SCRT Surges as Secret Network Completes Duplex Finance Pilot

  • Secret Network’s native coin SCRT surged over 19% within 24 hours. However, the altcoin still hovers beneath its ATH of $10.
  • Secrete Network confirmed its concluded Duplex Finance pilot, considering a smooth path ahead.
  • Secrete Network Collaborated with Key Tango to Complete Duplex Finance Pilot.

Secrete Network team declared concluding its Duplex Finance project’s pilot some hours ago. They revealed working with Key Tango to complete the pilot and called it a success. For now, the team considers a smooth path forward in possible implementations and modifications.

Secret Network is a blockchain infrastructure that facilitates computational privacy for ‘smart’ contracts. SCRT token powers the blockchain. Users can use the native coin for delegation, staking governance, and transactional and computational charges.

SCRT has seen its value increasing by over 19% since yesterday’s announcement. While publishing this post, SCRT trades at $7.8. The alternative token has seen lucrative price actions since the year started.

On 2 January, SCRT surged beyond the $6 level, attaining a market capitalization of $900 million. The rally had the alt joining the top 100 crypto list by value. Meanwhile, the coin maintained its upward rally even when the broader market underperformed. Secret token rose past $7 on 10 January.

SCRT Might Hit $8.5 Soon

SCRT/USD daily price chart exhibits a bullish bias now. While writing this article, the token hovers beyond its 50-day MA of $5.40. The Moving Average Convergence Divergence has remained within a positive region since 2022 started. Meanwhile, the Relative Strength Index at 65 indicated SCRT might dip into the overbought territory if the rally continues.

SCRT might break beyond the initial crucial resistance mark at $8.5 within the upcoming hours if the asset sustains the bullish strength. However, broad market backing is essential for the alt to surpass its ATH at $10.

For now, the crypto market seems to pause after the latest bullish reactions. For now, Bitcoin retraces from its recent weekly high, trading at $42,167 during this writing. The leading currency should rally past $45K for steady upside movements. That way, SCRT will explore higher price areas without challenges.

Leave a Reply

Your email address will not be published.

Related

FINCI Helps Open New Market for Ripple

A New Partnership Ripple looks to expand its reach by teaming up with Lithuanian company FINCI. Ripple will make available RippleNet’s ODL services that use XRP to link two currencies, which reduces the cost of operations and speeds up transactions compared to traditional ways. The collaboration rests upon the use of RippleNet’s international payment network […]

ECB’s President, Christine Lagarde, Says Crypto Assets Have No Worth

In an interview, Christine Lagarde, the head of the European Central Bank, made it quite plain where she stands concerning the value of digital assets. Head Of ECB Label Cryptos As Worthless According to a survey by Politico, the head of the ECB noted her position on crypto. The ECB head stated that digital assets […]

UK Regulators are Investigating Terra’s Fiasco and Considering Crypto Rules

UK cryptocurrency market regulators are currently investigating Terra’s plunge. It began amid the recent cryptocurrency market massacre. The leading cryptocurrency in the market, BTC, fell as low as $26,000 during the market downturn. At the same time, Terra fell by about 100%. Terra’s Meltdown Under Investigation as UK regulators Consider New Crypto Rules While regulators […]

FTX Launches Stock And ETF Trading Option In The United States 

A prominent cryptocurrency exchange, FTX, is getting into the stock trading business. Soon, its users will be able to trade equities and exchange-traded funds on the platform.  Only A Few Users In The United States To Enjoy The Service  The Wall Street Journal reports that the firm Sam Bankman-Fried helped establish and serve as its […]

Major Australian Bank Shelves Crypto Launch Plan

CBA’s Crypto App Plan As previously mentioned last year, Australia’s biggest bank disclosed plans to let its users carry out crypto-related transactions on its app.  It has been taking its plan to develop the project but as not stated a particular time it will finally launch the project to the public. It also has plans […]