The native token of Solar Network, SXP, is causing a frenzy in the cryptocurrency world, with its jaw-dropping performance over the past seven days. In just one week, SXP’s value skyrocketed by more than 200%, making it the most profitable asset among the top 100 cryptocurrencies by market capitalization.
As of today, according to CoinGecko, the current SXP price stands at $0.8350, with a 23.7% 24-hour rally.
As SXP’s value surged by an astonishing 223% over the last seven days, volumes on key crypto exchanges in South Korea exploded, revealing a growing appetite for this token in one of the world’s most significant crypto markets.
Reason Behind The Sudden Solar Network (SXP) Surge
The SXP coin kicked off its impressive bullish rally, thanks to a game-changing move by Solar Network, which it announced on Twitter.
According to a recent blog post, the Solar team launched a brand-new block explorer called Solarscan, which promises to revolutionize the way users interact with Solar Core 5.0, their newly designed wallet set to be released later this year.
Say goodbye to the old explorer and hello to Solarscan – the latest member of the @SolarNetwork ecosystem!
Solarscan offers dynamic, immersive views of the blockchain, real-time updates, and more.
Click below to learn more!https://t.co/I45BkifOGb#Solarscan #SolarNetwork #SXP pic.twitter.com/iY1jSzuph5
— Solar (@SolarNetwork) March 28, 2023
With features such as real-time updates via Core’s WebSocket API layer and lightning-fast SQLite3 database, Solarscan offers a sneak peek into what Solar Core 5.0 will bring to the table.
As Solarscan continues to evolve alongside Solar Core 5.0, users can rest assured that they will always have access to the latest and greatest features.
However, it is important to note that Solarscan is not affiliated with or endorsed by the Solar Blockchain Foundation, the post notes.
Solar Network: Major Player In South Korea’s Crypto Market
The Solar Network’s SXP token is making waves in the world of cryptocurrency, with an impressive surge in trading volume on Upbit, one of South Korea’s leading exchanges.
According to the latest figures from CoinMarketCap, SXP has taken the top spot in terms of trading volume, accounting for a whopping 21.4% of the exchange’s total turnover of $1.88 billion.
But that’s not all – in just one week, Korean investors have traded an astounding 1.3 billion SXP tokens on Upbit, indicating a growing interest in this hot new crypto player.
SXP total market cap currently at $449 million on the daily chart at TradingView.com
And with SXP already valued at KRW 1,000, up from its starting point of KRW 358, it’s clear that Solar Network’s token is quickly gaining traction in the highly competitive South Korean market.
The question is, will SXP continue its upward trajectory and cement its position as a major player in the world of cryptocurrency? Only time will tell, but one thing is for certain – this exciting new development has put the Solar Network and its SXP token firmly in the spotlight.
-Featured image from PortalCripto