Magic Square’s new development announcements catapult it to the top of the gainers’ list
Magic Square, a decentralized app store for web3 applications, has secured a position on CoinGecko’s list of top gainers, with a 10.6% increase in price over the past 24 hours. In an official announcement on its X platform, Magic Square (SQR) revealed its plans to introduce several platform enhancements in the coming weeks. These include improved functionality for SQR at the Magic Store, the launch of a Premium Membership Program, and the introduction of Review 2.0, which will allow users to upvote reviews and earn karma points.
Furthermore, the project announced its intention to provide users with more opportunities to accumulate additional tokens through the project’s daily pool. SQR, the native utility token, operates on the BNB Smart Chain and plays a crucial role in fueling the Magic Square ecosystem, as well as facilitating integration with users, developers, and validators.
CoinGecko’s trending board highlights that SQR has experienced a significant increase of almost 76% in the past seven days, outperforming the global cryptocurrency market’s decline of 5.3%. Additionally, it has outperformed other BNB Chain Ecosystem cryptocurrencies, which have shown no change in value during the same period. However, it’s important to note that the token’s current price is approximately 21% lower than its all-time high.
It’s worth mentioning that Magic Square is one of several altcoins that have experienced a rally in the past week. This success coincides with a report from a popular YouTube analyst, who discussed a signal used by many crypto experts that has recently been activated for the altcoin market. This has sparked speculation about the potential initiation of the 2024 bull run.
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