Ocean protocol has been surging as December started; however, the cryptocurrency delved into market corrections as the bullish momentum could not sustain. After a steep downtrend, the token was able to reverse its trajectory and is currently trending upwards. At the time of writing, the cryptocurrency stands at a price level of $0.90. The protocol has garnered a gain of more than 20% during the past twenty-four hours while the weekly performance shows an increase of 17%. The daily trading volume has increased by a staggering 700% – indicating high interest in the token. Ocean Protocol stands at a market rank of #129 with the capitalization growing steadily.
What is Ocean Protocol?
This is considered to be the age of data and in the coming years, data is expected to become the currency. However, in the increasingly digital world there are a lot of privacy-related concerns. Ocean Protocol empowers users to unlock the full potential of their data by enabling them to monetize their data but at their own terms and conditionalities. This way, the protocol is also increasing access to previously inaccessible data for businesses in order to optimize solutions to the real-world problems. The network is building a data ecosystem while ensuring the security and privacy of data owners.
The year of scaling
Ocean Protocol is regarding the year as its “year of scaling”. The protocol has undergone some major developments during the year. During 2021, the network regards to have financed more than 160 data economy projects and the number will continue to grow in the upcoming years. Currently, the thirteenth iteration of its fund is going on. The protocol has made available $200K for data economy projects. The deadline for proposal submission is 4th of January. The projects that are funded contribute significantly to the sustainability of the protocol. The team is going full force with the fundings which, in turn, will translate into growth for Ocean Protocol.
The cryptocurrency has been listed by South Korea’s leading cryptocurrency exchange, Upbit Global, as the token surges in popularity during the current day. Further listing can also be expected from the protocol as demand for it increases. During the past week, Ocean Protocol also integrated with Crypto.com – one of the largest projects in the crypto market. The feed integration will allow users of Crypto.com to access technical updates, product launches and partnerships at Ocean.
