Why is Bloktopia (BLOK) crypto rising?

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Why is Bloktopia (BLOK) crypto rising?

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 Why is Bloktopia (BLOK) crypto rising?
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Highlights:
  • Bloktopia can be described as a decentralized metaverse built on and backed by Polygon.
  • The BLOK token is available on various major crypto exchanges like OKX, Bitget, etc.
  • It gave a return of over 52% in the past 30 days.

The global crypto market stayed in the green on March 31, despite a slight decline in Bitcoin (BTC) price. At the time of drafting, the market cap of the crypto market was up 0.78% to US$2.16 trillion, while its one-day volume tumbled 6.38% to US$113.43 billion.

Meanwhile, among the gainers, the Bloktopia (BLOK) crypto caught the investors' eyes on early Thursday as its price soared.

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What is Bloktopia (BLOK) crypto?

Bloktopia can be described as a decentralized metaverse built on and backed by Polygon.

The platform users could educate themselves with the basics and advanced learnings of cryptocurrencies while earning revenue through acquiring virtual real estate, playing games, building networks, and other related activities. The advertisers and sponsors could also monetize Bloktopia's userbase by a dedicated non-fungible token (NFT) mechanism.

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It claims that it provides a virtual reality experience to the crypto community. The users could engage in an immersive environment through its four core aspects, learning, earning, playing, and building.

BLOK, an ERC-20 token on Polygon, is the native utility token of Bloktopia that offers various privileges to the users. For instance, the users could own property or advertising space, vote on the governance of the metaverse, purchase avatars, create a personalized version of the metaverse and do other related things with the token.

It is available on various major crypto exchanges like OKX, Bitget, Gate.io, etc.

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Why is it rising?

The recent rally of Bloktopia follows its listings news in recent days. However, the token also gained traction after MultiNFT.io announced a partnership with Bloktopia on March 29.

Meanwhile, Bloktopia got on board the BNB Chain network on March 30. These recent developments might have triggered the recent rally of the BLOK token.

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Bloktopia (BLOK) crypto price and performance                                              Source: *Data provided by CoinMarketCap.com

Bottom line:

The BLOK token was priced at US$0.02777 at 6:01 am ET on March 31, up 50.16%, while its one-day volume skyrocketed 1093.06% to US$110.81 million. It has a market cap of US$231.57 million, and its fully diluted market cap is US$5.55 billion.

The token's max and total supply are 200 billion, and its current circulating supply is 8.34 billion. It returned 52.55% in the past 30 days, and 65.99% in one week.

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