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In recent days, the ARK cryptocurrency has been making headlines in the ever-evolving world of digital assets. While cryptocurrency markets are known for their volatility, ARK has shown a steady upward trajectory, and there are compelling reasons behind this surge.
The price of the ARK token has increased by more than 166% over the past month and is still showing signs of a strong bullish trend.
ARK token price chart
Ark’s focus on interoperability
ARK stands out from the cryptocurrency crowd due to its unique focus on interoperability. In a landscape where blockchain networks often exist in isolation, ARK employs SmartBridge technology to connect disparate blockchains, besides the inclusion of smart contracts and decentralized applications (dApps).
This means ARK can seamlessly communicate with other networks, enabling the exchange of data and assets without intermediaries. This feature has garnered significant attention, as it addresses a critical challenge in the blockchain space.
Customizable blockchain solutions
Another driving force behind ARK’s rising value is its ability to offer customizable blockchain solutions. It empowers developers and businesses to create their own tailored blockchains, fostering innovation across various industries.
From finance to gaming and logistics, ARK’s versatility makes it an attractive platform for a wide array of applications.
In addition, ARK employs a Delegated Proof-of-Stake (DPoS) consensus mechanism and efficient and eco-friendly protocol that has garnered favour in the crypto community. With a smaller group of trusted nodes (delegates) validating transactions, ARK’s network is both secure and scalable.
This has resulted in a thriving ARK ecosystem, with the ARK Public Network serving as a live implementation of its technology and Node operators acting as delegates to ensure the network’s robustness.
Launch of Ark Perpetual Futures
Last but not least, two major cryptocurrency exchanges have launched perpetual futures trading for Ark (ARK).
The first exchange to launch ARK perpetual Futures was Deepcoin, which launched ARKUSDT perpetual contracts three days ago, providing traders with opportunities to speculate on the price movements of Ark (ARK).
Today, KuCoin has also introduced perpetual futures trading for Ark (ARK) trading against USDT, allowing clients to speculate on the price movements of the coin without owning it.
@KuCoinFutures has Launched @ArkEcosystem $ARK USDT-M Perpetual Contract
📅 22 September 2023, 8 AM (UTC)
👉 Trade now: https://t.co/iXJZlqtXDO pic.twitter.com/JRIHxaMVbl— KuCoin Futures (@KuCoinFutures) September 22, 2023
The launch of the perpetual Futures has certainly increased ARK’s trading activity, which is the most likely reason as to why the price is skyrocketing. According to data on Coinmarketcap, Ark’s trading volume surged by over 6% to $240,761,500 on September 22.
The post Here’s why the price of ARK cryptocurrency is rising appeared first on Invezz.
Disclaimer
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