Cyberconnect token debuts on Binance with 30% dip

Cyberconnect’s coin CYBER was listed on Binance. Right after the listing, its value dropped by 30%.

Cyberconnect’s token, CYBER, was added to the Binance platform on Aug. 15. The coin’s price can now be tracked at the crypto stats websites, such as CoinGecko and CoinMarketCap.

Shortly after the listing, CYBER experienced a 30% drop in its value. According to CoinGecko, the coin nosedived from $7 to $4.92. At the time of writing, its low was at $4.5.

What is Cyberconnect

CyberConnect is a web3 social network. Its main goal is to provide users control over their digital ID, content, and social interactions. Its three core products are CyberAccount, CyberGraph, and CyberID.

CyberAccount aims to simplify the complexity of gas payments across many networks and modernize the onboarding process for multi-chain web3 activities.

CyberGraph helps store user-generated content and facilitates connecting different blockchains.

On May 18, 2023, CyberConnect conducted its first initial exchange offering (IEO) on Coinlist for 3,000,000 tokens, raising $5.4 million. The project later launched a second IEO on Bitmart with 6,000 tokens, raising $10,800.