3 Reasons Why Secret Network (SCRT) Price Skyrockets 50% Today

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As a seasoned researcher with a keen eye for emerging technologies and a knack for spotting trends, I can confidently say that Secret Network (SCRT) is quickly becoming a force to be reckoned with in the crypto world. The recent events surrounding this privacy-focused blockchain platform are nothing short of impressive.

Today, Secret Network (SCRT) experienced a significant 50% surge in value, primarily due to three significant advancements. Being selected for the NVIDIA Inception program, which nurtures cutting-edge tech startups, underscores increasing trust in its privacy-centric offerings.

Furthermore, the introduction of Binance‘s SCRT perpetual contracts with high leverage has significantly stimulated trading activities. In combination with a steep increase in open positions on leading platforms, this trend is igniting growing investor enthusiasm and propelling SCRT to record-breaking heights.

Secret Network Joins NVIDIA Inception

Secret Network has become part of NVIDIA’s Inception program, an initiative aimed at assisting young technology companies that are pioneering advancements in artificial intelligence (AI) and blockchain technologies. This partnership grants Secret Network access to AI training programs, expert guidance, and connections within the venture community, thereby enhancing its potential for growth and development.

As a crypto investor, I’m thrilled about the recent partnership that boosts Secret Network’s Decentralized Confidential Computing (DeCC) capabilities. This collaboration paves the way for innovative privacy tools to be integrated into Web3 applications, making data handling in blockchain environments more secure and private than ever before. Lisa Loud, the Executive Director, has highlighted this initiative as a game-changer, set to revolutionize the way we manage sensitive data within the blockchain ecosystem.

Binance Launches SCRT Perpetual Contracts

On Binance, a leading global cryptocurrency trading platform, launched USD-collateralized Secret Network futures contracts, offering up to 75 times leverage. The addition of this asset on Binance promptly sparked a 55% increase in SCRT’s price, indicating Binance’s continued backing. This dramatic rise suggests growing enthusiasm from investors, causing speculation about whether the upward trend will persist.

Beyond this action, it significantly increases liquidity and strengthens investor trust, thereby making Secret more attractive in the market. With heightened trading on Binance, the use of SCRT is expanding steadily.

Open Interest Jumps 1300%, Fueling SCRT Price Surge

As a crypto investor, I’ve noticed some exhilarating news about Secret Network (SCRT) today. According to Coinglass data, the open interest has skyrocketed an astounding 1300% in the last 24 hours, suggesting increased market action. On Binance, this surge reached over 905%, and other prominent platforms like Bitget and Kraken are also showing heightened interest. This escalating demand has propelled SCRT’s price to unprecedented highs.

To add to that, SCRT is presently valued at approximately $0.4765, representing a 50% increase over the last 24 hours and a remarkable jump of 134% during the past week. Its lowest point in the same period was $0.3313, while reaching a high of $0.5488. With a substantial trading volume of around $107 million within the last day and a market capitalization of $138 million, this digital currency appears to have promising prospects for further growth.

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2024-11-22 15:46