Nervos Network's CKB targets for the ATH
(note: the post contains data by Analytics Insight)
The Nervos Network (CKB) token has witnessed a considerable price surge of about 16% in the past 24 hours.
At the moment of writing this article, the token is trading at $0.035 on CoinMarketCap. This is more than 100% in the past 7 days.
Amid a bearish market sentiment, Nervous Network emerged as the most lucrative asset this week. The altcoin has been up 116% in the last 7 days as the bulls aim for a retest of the 2021 all-time high of $0.043. Currently, the price is trading above the $0.033 resistance level.
If bulls flip this level into support, CKB price prediction would maintain a bullish outlook, and the next stop could be $0.043.
Nervos Network (CKB) is an open-source public blockchain ecosystem and its goal is to create a peer-to-peer (P2P) crypto-economy network where users can access a wide range of provably secure blockchain services and capabilities.
The Nervos mainnet launched back in November 2019 with a novel dual-layer architecture. There’s a base layer where the consensus mechanism operates and smart assets are stored, and a computation layer where transactions are processed.
The base layer is also known as the Common Knowledge Base, and has its own cryptocurrency called CKByte (CKB).
This uses the Proof-of-Work (PoW) consensus mechanism and drives the Nervos ecosystem. It is used to pay miners for keeping the network safe, managing network resources, and letting users store things on the network.
The Nervos Network allows developers to create decentralized applications (dApps) that can operate on various blockchain systems. Any of the network layers can be used to run both dApps and smart contracts.
