Nervos Network Trade Volume up More Than 1,300%

The cryptocurrency token Nervos Network (CKB) is up 63% over the last week, pushing the coin to a price point of $0.02958 (CKB/USD) at the same time the Bitcoin halving is gearing up.

Its trade volume is incredibly high, with one of the largest increases we have ever seen for a cryptocurrency. Since yesterday, Nervos Network’s trade volume jumped 1,319%.

This coin has been climbing for about two months now, moving from a price of $0.00509 to its current price. That has been a jump of 490% in just over 60 days, which is unprecedented for a coin that has been around for a few years already. We could understand that kind of leap with a newly launched coin, but Nervos launched back in 2020.

The coin is now just about 45% under its all-time high and still rising.

Why Is Nervos Spiking?

Nervos has been April’s biggest cryptocurrency gainer, and that is even with Bitcoin (BTC) pushing toward a new all-time high and about to halve. If more investors were paying attention to Nervos, it might steal all of the limelight.

The surge started in February and came on the heels of an announcement by Nervos owners that the coin would be joining Bitcoin’s network soon. The owners are introducing a smart contract functionality for the coin, and they have pushed characteristics of interoperability and modularity for 2024.

Nervos could continue to do well in the coming weeks, especially as Bitcoin hits its halving milestone and is likely to increase in value. Nervos is already designed to benefit from that with its strong Bitcoin connections. Its bull run does not seem to be finished just yet, and it may just push to a new all-time high shortly. Investors should be careful of price correction, though, as the coin has dropped sharply in the past after reaching new price point milestones.