Advertisement
AD

Main navigation

Binance-Backed Highstreet (HIGH) Token Gains 200%, Here's Reason

Advertisement
Mon, 30/01/2023 - 15:13
Binance-Backed Highstreet (HIGH) Token Gains 200%, Here's Reason
Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

According to CoinGecko data, HIGH, the token of Highstreet, is up 142% in the last seven days. The token also ranks among the top gainers among the top 500 cryptocurrencies by market capitalization, up 16% in the last 24 hours to $2.97.

Advertisement

This comes as the market recorded losses in the last 24 hours, with Bitcoin and the majority of altcoins trading in the red at press time.

Sentiment is mixed as investors await the Fed's next meeting, which will conclude with the central bank's latest interest rate decision on Wednesday.

In the last 30 days, HIGH has pulled off gains of 228%. According to on-chain data provider Lookonchain, "The price of HIGH increased nearly 200% after Binance CEO, CZ said that binance would prefer to invest in other virtual reality or metaverse games."

A scroll through the official Twitter feed of Binance Labs Fund reveals discussion about metaverse since the start of the year. From Jan. 16 to 20, Binance held an inaugural metaverse demo in collaboration with High Street, League Kingdoms, The Sandbox, Space and Ultiverse.

Highstreet raised its first seed round from investors such as Mechanism Capital, Cherubic Ventures, NGC Ventures and Jump Trading and raised a second seed investment led by Binance Labs and Animoca Brands in October 2021.

The second seed investment was to supercharge its commerce-focused metaverse. As a result, Highstreet set out to create the first-ever metaverse marketplace, in which physical goods are traded as non-fungible tokens, or NFTs. The marketplace, which runs on the Ethereum blockchain, is built for high-end brands to launch limited-edition products.

As part of this strategic investment, Highstreet would build Binance Beach in its metaverse marketplace.

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD