The CYBER token, associated with the decentralized social network CyberConnect, experienced a remarkable surge of over 30% in value following an investment announcement by Binance Labs, the arm of the world’s largest cryptocurrency trading platform.
In the past 24 hours, the project’s ecosystem witnessed a substantial boost, with the price of CYBER rising from $5.05 to $6.8, as per data from CoinMarketCap. It’s worth noting that this level is still below the all-time high of $15, which was attained just last month. As of the most recent data, the token is trading at $6.52.
Binance Labs shared news of their investment in CyberConnect via Twitter, stating, “We have made a follow-on investment round in CyberConnect. We see SocialFi’s potential in propelling web3 into the mainstream.”
Binance Labs’ investment not only provides a significant financial boost but also serves as a validation of CyberConnect’s core mission and vision. The company’s primary goal is to empower developers with the necessary tools to create social applications that grant users complete control over their online persona, connections, interactions, and content. This investment marks a noteworthy milestone in their journey towards achieving this vision.
