Mainnet launch and NFT sale carry Aavegotchi (GHST) to a replacement uncomparable high

Wednesday 03 March 2021, 7:48 PM AEST - 1 month ago

The price of GHST rallied to a replacement high as Aavegotchi launched its mainnet Associate in Nursingd conducted an NFT sale that sold come in but a second.

Nonfungible tokens (NFTs) have chop-chop become the new hot topic within the cryptocurrency sector, as proved by Litecoin (LTC) creator Charlie Lee scrutiny this spike in NFT interest to the ICO mania of 2017.

The recent pullback within the cryptocurrency market hit decentralized finance tokens (DeFi) pretty laborious, however as Bitcoins (BTC) worth recovered the $50,000, DeFi and NFT tokens bounced back chop-chop.

One project that has with success capitalized on the DeFi and NFT boom is Aavegotchi. The project advantages from its association with Aave, whereas additionally specializing in the creation of value-infused NFTs that are restricted in minting.

Data from Cointelegraph Markets and TradingView shows that the value of GHST, Aavegotchis governance token, rose thirty fifth from $1.36 on March one to a replacement uncomparable high of $1.86 on day because the community conducted its initial NFT sale.

Three reasons for the GHST flight to a replacement uncomparable high embrace its recent migration to the two-dimensional figure network, the prospering completion of its initial NFT sale and excitement concerning the future mainnet launch.

Users bridge to two-dimensional figure for lower fees

Transaction fees on the Ethereum network are increasing since the start of 2021, and that they show no signs of decreasing anytime presently.

In response to the present, the team at Aavegotchi declared on Jan. twenty six that the project would bridge to the two-dimensional figure network, Associate in Nursing Ethereum layer-two answer Following the migration, users are able to conduct transactions, obtain things within the store and stake their GHST tokens for the value of .0001 MATIC, a major diminution from this prices of transacting on Ethereum.

GHST worth rose from $0.61 on Jan. 27, once the two-dimensional figure bridge was initial discharged, to $1.25 on Feb. fourteen as users began to be a lot of active within the community because of lower dealing prices.

Optimism grows because the mainnet launch approaches

One of the largest drivers of GHST was its official mainnet launch on day.

While most NFT comes are content to utilize internet a pair of.0 servers or the celestial body c ...

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