• Wed. Jun 7th, 2023

New 40% Rally Of Ocean Protocol Was Backed By New Governance and Staking Features

Mar 4, 2021
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The new governance features of the Ocean protocol and the capability to farm OCEAN yokes are already serving as an improvement to the decentralized monetization platform.

The analysis, aggregation, and even collection of data have been some of the ways most companies like Google, Facebook generate their profits, having designed an assemblage of algorithms aimed at maximizing the data supplied by users for better optimization of their application user interface and the marketplace resident online.

Though the collection of data is the ultimate end, the turns of events in the past years have shown that the paramount thing in all is securing the data and ensuring the privacy of all users and customers under them.

The combination of the data collection and the great capability of securing its storage on a distributed ledger seems more like a round peg in a round hole thing, but blockchain projects like Ocean Protocol (OCEAN) focus on the monetization of those data.

Data from the Trading View Charts has shown that the price of the OCEAN token has risen to 240% in years as it rose from roughly $0.31 on the 1st of January to $1.38 on the 12th of February. The recent dip in BTC from its All-Time High – $58,300 has been a corrective measure for OCEAN, but the market is gaining a recovery; the altcoin has swung high to $1.19 on the 3rd of March.

The motivation for the New Rising

Considering the contributory factor to the performance and relevance of OCEAN, it can be traced to the new listings on major and popular exchanges, the integration of the new governance and staking features with OceanDAO, and of course, the rise in the market of the data sets where the holders of the token earn their reward.

Around March, OCEAN was listed on exchanges like Kraken, which happens to be the fourth in the raking of the largest crypto exchange. The announcement has caused an over 30% spike in the price from dipping to $1.19, and the trading volume saw a rise of about 246%.

Contributing to the rise is the new feature from OceanDAO. It is a funding project led by the community, and it allows the holders of the token to vote on the project that will receive any DAO grant, which will contribute to the building of the new feature, creating marketing outreach, and unlocking new data.

In all, the Government Features encourage the Community

The third motivating force for OCEAN is the expanding marketplace that allows the users (or holders) to earn a reward. This growing need has been a great force, but the inclusion of the new government features has proven to be a greater motivation for the rise.

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