The Centrality token has experienced a major rise in its value as it increased in value by around 30 percent over the past week. This comes as the currency appears to be getting past a down period. However, this comes as there are no new developments with Centrality, but at the same time this does not appear to be a sign of any surprising moves to inflate the price.
Centrality experienced a rise in its market cap from $90 million to $130 million this week. This is a very small portion of what the currency was once worth, but it shows that there is a strong potential for the currency to keep rising in value.
Centrality had a market cap of around $310 million with tokens being worth around 45 cents each. The currency has since experienced a progressive decline in its value while its trading volume had stayed consistent for the most part. But the decline in its value had started to slow down to the point where the currency was not moving downward any further in the past week. This led to the recent growth in the currency in the last few days.Advertisement
As of the end of the trading day on Thursday, the value of Centrality had moved to $130 million market cap with tokens being worth about 16 cents each. The trading volume has gotten to around half a million dollars in value during that time period.
What Is Centrality?
Centrality is a blockchain-based system based out of Auckland. The group has been organized to support an online business system where a consumer can handle peer-to-peer transactions and other tasks online with a singular login. That is the blockchain system will allow a person to use one login account to get access to all the various smaller accounts that one holds.
Centrality has around sixteen apps for its use at the moment. The project is expected to expand to cover more apps in the future as the system for the blockchain continues to be recognized.
The token associated with Centrality has been available for trading since March. The token has not been easily accessible to most, as it is currently listed only on the Cryptopia exchange. Centrality is expected to get its token out to more exchanges in the future, thus potentially improving upon how well the currency can grow in value.
The important consideration to see over the growth of Centrality is that the blockchain group associated with it has not made any major announcements. Although the rise in the trading volume has not been extreme enough to make this look like a pump-and-dump move, the fact that nothing new is coming about has raised some questions. Investors are encouraged to take a look at how Centrality will continue to move in value and how it will respond to the sudden changes that have come along.
The value of Centrality may still be influenced by future listings and the ongoing expansion of the system to bring in more apps that it can work with.