- pNetwork token price has suddenly surged, surprising investors.
- PNT price surged over 100% in 24 hours over months of limited movement.
- pNetwork is a cross-chain solution related to decentralized finance (DeFi).
pNetwork token (PNT) price has surged by up to 167 % over the last week. This movement comes after months of limited trading. The surge caught many investors off guard.
105% of the rise occurred in the last 24 hours with over $169,044,875 in trading volume. PNT rebounded after a price decline which started in August last year, despite minor occasional shifts.
pNetwork is a cross-chain solution that did not attract the most investors, despite being related to decentralized finance (DeFi). In fact, it was showing signs of being deep in bear territory before the surge.
Since September, PNT was trading below $1. In fairness, PNT saw a small market movement last December 2020 before hibernating again.
Come January 31, 2021, and the crypto world saw PNT spike up to $6.37 on Binance exchange. On average, CoinGecko aggregated the trade data from different exchanges to $2.2.
At the time of writing, PNT is trading at $1.21, according to CoinGecko. This is a staggering 167.6% increase in the last 7 days.
Some have speculated that the movement is related to WallStreetBets, but there is no conclusive proof yet to corroborate the theory.