Key Takeaways:
- CyberConnect token jumps 130% on Aug. 29-30.
- The correction could continue due to dropping trading volumes.
- Binance Cyber Quiz pumped the coin.
YEREVAN (CoinChapter.com) — CyberConnect’s same-name token price corrected down 12% on Aug. 31, after a 130% rally the previous two days. As a result, the price action slid to $8.2 ahead of the New York session on Aug. 31, after an all-time high of $9.3 in the Tokyo hours.
Meanwhile, the correction could continue, considering the decrease in trading volumes. In the last 24 hours, in dissonance with the 15% increase in Cyber token’s market cap, the trading volumes dropped by 35% in the same period.
If the CyberConnect price drops further in the coming hours, the likely target will stand at $6.9, or 15% below the current value.
Cyber Quiz pumps the Cyber coin.
Meanwhile, the initial price increase could have been triggered by Binance’s launch of its Simple Earn Cyber Quiz promotion.
The first 45,000 new Simple Earn users who read the article on CYBER and complete the quiz with all the correct answers during the Promotion Period, will be eligible to each receive a free CYBER Locked Products position [$50,000 in CYBER].
announced Binance.
Binance also specified that the promotion period would stretch from Aug. 29, 10:00 (UTC) to Sep. 12, 10:00 (UTC), and users may not redeem their digital assets/digital currencies in advance.
The trading platform noted that it reserves the right to “disqualify any participants that, in its reasonable opinion, are acting fraudulently or not by any applicable terms and conditions.” Binance additionally reserves the right to cancel or amend the Promotion or Promotion Rules at its sole discretion.
