A Solana-based alternative cryptocurrency (altcoin) called Access Protocol ($ACS) has seen its price surge over 200% after a major South Korean cryptocurrency trading platform announced it was listing its token.
According to a recently published announcement from Upbit, a Seoul-based exchange Upbit, which has been registering more trading volumes than any other exchange in the country after Binance, the Solana-based altcoin is being added in a trading pair against the flagship cryptocurrency Bitcoin ($BTC).
The price of ACS soared nearly 300% on the day of the announcement, from $0.00467 to a $0.0185 high, before moving back down to $0.0123 at the time of writing, representing a rise of over 200% to date.
Built on top of Solana and Ethereum scaling solution Starknet, Access Protocol is a new content monetization crypto project. The project aims to give content creators the ability to create their own paywall on their site and offer premium content to supporters, providing both subscribers and content creators with daily rewards in a 50-50 split.
The ACS token is used by subscribers to enter creator pools and access content, while also earning them daily rewards. This new model for content monetization has captured the attention of investors and Upbit’s support has only fueled ACS’s rapid ascent.
As CryptoGlobe reported, earlier this year meme-inspired cryptocurrency Shiba Inu ($SHIB) led the “trending” charts on popular crypto aggregator websites after it was listed on Upbit. The listing came ahead of the beta launch of its layer-2 project Shibarium.
The rise of Access Protocol and other altcoins like Shiba Inu demonstrates the growing appetite for alternative cryptocurrencies beyond the more traditional digital assets like Bitcoin and Ethereum. This rise shows investors’ appetite for up-and-coming projects hasn’t waned, despite the bear market.
Featured image via Pixabay.