A metaverse coin has made a name for itself with its recent rise. A data platform has concluded that Binance CEO Changpeng Zhao’s statements are behind the rise in the coin. Here are the details…
HIGH price rises
According to the data, HIGH experienced a rise of close to 150 percent for a week. Moreover, it was one of the most valuable coins among the top 500 coins. At the time of writing, the coin has gained momentum on a monthly basis by 215%, although it has seen a wave of sales from investors looking to profit from its recent value gain. So, what developments were behind the rise?
As we reported as Kriptokoin.com, HIGH announced the other day that NPCs in the Highstreet metaverse will receive the support of chatbot ChatGPT. This caused a short-term uptrend. The coin managed to rise from the $1.30 level to $2.50. However, after that, its rise did not stop and it even climbed above $3.50. According to data platform LookOnChain, HIGH continued to gain value following the Binance CEO’s statements.
Binance statements supported altcoin
“The price of HIGH has increased by nearly 200 percent after Binance CEO CZ indicated that Binance would prefer to invest in other virtual reality or metaverse games,” said on-chain data source Lookonchain. As seen scrolling through Binance Labs Fund’s official Twitter account, there has been talk about the metaverse going on since the beginning of the year. Binance hosted the first metaverse demo in partnership with High Street, League Kingdoms, The Sandbox, Space and Ultiverse from January 16-20.
2.$HIGH Token is the currency inside Highstreet, which is used for purchasing limited edition items, real estate and governance.
And $HIGH Token has a fixed supply of 100M tokenshttps://t.co/qHzhAs8fJy
— Lookonchain (@lookonchain) January 30, 2023
Highstreet has completed its first seed round with investors including Mechanism Capital, Cherubic Ventures, NGC Ventures and Jump Trading. In October 2021, the company completed its second seed round with the help of Binance Labs and Animoca Brands. The purpose of the second seed investment was to provide a boost to the company in the trade-oriented metaverse. As a direct result, Highstreet took on the mission of developing the first metaverse marketplace where non-fungible tokens (NFTs) representing tangible items would be sold.
Highstreet metaverse also has room for Binance
Powered by the Ethereum Blockchain, the marketplace was designed specifically for luxury brands to distribute limited edition products. Highstreet would build Binance Beach inside the metaverse marketplace as part of this strategic investment. It’s also worth noting that Highstreet is the 28th project on Binance Launchpool.
Highstreet combines trading, gaming, NFT, traditional and crypto into one unified MMORPG. It enhances real-world stuff by turning it into in-game stuff. The Highstreet World metaverse is home to the Solera continent as well as an ever-expanding archipelago of mysterious islands and regions, all shaped by market forces.
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