Why is PolySwarm (NCT) crypto up over 36%?

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Why is PolySwarm (NCT) crypto up over 36%?

Why is PolySwarm (NCT) crypto up over 36%?
Image source: © Kanawat | Megapixl.com

Highlights:

  • PolySwarm is a crowdsourced threat intelligence marketplace.
  • The token is available for trading on exchanges like BingX, Huobi Global, MEXC, etc.
  • It returned more than 113% gains over the last seven days.

The crypto market was trading in the green on Friday morning after a long spell of volatility.

The market was up 0.51% to US$1.27 trillion, while the trading volume slipped 8.74% to US$80.72 billion in the trailing 24 hours to Friday morning.

Price gains in Ethereum and cryptos lifted the market. The PolySwarm (NCT) crypto also saw significant traction. The NCT token price was up over 36%, while the one-day volume skyrocketed by more than 190%. Here we discuss the recent developments of the PolySwarm crypto.

Also Read: Why is Tron (TRX) crypto rising amid a market crash?

What is Polyswarm (NCT) crypto?

PolySwarm is a crowdsourced threat intelligence marketplace focused on detecting, analyzing, and responding to threats that are hard to detect in traditional systems. It claims to offer new threat-detection technologies. The platform allows the existing services and specialized engines to compete to detect threats and earn compensation after completing the tasks.

The NCT, an Ethereum ERC-20 token, facilitates marketplace transactions, like rewarding members for detecting malware in the ecosystem.

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The NCT token rewards are offered to users who provide relevant cybersecurity data. Additionally, the token is used to access insights provided by the network. The token is available for trading on exchanges like BingX, Huobi Global, MEXC, etc.

The project has been gaining attention for its cybersecurity solutions. It was scheduled to undertake system maintenance at 8:30 pm UTC on May 19 to increase its Mainnet load from 20% to 50%.

On May 17, it announced the beta release of its new decentralized browser and a search engine equipped with powerful intelligence integrations for efficient and safe internet surfing.

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PolySwarm (NCT) crypto price and performanceData Source: CoinMarketCap.com

Bottom line:

The NCT token was priced at US$0.03449 at 11:04 am ET on May 20, up 36.96%, while its volume for the trailing 24 hours rocketed 190.03% to US$16.28 million. It has a market cap of US$53.33 million, and its fully-diluted market cap is over US$65.03 million.

The token has a maximum and total supply of over 1.88 billion, and its current circulating supply is around 1.55 billion. It returned gains of 113.47% over the last seven days while increasing 33.14% YTD.

Also Read: Why gaming crypto platform MOBOX (MBOX) volume soared 124%?

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