The Native Altcoin for a Gaming-Focused NFT Marketplace Surges Over 35% in 24 Hours
The native altcoin of a gaming-focused non-fungible token (NFT) marketplace has experienced a significant surge of more than 35% within a 24-hour period, defying the overall stagnation in the crypto market.
Promoting a Decentralized and Safe Ecosystem for NFTs
The altcoin, known as PROM, is associated with Prom (PROM), which describes itself as a decentralized, confidential, and safe ecosystem for exchanging and renting NFTs. At the time of writing, PROM is trading at $7.65, reflecting a 36.3% increase in the past day.
New Game Listing May Have Contributed to the Surge
While it remains unclear what exactly triggered this surge, it is worth noting that Prom advertised a new game listing for Poglin, a blockchain-based battling game set in a fantasy world. The surge in PROM’s price occurred shortly after this announcement.
A Comparison to the Overall Crypto Market
In contrast to PROM’s significant gains, the overall crypto market cap only increased by 0.2% in the past 24 hours and has experienced a nearly 5% decline over the past week.
A Strategic Partnership and Past Performance
Prom had previously announced a strategic partnership with DWF Labs, an investment firm focused on web3 technologies. Despite its recent surge, PROM is still down by approximately 93% from its all-time high of $106 reached in April 2021.
Hot Take: PROM Sees Impressive Surge Amidst Crypto Market Stagnation
The native altcoin of the gaming-focused NFT marketplace, PROM, has defied the lackluster performance of the overall crypto market with a surge of over 35% within 24 hours. This significant increase in price coincided with Prom’s announcement of a new game listing for Poglin, a blockchain-based battling game. While the exact factors behind this surge remain unclear, it showcases the potential for growth and excitement within the gaming NFT sector. As PROM continues to establish partnerships and navigate the volatile crypto market, its performance will be closely watched by investors and enthusiasts alike.
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