Ocean Protocol, the blockchain-based ecosystem that allows individuals and businesses to monetize their data, was recently listed on the largest regulated exchange in Canada — VirgoCX. The project announced the new listing yesterday, January 21st, on Twitter.
🪙 NEW LISTING| OCEAN has been listed on @VirgoCX, Canada’s top regulated crypto trading platform! 🎉📢
It is currently available in a OCEAN/CAD trading pair on 👉 https://t.co/BBXLqH104C #theyearofadoption https://t.co/jCiSQNuQtA
— Ocean Protocol (@oceanprotocol) January 21, 2022
Not only is Ocean Protocol (OCEAN) now supported on the exchange, but VirgoCX also paired it against the Canadian dollar (CAD), making it easily available to any citizen of the country who wishes to invest in it or trade it.
VirgoCX announced the listing itself, only it did it several days ago, on January 19th. The exchange noted that it wanted to start the new year with something big, which is why it listed OCEAN, as well as four other tokens — SAND, ANKR, FTM, and LPT. All five have been live on its platform for a few days now.
OCEAN price crashes despite the vlisting
Despite the great amount of exposure and legitimacy, that listing on a regulated exchange brings, Ocean Protocol’s price barely responded to the new event. On January 1st, the coin started the year with a price of $0.86, and for the first five days or so, its value has been rising, even allowing it to reach and breach the resistance at $1. However, on January 5th, things took a turn for the worse.
The crypto market got overwhelmed with another bearish wave that caused the prices to crash, and OCEAN went from its YTD high at $1.027 on January 5th to $0.69 by January 10th. After that, the coin seemingly started to recover in, what later turned out to be a series of fluctuations between $0.8 and $0.75, with a brief surge to $0.85 between January 16th and late January 17th.
After roping back to $0.75 on January 19th, the token surged for the final time, reaching $0.82. This final growth was caused by the exchange listing announcement, but it did not take OCEAN very high up before the token lost its momentum and crashed to an entirely new low.
Between January 20th and January 22nd, the token kept spiraling down to a new YTD low of $0.6131. This is where it sits at the time of writing (January 22nd), after dropping by nearly 15% in the last 24 hours.
OCEAN has been lower than this in the past, and it has now come very close to a strong support at $0.6. However, if this level fails, it will likely crash down to its strongest support which held it from crashing throughout 2021, at $0.4
About Ocean Protocol
Ocean Protocol is a blockchain-based ecosystem that allows users to take control of their data, and monetize it. By using it, publishers can monetize the data while preserving privacy, and consumers are able to access datasets that were previously difficult to find, if not completely unavailable. These datasets can be discovered on the Ocean Market, and purchased, sold, and used, should the owners decide to put them there. Each data service is represented by a unique datatoken, which is used to wrap a dataset.
To learn more about this token visit our How to Invest in Ocean Protocol guide.
The post Ocean Protocol Gets Listed on Canada’s Leading Regulated Crypto Exchange appeared first on Securities.io.
