After a lengthy dip since November 25, CryptoPlanes (CPAN), has now started to rise once more.
In just two days, the coin’s price has risen by more than $0.55. It was currently trading at $2.56, with a 7.09% increase in the last 24 hours.
Why is the price CPAN increasing, especially when most cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), are dropping?
The following is a detailed explanation on why the CPAN cost is increasing.
What is CryptoPlanes (CPAN), and what are its benefits?
Before diving into why the CPAN cost is so high, it is important that you first understand CryptoPlanes (CPAN).
CryptoPlanes, a blockchain-based game, is built on Binance’s smart chain and features a metaverse that includes NFT planes such as the CryptoCity metaverse.
“As a player in CryptoPlanes, your mission is to win the fighting (Training, PvC, PvP, Planes vs Cars battle) to get Exp and earn token. When you gain enough experience points, you can upgrade your plane level.’’
NFT planes are available in the game and can be purchased with the CPAN token. To purchase a plane, it costs 500 CPAN. Once you have it purchased, you can stake it and upgrade your game levels by completing missions that earn rewards.
The game boasts over 127K planes, and more than 212K players. Over 17 million transactions in-game have been completed so far.
Why is the CPAN Price on the Rise?
The constant increase in the number of users is driving the CPAN price up. As the app’s user base continues to grow, there has been a bullish trend over the past month. It seems that this trend may continue into next year.
According to CrryptoPlates’ Twitter account, CPAN was the most searched for project within the last 24 hours
— CryptoCars (@cryptocarsgame) December 15, 2021
It’s clear that CryptoPlanes’ popularity is growing, which is a significant contributor to the recent bullish momentum for CPAN.
CPAN’s bullish momentum continues. However, it is important to note that the recent price increase in the past 24 hours has not offset the last week’s price drop.