PolySwarm (NCT) experiences remarkable 91% surge in 24-hour trading
PolySwarm (NCT) has seen a significant surge in price, with a rise of over 90% in the past 24 hours. This comes as other major cryptocurrencies experience minor dips. PolySwarm is a blockchain project that focuses on enhancing cybersecurity in the Web3 space.
The current price of PolySwarm (NCT) is $0.0397, which represents a 91% increase in the last 24 hours and an impressive 56.53% increase in the past week. With a circulating supply of 1.7 billion NCT, PolySwarm now boasts a market cap of over $65 million.
Built on the Ethereum (ETH) network, PolySwarm is a Decentralized Antivirus and Cyber Threat Intelligence Ecosystem that utilizes smart contracts and blockchain technology to incentivize a global community of cybersecurity professionals.
Unlike traditional cybersecurity methods that rely on a single source, PolySwarm provides a collaborative platform for enterprises, consumers, vendors, and experts to come together and create a unified marketplace. This collaborative approach allows for the development of anti-malware engines by various cybersecurity experts, enabling rapid innovation to combat emerging threats.
While this approach differs from the mainstream market dynamics, PolySwarm believes in interoperability and cooperative problem-solving. Participants can rely on the collective protection provided by multiple anti-virus solutions.
Cybersecurity is a critical discipline that safeguards digital systems, networks, and sensitive data from cyber attacks and unauthorized access. In a world where virtually everything is interconnected through advanced technologies, strengthening cybersecurity is of utmost importance.
As PolySwarm (NCT) continues to show bullish momentum, other cybersecurity tokens are experiencing mixed fortunes. Hacken (HAI) and BLOCX (BLOCX) have seen positive gains of 20.32% and 34.16% respectively. Conversely, gotEM (GOTEM) has faced a decline of 37.44%, highlighting the dynamic nature of the cybersecurity crypto market. Quantstamp (QSP) has also seen a decline of 8.6% in the past 24 hours, according to CoinMarketCap.
Currently, the total market capitalization for cybersecurity coins stands at $463.7 million, with a trading volume of $119.2 million, based on CoinMarketCap data.
The alt-coin market seems to be following Bitcoin’s recent surge, which has had an impact on the entire cryptocurrency market. This rise is driven by positive sentiment surrounding the approval of exchange-traded funds (ETFs) and the upcoming halving, attracting more investors to the crypto market.
It is worth noting that since the approval of spot Bitcoin ETFs by the U.S. Securities and Exchange Commission (SEC) in January, these funds have attracted significant investment from leading institutional investors like BlackRock and Fidelity Investments, totaling $7.35 billion. This influx of funds has propelled the value of Bitcoin to new heights.
According to Fundstrat co-founder Thomas J. Lee, Bitcoin is expected to experience further growth in the coming years. Lee predicts that the price of Bitcoin could reach a high of $150,000, driven by supply and demand dynamics as well as the impact of spot ETFs, adding to the excitement surrounding the ever-expanding cryptocurrency world.
Read more: Former SEC official, cybersecurity expert shares insights on the potential impact of spot Bitcoin ETFs. Follow Us on Google News.
