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.

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