MODE, the native token of the Decentralised Finance (Defi) Layer 2 network called Mode Network, has made huge gains in the last few days. Despite being new to the market, MODE price has gained more than a 4000% hike in value, making it the most profitable cryptocurrency for the week.

What’s more interesting is that the crypto market was not entirely supportive during this time. The market is facing continuous ups and downs, and even the fear and greed index is still pointing at neutral sentiments of the investors. So, how did MODE surge this much in such a short time? Let us discuss that in this blog.

Overview of Mode Price Surge

The 4000% surge isn’t the entire picture of the MODE, as it is not at the best price right now. MODE was launched just a week ago and instantly rose to a peak of $0.1177, the ATH record of this cryptocurrency. Whereas, it’s currently trading at $0.03836, which is almost one-third of the ATH record.

MODE has gained instant success and gained a market cap of $48.77 Million and a 24-hour trading volume of $5.68M after a 3% hike from yesterday. Interestingly, MODE entered the market with a huge total supply of 10 Billion, and only 13% of them are in circulation, offering a vast quantity of tokens for its holders.

Reason Behind Mode Price Surge

The biggest reason behind the MODE price surge was its listings on multiple crypto exchanges, including Bybit, Gate.io, and many more. These listings provided the desired attention to this token and helped with building a crypto community. Not only that, Mode Network also succeeded in adding multiple apps to its ecosystem and is continuously growing.

The Mode network has also focused on its marketing for the MODE token and has gained millions of followers on the social media platform, which helped in the publicity of the token. Moreover, the initial airdrop of the MODE token gave a successful push to this cryptocurrency.

At the time of the MODE launch, the crypto market was also unstable, and investors were focusing on newly launched cryptocurrencies like MODE  to make quick gains in the slow market. It turned out to be the right decision, as the token is performing so well in the market. Now, it has to see how the MODE price will move next on the charts.

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The post Mode (MODE) Price Broke The Record With 4000% Surge; Sell or HODL appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am