Vibe has become the latest cryptocurrency investors are talking about. Vibe has increased in value by about 400% in the past day.
Vibe, a cryptocurrency that focuses on live music and on getting tickets for concerts, saw its market cap value rise up to around $365 million. This makes Vibe among the hundred most valuable cryptocurrencies in the world.
A single Vibe coin can be bought for around $2.10. There are nearly 173 million of these coins available with a limit of 267 million coins in terms of how many can be mined in the history of the product.
The currency itself has been rising in value over the past year. The currency has gradually risen from about 20 cents a year ago to around 40 cents just a few days ago. However, the value of the currency has blossomed in the past day to where it is more than four times the value of what it was just recently.
A New Listing
The key part of why Vibe has risen in value so much comes from the Binance cryptocurrency exchange listing the token. The new listing helped Vibe to become a more visible and credible currency. This especially comes off of the heels of an ICO that was immensely popular when the currency was first announced.
Buyers have quickly invested in vibe thanks to this listing. This led to Vibe’s volume increasing in value. The 24-hour volume for Vibe was around $170,000 before this huge move. That total has quickly risen to more than $400 million.
What Is Vibe?
Vibe is a token that links to Vibehub. This is a website that offers information on live music performances. It has details on what bands and performers of all genres are doing.
With this, performers are ranked on the site based on how popular they are online. People can use tokens to buy merchandise relating to these acts or to get information on music contracts.
Vibe tokens are expected to be made as viable currency for paying for concert tickets. It is uncertain as to when they would be used for this intention though.
The currency had become popular during its initial coin offering a while ago. The ICO sold out in about five minutes and raised $10 million. Charlie Shrem, one of the top figures in today’s bitcoin community, was one of the biggest supporters of Vibe when it started up.
Like with any other cryptocurrency that has suddenly become popular, Vibe has been highly volatile on the trading market. The currency reached a high value of $2.70 per coin during the middle of Wednesday’s trading activity. That total dipped down to $1.85 not long after. This could be from people selling off the currency quickly after making a sizeable profit off of it.
The currency even moved up to $2.60 not long after that before reaching the $2.10 market it got to at the end of the trading period. It is unclear as to how the value of Vibe will change, but the newfound popularity of the coin ensures people will want to watch for it.