AI Summary
- Peaq, a DePin cryptocurrency project, has soared 50% over the past 7 days making it one of the market’s biggest movers in the last 24 hours.
- The price surge comes as Peaq has been onboarding new projects onto its layer 1 network which is powering the ‘machine economy’.
- Peaq is a DePin (Decentralized Physical Infrastructure Network) focused layer 1 network that is made up of multiple DePin projects, powering the machine economy.
- Peaq is up 23% over the last 24 hours atefter surging for the majority of November, leading into December with a strong support level.
Peaq, a DePin cryptocurrency project, has soared 50% over the past 7 days making it one of the market’s biggest movers in the last 24 hours.
With Bitcoin taking a breather, some altcoins have been affected and fallen to new support levels. Despite this, Peaq has constituted to gain.
The price surge comes as Peaq has been onboarding new projects onto its layer 1 network which is powering the ‘machine economy’.
DePin altcoin is biggest gainer in slowed market
Peaq is a DePin (Decentralized Physical Infrastructure Network) focused layer 1 network that is made up of multiple DePin projects, powering the machine economy.
Trusted by MasterCard, Bosch, NTT and Airbus, users and businesses can utilize the Peaq network to create and build DePin products with code using Peaq’s SDK(Software Development Kit).
In a recent showcase, DePin projects based in various sectors including food delivery, gaming, navigation and computing are being onboarded to the Peaq ecosystem.
Featured projects include MapMetrics, a drive-to-earn cryptocurrency navigation application that rewards users in crypto whenever they drive using their app. Another addition is aZen Protocol that outfits apps and computing resources into fractional NFTs that can then be used for computing tasks.
The Peaq token launched in November on 12 centralized exchanges including BitGet and KuCoin with a listing price of $0.10.
Peaq token insights
Peaq is up 23% over the last 24 hours atefter surging for the majority of November, leading into December with a strong support level.
The token reached a new all-time high of $0.75 on December 10th before falling to where it currently sits at $0.62. A previous level of support in the $0.50 – $0.57 levels could be reached in its current downturn.
Despite falling 7% over the past few hours, the token has remained a top gainer since Bitcoin fell breafly under $100k, causing multiople altcoins to fall around 10% – 18%.
