Why did Cube Network (CUBE) go against the crypto trend? Zooms 48%

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Why did Cube Network (CUBE) go against the crypto trend? Zooms 48%

Cube Network Crypto
Image source: © LoveEmployee | Megapixl.com

Highlights:

  • Cube Network (CUBE) is a scalable layer one public chain with modular architecture. 
  • Its market cap is US$462.96 million, with a circulating supply of 39 million. 
  • Cube Network said that its cross-chain channel would be available on June 13.

Cube Network (CUBE) token surged 47.84% to US$11.99 at 11:33 am ET on Monday, in a reversal to the global market, which fell 15% to US$956 billion. 

Bitcoin (BTC) declined 17% to US$23,121, Ethereum (ETH) fell 20% to US$1,216, and BNB (BNB) decreased by 16% to US$220.81.

But quite the opposite, the CUBE token rallied after listing on crypto news aggregator CryptoRank.io. Last week, the network announced that its cross-chain channel would be available for users through its official blog on June 13.

Users can deposit, withdraw, or transfer assets between chains in a centralized exchange. They can also perform the same tasks on the decentralized cross-chain platform.

Also Read: What is Hedera (HBAR) crypto and is it environment friendly?

Another reason for the token’s latest rise could be its June 12 announcement of its ambassador recruitment program. The network intends to recruit ambassadors to assist Cube in expansion. It has reserved 300,000 CUBE airdrop bonus for selected ambassadors.

What is Cube Network?

Cube is a scalable layer one public chain with modular architecture. The chain supports both cross-chain and multi-chain. Cube’s architecture is focused on Modular Layered Architecture and Proprietary Collaborative Rollup, such as a low-cost and secure transaction environment.

Additionally, the network has a Сhaos Consensus, a combination of decentralized, high throughput, security and fast transaction confirmation, a Non-linear Infinite Storage, and Cross-chain Interoperability capabilities.

Also Read: Is Ocean Protocol (OCEAN) rising on 4th upgrade or something else?

Cube Network cryptoData Source: coinmarketcap.com

Also Read: What is Tellor (TRB) crypto and how does it work?

CUBE token:

The token is currently available on Huobi Global crypto exchange. Its market capitalization is US$462.96 million, with a self-reported circulating supply of 39 million CUBEs. 

Its total supply is one billion CUBEs. 

Also Read: Why is AMM Ellipsis token (EPX) rising?

Bottom line:

Cube Network claims that its products and services are not available in the US, mainland China, Canada, Singapore, Japan, Cuba, Iran, North Korea, Sudan, Syria, Venezuela or anyone on the sanctions list of OFAC or other governments.

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