Cryptocurrencies, which are believed to be an important part of our lives in the future, are becoming more and more popular day by day. However, there has been a major downturn in the market lately, especially after what happened in the FTX stock market. This caused Bitcoin to fall back to 16 thousand levels.
Yet there are still emerging cryptocurrencies. Perhaps the most notable of these is SNM, which has gained high value over the past 24 hours. SNM, the token of the SONM platform, in the last 24 hours up to 5000% experienced a recent increase. The cryptocurrency, which trades at $0.20 overnight, is hovering around $10.01 at the time of writing this news. Of course, it should be emphasized that it is necessary to be careful with such fast-rising cryptocurrencies.
What is SNM Coin? Why is it rising?
SNM, which is also traded on Binance, belongs to the SONM platform as mentioned. SNM was launched in 2017 by Alexei Antonov and Sergei Ponomarev. According to Uzmancoin offering decentralized cloud services and users in the project, which raised $42 million from token sales in its first year, Possibility to rent or use equipment has been offered. It is also reported that the platform is very active and used by many people.
So why has SNM increased so much in the past few hours? It is like that because as yet unknown. We see that no announcement has been made about the project in recent days. So there is no information as to why it has risen so much. In addition, the market value of SNM $444 million levels, total supply and circulating supply 44 million 400 thousand SNM Let’s add that.
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Source: Web Tekno
Jason Root is a blockchain enthusiast and author at Div Bracket. He provides comprehensive coverage of the latest developments in the world of blockchain, offering readers a unique perspective on the industry and its potential for revolutionizing various industries.