HOOK price defies gravity as Hooked Protocol activity rises

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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 increased 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 major product is thought 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 potential for customers to earn rewards by way of their Proof of Work (PoW) mechanisms by contributing to its platform. Further, customers can refer different folks 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 the reason why the HOOK price has defied gravity prior to now few days. First, the developer began distributing the primary batch of airdrops on Thursday. According to BscScan, there are actually tokens price $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 will probably be 5 extra airdrop batches within the coming months.

The final 5 airdrops will probably be for present 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 probably the most lively apps.

https://twitter.com/HookedProtocol/status/1603266717282889728

Hook price prediction

The hourly chart exhibits that the HOOK price has been in a consolidation section prior to now few days. It has been hovering on the essential stage of $2.0 This price is alongside the 25-day and 50-day transferring 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 keenness of the airdrop fades. If this occurs, the token will possible drop to about $1.50.

HOOK/USD chart by TradingView