Cryptocurrency is well known for being a fast-paced, unpredictable environment. Even so, Viberate’s 400% rise within the last 24 hours has everyone on their toes.
According to CoinMarketCap, Viberate is currently sitting at a market cap of $405 million. While it may seem low, these coins were just introduced to trading in October.
What is Viberate?
Viberate’s crowdsourced live music and blockchain-based marketplace. It uses blockchain technology to match musicians with event organizers and booking agencies. Tokens are used to gain access to music industry contacts and purchase merchandise. Viberate hopes to eventually introduce the ability to purchase tickets.
What Caused the Climb?
Viberate’s ICO originally sold out in less than 5 minutes, raising $10 million. Vibe gained credibility once the Binance exchange added it to its trading options. Buyers jumped at the opportunity and pushed Viberate into the top 100 of all currently traded.