Why did Contentos (COS) price shoot up on Thursday night?

6 months ago 98
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The terms of Contentos (COS) changeable up by implicit 30% yesterday (Thursday) nighttime propelling its terms from somewhat supra $0.26 to a precocious of $0.03381 successful 4 hours.

The terms has, however, dipped by astir 8% to astir $0.02638 successful the aboriginal hours of Friday morning.

If you are entering the marketplace now, you volition inactive find it to beryllium rather choppy due to the fact that of past night’s movements. But what caused the immense COS terms movements?

Below is simply a summary of the events that led to the terms hike.

What Is Contentos?

Before we delve into the origin of yesterday’s terms hike, it is important to archetypal explicate what Contentos is conscionable successful lawsuit it is your archetypal clip proceeding astir this blockchain and its token, the COS.

Contentos is simply a decentralized planetary contented ecosystem that strives to incentivize contented instauration and planetary diverseness and instrumentality the rights and worth of the contented to users. COS is its autochthonal token and it is simply a Binance Chain (BEP2) token.

Its imaginativeness is to physique a decentralized integer contented assemblage that allows contented to beryllium produced freely, distributed, traded, and rewarded arsenic good arsenic protecting the rights of the author.

Contentos level has features that see a P2P Revenue organisation strategy with a decentralized gross strategy that keeps the worth of instauration open, transparent and returns rewards straight to users. Moreover, they person Decentralized postulation organisation that helps to compensate the users for their enactment and encourages them to stock and beforehand contented to the close audience.

Additionally, Contentos besides has traceable copyright transactions which is simply a blockchain exertion that helps to authenticate copyright and to afloat way the transactions. It has besides an immutable recognition strategy that enables users to beryllium liable for their recognition scores that are calculated based connected each publication they make.

One of the biggest apps successful Contentos is its COS.TV, which is the archetypal video level to beryllium powered by Contentos blockchain. Using this app, users tin ticker their favourite videos, stock content, articulation the ecosystem with their friends and besides get COS rewards

Why did Contentos (COS) terms sprout up?

The main crushed COS terms changeable up yesterday nighttime was due to the fact that of the announcement astir their VEST Loans Bidding event, wherever they mean to allocate $50 cardinal VESTS . The lawsuit is planned to instrumentality spot implicit successful 2 rounds.

The lawsuit is designed to let users to get loans and gain precocious play BP voting rewards and it volition lone necessitate users to deposit a definite magnitude of COS to bid.

The authoritative announcement stated:

‘’It’s wide that the contents ecosystem is growing, and a $100 cardinal marketplace headdress is comparatively undervalued for the project. As such, it comes arsenic nary astonishment that we’re seeing bullish momentum for Contentos arsenic traders are flocking to the platform.’’

Earning VEST tokens for watching videos is simply a large exemplary that was besides utilized by crypto projects similar the Steemit that was considered the pioneer of blockchain-based contented platforms. This exemplary incentivized idiosyncratic interaction.

Last week, the terms of Contentos accrued by implicit 30% owed to their concern with the Japanese NFT Entertainment and Experience task HUG HUG, arsenic reported connected Contentos.

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