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Cobak Token (CBK) Spikes Over 35% in a Day

thenewscrypto.com 11 July 2021 18:49, UTC
Reading time: ~2 m

  • Cobak Token (CBK) is a ERC20-based utility token.
  • CBK price surged over 35% in the last 24-hours.
  • Cobak is the largest app-based crypto platform.

CBK is an ERC20-based utility token, its price surged over 35% in the last 24-hours. According to CoinMarketCap, the CBK price is at $3.79, with a 24-hour trading volume of $364,258,836, at the time of writing.

CBK Price Chart (Source: CoinMarketCap)

Cobak is the largest app-based crypto platform with a DAU of 60k and cumulative app-download of 300k. Moreover, the CBK token will work as an internal payment token utilized for payment for services, as means to unlock non-monetary membership profits on Cobak, and also as a reward token for participating in and performing activities profitable to the platform and community.

CBK is listed on many cryptocurrency exchanges that include Gate.io, Upbit, and Coinone. Moreover, the price surge came after the token listed on MEXC Global, a crypto exchange. 

CBK/USDT Price Chart (Source: Gate.io)

The above chart shows the Ascending Channel pattern in the daily time frame. An Ascending Channel is the price action that occurs between upper inclining equal trendlines. Moreover, Higher highs and Higher lows form this price pattern. In addition, this pattern indicates that CBK is bullish. Currently the trading volume of the token is also high. However, traders could see more bullish days ahead. 

With the ongoing developments and upgrades that are taking place within the CBK platform. CBK has a great future ahead in this crypto market. However, CBK can reach new heights.

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