of them.

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What is Dripto (DRYP) crypto?

Dripto can be described as a sneaker resale platform built on blockchain technology. Streetwear is purchased and sold exclusively with the digital currency it claims to be the first of its kind through its platform.

The platform intends to bring together the crypto, e-commerce, and streetwear industries through its innovative business model and comprehensive rewards system.

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Built on the blockchain, the Dripto platform claims to have various advantages, like giving loyalty rewards.

It aims to create a bridge between the streetwear culture and crypto technology while offering a real-world use case for crypto and revitalizing the streetwear industry by providing an innovative novel alternative.

DRYP is the native utility token of the Dripto platform that opens for public trading on March 23, 2022. The token is currently available on PancakeSwap (V2) and KnightSwap exchanges.

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Why is it rising?

There is no apparent news of the recent surge of DRYP tokens. However, it is anticipated that the company's announcement that its week-long marketing campaign, which started on March 29, could have attracted various investors.

In addition, it also said a huge partnership would be revealed this week, along with a unique development update.

The platform also organizes a weekly lottery that goes live on March 25. The buyers having at least 1000 DRYP tokens are eligible to participate and win free prizes like plane tickets, gaming consoles, shoes, apparel, etc. The lottery that started on March 25 would be rewarding shoes to the winners.

These recent developments and the innovative business model of Dripto, along with a recent surge in the overall crypto market, may have attracted investors to it.

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Dripto (DRYP) crypto price and performance                                                                 *Data provided by CoinMarketCap.com

Bottom line:

The DRYP token was priced at US$0.03427 at 6:26 am ET on March 29, up 77.22%, while its one-day volume skyrocketed 114.28% to US$1.17 million. It has a market capitalization of US$5.12 million, and its fully-diluted market cap is US$5.14 million.

The self-reported circulating supply of the token is 150 million. The DRYP token saw the highest price of US$0.05364 and the lowest price of US$0.01174 in the last seven days.

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