Alongside the biggest cryptocurrencies Bitcoin and Ethereum, the bullish Altseason—upward price movements of altcoins—continues to be visible this Spring. Surprisingly, ID, the Web3 Domain Network SPACE ID governance token, saw an incredible price growth of 89% in just 2 days. CoinMarketCap reports that the token increased from $0.4504 on April 13 to $0.994 on April 16, the new all-time high (ATH) for the coin.
At the time of writing, Space ID (ID) has a market capitalization of about $276 million and was trading at $0.968. With a jump of 23.84%, the token's 24-hour trading volume was $1,936,685,145.
What Is Space ID?
Space ID is a Web3 identity network which facilitates the acquisition and administration of domain names with blockchain technology. The platform debuted in September 2022 when its.bnb domain name service went live. Users were able to obtain decentralized identities on the Ethereum, BNB Chain, and Arbitrum thanks to the platform.
According to information on the official website, the Binance (.bnb) Domain Name Service on the Web3 platform registered 701,401 domains with 495,307 different owners. Second, it added 2,553,413 domains and 640,066 unique owners to its Ethereum (.eth) Name Service. Thirdly, 232,886 owners with 267,264 domains were registered via the Arbitrum-based.arb Name Service.
On March 22, Binance Launchpad officially opened for business. 100 million of the 2 billion total coins were given via the Binance Launchpad. Notably, it serves as a governance token, payment token, and staking coin in the decentralized identification network.
This news is republished from https://coinaquarium.io/
