Why is Pawtocol (UPI) crypto gaining attention?

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 Why is Pawtocol (UPI) crypto gaining attention?
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Highlights:
  • Pawtocol (UPI) has recently been listed in the Gate.io exchange.
  • The UPI token returned more than 1595% over the past 12 months.
  • The token's total and maximum supply of the token is 1 billion.

Cryptocurrencies are quite popular worldwide and attract various new investors every day. The main reason for cryptos' tremendous popularity is the prospects of higher returns.

Today, a crypto, Pawtocol (UPI), has grabbed the investors' eyeballs, evident by a rally in its price. The price of the UPI crypto was up over 67% on Friday morning, while its volume for the last 24 hours skyrocketed around 155%.

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What is Pawtocol (UPI)?

Pawtocol is a global online community for pet lovers and intends to bring the pet industry to new heights.

It aims to leverage blockchain technology for monetizing data about the pets of the pet parents while improving the owner's purchase experience.

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In addition, it also claims to aid the veterinarians in delivering better care for pets. Pawtocol uses artificial intelligence (AI) and internet of things (IoT) solutions to help pet parents take care of their pets.

The native and utility token of Pawtocol is UPI, which the holders can use to provide an incentive to the users who upload their pet's data.

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Pawtocol (UPI) crypto price and performance                                              Source: *Data provided by CoinMarketCap.com

Why is it rising?

Several major exchanges have listed the UPI token in their platforms, bolstering gains in the token price.

Now, Gate.io, one of the leading crypto exchanges globally, has listed the UPI token on its platform on March 2. Various investors have cheered the announcement.

The UPI token is also available on various other major exchanges like Huobi Global, Coinbase Exchange, BitMart, etc.

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In addition to that, Colin Jordan, the recently appointed Chief Executive Officer (CEO) of Pawtocol, announced on Twitter that the pet-focused protocol is ready to announce the "first real-life pet" as NFT in its platform.

He added that it is a remarkable milestone for the Pawtocol team, and it may aid them to make a name in the NFT marketplace.

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Bottom Line:

The UPI token was priced at US$0.08456 at 8:09 am ET on March 4, up 67.13%, while its one-day volume soared 155.14% to US$10.64 million.

It has a market capitalization of US$21.80 million, and its fully-diluted market cap is around US$84.55 million.

The total and maximum supply of the token is 1 billion, and its current circulating supply is 257.92 million. The UPI token's price skyrocketed 1595.82% over the past 12 months.

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