Rarible token slips 2.1% as other cryptos show mixed performance
Rarible, a community-owned non-fungible token (NFT) marketplace, experienced a 2.1% decline against the dollar on Thursday, with its token closing at $1.32 or the equivalent of 0.00003580 Bitcoin (BTC). Despite the day's dip, the platform's ERC-20 token has seen a notable 22.6% rise over the past week.
Founded by Alex Salnikov and Alexei Falin, Rarible operates on the Ethereum blockchain and extends support to Tezos and Flow chains, offering a decentralized environment for NFT trading. The platform's governance model grants its token holders decision-making rights, allowing them to vote on proposed upgrades and changes to the marketplace.
The NFT marketplace boasts a total supply of 25 million tokens, with over 23 million currently in circulation. As of today, Rarible holds a market capitalization of approximately $30.48 million and has seen trading volumes around $573,465.58.
The broader cryptocurrency market showed diverse movements with several tokens witnessing fluctuations:
- KILT Protocol (KILT) fell by 8.2%
- Aidi Finance (Aidi) and Zoo Token (ZOOT) both dropped by 2.2%
- CareCoin (CARES) also decreased by 2.2%
- Conversely, OmniaVerse (OMNIA) climbed by 3.6%
- Kitty Inu (KITTY) rose by 1.9%
- Hokkaidu Inu (HOKK) saw a modest increase of 1.2%
- Lego Coin (LEGO) and Lumi Credits (LUMI) remained stable throughout the day
To engage in trading Rarible, investors typically start by purchasing major cryptocurrencies such as Ethereum or Bitcoin through U.S dollar exchanges like GDAX, Changelly, or Gemini. They can then use these acquired assets to buy Rarible tokens on various exchanges where it is listed.
