Sologenic established its all-time high at a price level of $6.07 towards the end of November, after which the market for the token began a bearish move to the downside. However, the recent price movements show that the cryptocurrency has effectively moved out of market corrections and is on a steep uptrend. At the time of writing, the cryptocurrency stands at a price level of $5.55. The price has surged by more than 10% during the past twenty-four hours with an indication of a possible breaking of the ATH as the current price is skirting close to the ATH. The daily trading volume of the cryptocurrency has also increased by more than 30%. Sologenic is currently ranked at #215 in terms of capitalization.
What is Sologenic?
Ripple is one of the top projects in the cryptocurrency market. It is building an ecosystem that is filled with equally top-notch projects and Sologenic is one of them. Being based on the blockchain of the eighth largest cryptocurrency has its own advantages which the project has been enjoying. Apart from having the usual high-throughput and high scalability – thanks to XRP’s ledger – SOLO has a unique proposition for the crypto market. It is disrupting the digital asset trading industry with the tokenization of securities, crypto assets and NFTs. The users have access to the assets of more than 30 global exchanges. Stablecoins are created through the platform which are backed by the real-world asset they are denoted after.
Moroever, Sologenic also has a decentralized exchange in order to enable highly efficient trading with minimal fees and costs. It also has a Liquidity Provider Reward Program that offers rewards up to 20% per year. The ecosystem of the cryptocurrency is growing at a phenomenal pace with the core team dedicated towards its expansion.
Ecosystem updates
One of the major channels that the project has been using for community engagement is through airdrops. An airdrop has been announced for the community of XRP and SOLO holders and UpBit Global has also been onboarded for the airdrop. The snapshot for the airdrop will be taken on 24th December. Moreover, the team has also teased the community with upcoming listings of the token along with other airdrops.
Sologenic plays particular focus on its community and a recent program has been launched through which the team is aiming to translate SOLO’s DEX related websites to other common languages from English. Moreover, GateHub – a popular crypto wallet – has also onboarded SOLO token.
