ARC Governance (ARCX) is up more than 28,00,000% in a matter of hours, from a low of $0.34 to $9,991.70, as data from Coinmarketcap shows. However, the coin erased almost 90% of the gains and is currently trading at $906.13.
The token has seen a 24-hour trading volume of $264,815. ARC governance is down 9,000% in the last 24 hours.
The volatility in cryptocurrency prices has been wild in recent days with the squid-game based coin SQUID, Kokoswap, Ethereum meta rising thousands of percentage points in a matter of hours.
Ethereum meta has recently gained over 2,13,000% in 24 hours, while Cocoswap, again a little-known cryptocurrency, has gained a whopping 71,000% over the same time period as Ethereum meta.
The unprecedented price change in cryptocurrency is becoming a latest trend these days. It also indicates the risk and volatility in crypto-based trading.
With huge price volatility becoming the norm in little-known cryptocurrencies, experts raised concerns and advised investors to be wary of picking up such tokens.
ARCx is a decentralized scoring protocol that powers on-chain identity through DeFi passport issuance. The first page or element in DeFi Passport is an on-chain credit score. This initial score is issued to an identity based on the address’s assessment of on-chain activity.
The main function of the ARCx token is to be a self-governing mechanism for the ARCx protocol. The purpose of the token is to align incentives among various stakeholders within the ecosystem to promote sustainable development and fair governance.
The token currently allows token holders to vote on spending from the treasury. In the future, ARCX token holders will be able to vote to receive cash flows generated from the network and participate in native on-chain governance to upgrade the protocol.
Never miss a story! Stay connected and informed with Mint.
download
Our App Now!!
,