The price of Wanchain (WAN) has jumped as much as 15% this week before receding after the team behind the project released a tool that made monitoring validator nodes easier on its blockchain.
As covered, the company announced last month its users were to start earning rewards for securing the Wanchain network earlier this month, as WAN transitioned from a Permission Proof-of-Work (PPoW) consensus algorithm to a Proof-of-Stake consensus algorithm on September 3.
At the time Wanchain launched Validator nodes on its network, allowing users to “stake WAN tokens on Wanchain’s main network,” and encouraging WAN adopters to stake their coins before the PoS consensus was activated.
This week the Wanchain team released a tool to help Validator node monitoring, which provides validators information about their nodes, including CPU, disk, and memory usage, block delay, and coinbase balance. The tool also generates alerts and reports to help validator’s stay on top of what’s going on.
Seemingly because of the new tool, the price of WAN surged a further 11% in the last 24-hour period, reaching a high of 0.0000282 BTC this week, before correcting. The price surged as trading volume exploded, CryptoCompare data shows.
Despite WAN’s positive price performance in the last few weeks, the cryptocurrency is still down about 79% in the last 12 months, as it hasn’t yet recovered properly from the so-called crypto winter, which saw the price of most cryptoasset drop by well over 80%.
On social media many appear to still be bullish on Wanchain, supporting the WAN token to be listed on more exchanges – including Binance’s soon-to-be-launched U.S. trading platform.
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