Supply chain issues and Web 3.0 growth support OriginTrail’s new all-time high

Supply chain management remains a major area of ​​attention and concern for the global economy, especially given the current delay in shipping goods in major ports around the world and the decline in items available on store shelves.

Oddly enough, OriginTrail (TRAC), a blockchain protocol focused on logistics and supply chain management, has been gaining traction over the past two months and this week the project’s native token, TRAC, hit a new all-time high.

Data from Cointelegraph Markets Pro and TradingView show that After hitting a low of $ 0.278 on August 29, the price of TRAC rose 306% to hit a new high of $ 1.39 on October 28. likewise, the daily trading volume rose from an average of USD 4.66 million to USD 11.55 million.

4 Chart of the TRAC / USDT pair. Source: TradingView
Supply chain issues and Web 3.0 growth support OriginTrail’s new all-time high
Supply chain issues and Web 3.0 growth support OriginTrail’s new all-time high

Let’s take a look at what could be behind TRAC’s current surge to new highs.

Decentralized knowledge graphs

October 1 OriginTrail changed its image to become the “world’s first decentralized knowledge graph” designed to “organize the most important assets of humanity, make them discoverable, auditable and valuable”.

The idea behind this change is help to better convey the ability of the network to take over the current distributed information ecosystem in Web 2.0 and to integrate it into Web 3.0.

The data that can be stored and tracked on Origin Trail includes information about physical assets, as well as items and digital assets, making it discoverable and verifiable on its decentralized network with Web 3.0 capability.

This includes physical items such as art and food, as well as digital items such as non-fungible tokens (NFTs), certificates, diplomas and DeFi assets.

The project has also benefited from significant partnerships, including using the OriginTrail blockchain to host the solution. Trusted SCAN factory which was developed between the Supplier Compliance Audit Network (SCAN) and BSI UK.

Supply chain problems and the rise of Web 3.0

Another reason for the token’s recent price spike is the tremendous struggle the global supply chain is having with shipping, unloading, tracking and delivering goods to merchants.

Since the beginning of the COVID-19 pandemic, scarcity reports have dominated the headlines and the global supply chain has come under pressure from supply gaps.

Currently, there are several months of delays in ports around the world, and the shortage of microchips has paralyzed the development of automobiles, electronics and other high-demand products.

Along with TRAC, various Web 3.0 protocols have hit their native tokens to new all-time highs in the past few days, including NEAR Protocol, Verasity, and Harmony.

Cointelegraph Markets Pro Data, the market conditions for the TRAC token have been favorable for some time.

The VORTECS score is an algorithmic comparison of historical and current market conditions derived from a combination of data points, including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECSâ ?? ¢ Score (green) compared to the TRAC price. Source: Cointelegraph Markets Pro

As can be seen in the graphic above, The TRAC VORTECS score began rising on October 4th and rose to a high of 77 about 48 hours before rising 180% over the next three weeks.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you will need to do your own research when making a decision.

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