Hooked Protocol price defied gravity as the builders began airdrop distributions. It additionally rose as the platform rose to the highest of the DappRadar rankings of the highest BSC chain networks. HOOK rose to $2, which was a lot greater than this month’s low of $0.10.
What is Hooked Protocol and why is it rising?
Hooked Protocol is an on-ramp layer that hopes to information the broad web3 adoption. Its primary product is understood as Wild Cash, which is a platform that gives quiz-to-earn and different gaming options with over 2 million customers.
It additionally makes it doable for customers to earn rewards via their Proof of Work (PoW) mechanisms by contributing to its platform. Further, customers can refer different individuals to earn rewards within the ecosystem. Wild Cash’s Android app has over 1 million customers and a 4.8 star ranking.
There are a number of explanation why the HOOK price has defied gravity previously few days. First, the developer began distributing the primary batch of airdrops on Thursday. According to BscScan, there are actually tokens value $187 million in its airdrop pockets.
This airdrop was meant to reward early supporters of the network on the Hooked Party Pass NFTs. It additionally helps the motivation of customers to proceed constructing on the community. There might be 5 extra airdrop batches within the coming months.
The final 5 airdrops might be for current Hooked Party Pass NFT holder and long-term neighborhood contributors. They will occur on the primary day of every month.
HOOK price additionally rose as it rose to the highest rating of the social section of DappRadar rankings of essentially the most energetic apps.
https://twitter.com/HookedProtocol/status/1603266717282889728
Hook price prediction
The hourly chart exhibits that the HOOK price has been in a consolidation section previously few days. It has been hovering on the necessary stage of $2.0 This price is alongside the 25-day and 50-day shifting averages whereas the Relative Strength Index (RSI) has risen above the impartial level of fifty.
Therefore, Hooked Protocol price will possible drop in the course of the weekend as the passion of the airdrop fades. If this occurs, the token will possible drop to about $1.50.
