Why Web3 Project (WEB3) crypto skyrocketed 128% in one week?

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Why Web3 Project (WEB3) crypto skyrocketed 128% in one week?

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 Why Web3 Project (WEB3) crypto skyrocketed 128% in one week?
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  • The Web3 Project intends to create an integrated blockchain to enable users to own their data.
  • The WEB3 token is available on PancakeSwap (V2) exchange.
  • It returned gains of over 73% since March 23.

The increasing popularity of cryptocurrencies drove many companies to enter the digital space. Currently, there are around 18,728 crypto assets and over 497 exchanges. Web3, metaverse, NFTs, etc., are the catchwords in the industry today.

The Web3 Project (WEB3) has gained significant traction since its launch, demonstrated by its price rally. WEB3 was up over 4% in the trailing 24 hours to Wednesday morning. The trading volume jumped more than 22%.

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What is The Web3 Project (WEB3) crypto?

The Web3 Project intends to create an integrated blockchain to enable users to own their data and create user-friendly decentralized applications (DApps). The project comes with mystery boxes, NFTs, play-to-earn games, and other related features.

It claims to be one of the world’s fast projects when it comes to distributing rewards. Its users earn rewards every three seconds, the maximum speed that any project can attain.

In addition, it offers high interest-rates and robust security. The Web3 Project describes itself as a vanguard of GameFi, decentralized finance (DeFi), and Social Finance.

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The users can stake in the protocol's DAO pool to earn a Web3 token that would enable the holders to participate in the DAO governance. The WEB3 token powers the whole ecosystem while facilitating staking and rewards for the holders.

The token is used to buy goods and services on the platform, making it its native utility token. It can be purchased on the PancakeSwap (V2) crypto exchange.

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Why is it gaining attention?

On April 4, the project unveiled a demo version of its new play-to-earn (P2E) game Upfinity League, drawing the attention of investors.

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The Web3 Project (WEB3) crypto price and performanceSource: *data provided by CoinMarketCap.com

Bottom line:

The WEB3 crypto was priced at US$285.60 at 6:48 am ET on April 6, up 4.80%, while its volume for the last 24 hours jumped 22.24% to US$3.36 million. It has a market cap of US$6.91 million, and its fully-diluted market cap is US$28.56 million.

The token's maximum supply is 100,000, and its self-reported circulating supply is 24,000. It returned gains of 73.28% since March 23 and 128.67% in the last seven days.

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