One of the largest discussions taking place worldwide is related to energy production and the integration of renewable energy sources in an electrical network dominated by carbon fuel and nuclear power.
Energy Web Token (EWT) is a project that is growing in popularity as it aims to integrate blockchain technology in the energy sector. The project also plans to help develop applications and establish a decentralized energy exchange.
Data from Cointelegraph Markets and TradingView show that the EWT price rose 65% from a low level of $ 11.38 on February 28 to a full-time high of $ 18.78 on March 3, with a record volume around $ 8.66 million.
The main event that contributed to EWT’s price increase was the listing on 1 March on the Kraken stock exchange. Kraken is currently the fourth largest cryptocurrency exchange in volume and has given EWT the largest trading market to date.
EWT’s trading volume has increased 265% since the listing on Kraken, and the price continues to rise today as members of the community speculate in which stock exchange they will list EWT next.
EWT announces bid and service contract
Another source of optimism for EWT is the announcement on February 25 that token owners will soon be allowed to bid in the form of security-based decentralized service level agreements (SLAs) that will be used to create the service contract that will provide the services. . … in a network with a speed that acts as a catalyst to provide high quality services.
Energy Web Commercial Director Jesse Morris said the game engine built for EWT is “a new type of crypto model.”
“This is the key to unlocking tens of thousands of utility nodes (managed by the ecosystem) that provide affordable and reliable IT services to network operators. No more secure providers or bidding applications required to support a business application.”
VORTECS ™ data from Cointelegraph Markets Pro began to provide optimistic prospects for EWT on February 27 before the final rally.
Exclusive to Cointelegraph, VORTECS is a mathematical comparison of historical and current market conditions taken from a range of data points, including market sentiment, trading volume, recent price movements and Twitter activity.
As you can see from the chart above, the VORTECS for rating for EWT peaked at 67 on February 27, about 60 hours before the price started to break from $ 12.91 to the current price of $ 17.91. At the time of writing, EWT VORTECS ™ has received 80 points.
It is possible that the debate on renewable energy and their integration into the global economy is just beginning, and the Energy Web Chain may have a leading advantage in the decentralization of the energy industry.
Increased incentives for token holders, together with new IPOs, have enabled EWT to become a leader in the blockchain-based energy market, and this will certainly attract new investors.