[New Coin] 1 POKT = ₿116.91 Satoshi - Is this a sustainable uptrend?
(Chart by TradingView)
On August 11th, the Ultimate Moving Average of Pocket Network (POKT) prices against Bitcoin fell to a low of almost ₿90 Satoshi. However, it suddenly jumped high and has since fluctuated up to the present day.
Meanwhile, the SuperTrend indicator has been bullish since August 12th.
However, the Squeeze Momentum indicator, which had been bullish since August 10, has recently turned neutral, which could be a sign that the market is about to reverse course.
Pocket Network (POKT) token's price against Bitcoin has been performing well in recent days. Is this a sustainable trend?
Let's be aware of the current POKT/Bitcoin market conditions.
About Pocket Network (POKT)
Pocket Network (POKT) is a decentralized blockchain data platform that provides reliable, performant, and cost-effective access to blockchain data for Web3 developers. Pocket Network uses a Proof-of-Stake (PoS) consensus mechanism to coordinate and distribute data at scale.
Pocket Network nodes act as the middle layer that connects the protocol's 50+ supported blockchains with their ecosystems of dApps that require data from the chain. The network is permissionless, meaning anyone can run a node and participate in the network.
The POKT token is the native utility token of the Pocket Network protocol. It is used for staking nodes on the network, in order to service blockchain data requests and earn POKT rewards. POKT tokens can also be used to access the Pocket Portal, in order for developers to get network throughput via staking POKT tokens.
Pocket Network is a key infrastructure layer for the Web3 ecosystem. It provides a reliable and scalable way for dApps to access blockchain data, which is essential for building decentralized applications.
Here are some of the benefits of using Pocket Network:
- Reliability: Pocket Network is a decentralized network, which means that it is not subject to single points of failure. This makes it a more reliable way to access blockchain data than centralized solutions.
- Performance: Pocket Network uses a PoS consensus mechanism, which allows it to scale to meet the demands of high-traffic dApps.
- Cost-effectiveness: Pocket Network is a cost-effective way to access blockchain data. Developers only pay for the data that they use, and there are no hidden fees.
If you are a developer building a dApp that requires access to blockchain data, then Pocket Network is a great option. It is a reliable, scalable, and cost-effective way to get the data you need.
Here are some of the notable partnerships that Pocket Network has made:
- NEAR Protocol: Pocket Network is the official data provider for NEAR Protocol.
- Solana: Pocket Network is a key infrastructure partner for Solana.
- Terra: Pocket Network is a key infrastructure partner for Terra.
- Avalanche: Pocket Network is a key infrastructure partner for Avalanche.
- Polygon: Pocket Network is a key infrastructure partner for Polygon.
These partnerships are a testament to the growing adoption of Pocket Network by the Web3 ecosystem.
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