- DREP price surged after a surprise announcement on Twitter.
- The token rose over 20% and set a new all time high.
- The announcement seems to be part of the DREP 2.0 product line.
Decentralized Reputation System (DREP) price surged over 20%, setting a new all-time high (ATH) after a recent surprise social media post. Based on CoinGecko data, the DREP price reached $0.01880277 on March 15.
Prior to the price surge, DREP posted a surprise post on Twitter.
— Official DREP (@DrepOfficial) March 15, 2021
The news seems to have pushed the already bullish crypto higher, thus helping it set the new ATH. In fact, DREP price has risen 107.9% over the last month.
However, the ‘killer product’ seems to be part of the wider DREP 2.0 product line reported in February. With the 2.0 upgrade, DREP will be moving from frictionless blockchain toolkits to DeFi Credit Protocol.
In addition, as part of the upgrade, the DREP token is also getting an upgrade via a token swap that will take up to 6 months. Under the upgrade, the DREP token will become the primary solution for fee payments and valuation of the entire DREP network.
DREP helps its users quantify and monetize their reputation value. The blockchain aims to address the issue of fake news and digital identification which is prevalent on the internet. Thus, as the DREP token takes a more central role in the credit-data network, its demand will also rise.
DREP is not the only blockchain to benefit from an upgrade. Cardano also surged after announcing its now successful Mary upgrade.