This token spiked 450% after upgrading DeFi and managing chain data

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2021-03-24 17:32:45

The implementation of new identity management platforms and towards DeFi seems to have triggered the price of this token to skyrocket 450%, making it to the list of the biggest gainers in the end of the consolidation. of Bitcoin, towards a new uptrend.

Data has become one of the most valuable resources on the planet. Analyzing, collecting and monetizing it has helped companies like Google and Facebook gain enormous foothold in the eyes of investors. Coming with risk and privacy protection is one of the biggest challenges facing data companies and manufacturers.

A cryptocurrency project focused on helping individuals and companies manage personal data is SelfKey (KEY), a blockchain-based identity platform that seeks to revolutionize the KYC process and demonstrate identity. separate identity.

As blockchain technology is widely adopted, the need for ways to secure and transmit identity information becomes increasingly important. The recent developments of SelfKey can make the project one of the pioneering tools in providing relevant tools to the crypto community.

KEY prices have risen 470% in the past month, climbing from a low of $ 0.00495 on Feb. 17 to a high of $ 0.0283 on March 20 as trading volume surged 450% over 24 hours.

Selfkey / USDT price chart.  Source: TradingView
Selfkey / USDT price chart. Source: TradingView

Trading activity and community excitement began to increase in early February when the project began discussing the SelfKey exchange market, also known as KeyFi, a DeFi platform focused on data protection. user data.

After the initial price breakout peaked on Feb. 21, KEY entered a consolidation period that lasted until March 9 when the entire decentralized financial sector saw a drop in token prices. and operating protocol. Since March 9, the KEY price has increased by more than 280% as the project attracted community members to participate in discussions related to identity management, SelfKey funds, SelfKey identity wallet, and ID SelfKey.

DeFi’s arrival over the past year has been a driving force behind growth in the crypto space and shows no signs of slowing down in the foreseeable future. As companies and mainstream users begin to explore what DeFi has to offer, SelfKey could see even more advantages if the project’s identity-protecting products gain traction.

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