The price of Wanchain (WAN) cryptocurrency almost tripled during the last few days. A significant increase in trading volumes and token prices from $0.22 to $0.60 was observed from Friday morning to Saturday. The cost of one WAN token at the time of publication is estimated at 0.48 dollars. The market capitalization currently stands at $51.2 million; the cryptocurrency ris ranked 87th on CoinMarketCap.
The rise in value as well as in popularity is a reaction to the the mainnet launch by node validators. There is currently a two-week period before the full-fledged Proof-of-Stake consensus starts on September 3, the first day that users can stake WAN tokens on Wanchain’s main network, as per Dan REECER, Wanchain’s Global Marketing Director.
Wanchain is a network that allows users to transmit values between individual blockchains. After launching in mid-2017, the platform successfully bridged Bitcoin and Ethereum networks at the end of 2018. To run a validation node, potential players will need a minimum of 50,000 WAN. Smaller investors, or “delegators,” can also put tokens through a validator node and receive a share of the rewards. Presumably, this fact provoked an increase in attention to the token over the past week.