Altcoin Skyrockets Nearly 300% After Big Announcement
UpBit has announced that it will support Access Protocol (ACS), a new content monetization crypto project built on Starknet.
This announcement caused a surge in ACS’s price, which saw a 296% increase from a low of $0.00467 on the day of the announcement on March 6th to a high of $0.0185 the following day. At the time of writing, ACS is trading for $0.0122.
UpBit is the largest cryptocurrency exchange in South Korea by trading volume. Trading of ACS on the UpBit platform began on March 7th. The listing announcement generated significant interest in the cryptocurrency community and increased the price.
Access Protocol is designed to provide content creators with the ability to create their own paywall on their site and offer premium content to supporters, according to the project’s website. The platform allows subscribers to use ACS tokens to enter creator pools that give them access to content. Subscribers and content creators both receive daily rewards in a 50-50 split.
“Users subscribe to creator ‘pools’ with the ACS token, unlocking a set of content or services determined by the creator. In addition to receiving content, when you subscribe to a creator pool, you and the creator split a daily reward,” the project’s website explains.
This move by UpBit follows its recent listing of Shiba Inu (SHIB), a Dogecoin (DOGE) rival. The SHIB community is gearing up for the beta launch of Shibarium, a layer-2 project. UpBit’s decision to list ACS will likely increase interest in the project and attract more users to the platform.
Access Protocol is one such project that seeks to enable content creators to monetize their work and connect with their supporters directly. As more investors and users become aware of the potential of these technologies, we will likely see more projects like Access Protocol emerge and gain traction in the market.