Why is EPIK Prime crypto rallying? NFT token jumps 21%

The token is rising while Epik is co-hosting the first Asia Metaverse New Era Summit, January 12. This summit is live and is open for the movers and shakers in the crypto and metaverse space, as per Epik’s Twitter message.

The EPIK Prime (EPIK) token rose 20.87% at 5:30 am ET, Wednesday. It traded at US$0.283. Its 24-hour volume increased by 40.53% to US$4,911,185.

Another update in less than 24 hours on Twitter says that it has an LP staking reward for Uniswap and Pancake. This may also have given a rise in the trading volume.

Epik is an NFT licensing technology company with more than 300 video gaming clients. It is reportedly considered a blockchain industry leader in producing collaborations for NFTs, exclusive experiences, and premium licensed digital collectables through interoperable proprietary cross-chain technology. 

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It started working with the brands and games in 2018 with an aim to produce premium digital items. It believes that digital products are the future to express oneself individually, and that it would play a central role in ownership.

Epik sees the digital items as a collection of memories and achievements while at the same time showcasing attributes such as membership, class, status, performance etc.

Many companies trust Epik for producing premium digital items and experiences for end-users, which are more than one billion gamers, it claims. Its clients include entertainment brands such as ViacomCBS, Universal, Warner Music, Tencent, and Garena.

Also Read: Top technology and gaming stocks to explore in 2022

Also Read: Global NFT market topped US$40 billion in 2021: Report

EPIK is the token of EPIK Prime. It is a membership token to provide benefits to the holders such as item reservations, NFT rewards, and exclusive access to ultra-premium items.

The token has a market capitalization of US$66.03 million.  The token has a circulating supply of 234,382,715 EPIK, and its maximum and total supply stand at 2 billion EPIK.

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The token touched an all-time high at US$0.865706 on November 17, 2021, and an all-time low at US$0.085736 on October 28, 2021.

The token is available for trading on Huobi Global, KuCoin, Bitrue, BKEX, Gate.io, as well as on Uniswap (V2) and PancakeSwap (V2).

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Bottom line

There are more than 16,600 cryptos in the market as per coinmarketcap.com. The digital asset market is volatile, and market players are not under any regulations. Hence, investors must do their research before jumping onto the crypto wagon.