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Zebec Network, a leading cryptocurrency project in the payment industry, recently experienced a significant surge in its token price following the acquisition of Science Card, a U.K.-based fintech firm. This development has positioned Zebec Network as one of the top-performing crypto assets in recent weeks.
Zebec Network’s Record Price Surge
The price of Zebec Network (ZBCN) skyrocketed to an all-time high of $0.00617, pushing its market capitalization to over $500 million. This represents an impressive increase of over 770% from its lowest point earlier this month. The remarkable growth highlights the growing interest in the project among cryptocurrency investors.
Impact of Science Card Acquisition
The price rally was largely driven by Zebec Network’s acquisition of Science Card, a fintech platform with more than 50,000 users. Science Card provides an easy-to-use application that enables users to send, receive, pay, and save money. Additionally, it offers physical and digital cards that can be used in over 210 countries. A unique feature of Science Card is its ability to contribute to research funding through user transactions.
“With this acquisition, we’re enabling students to spend crypto on campus while funding university research with every swipe, with expansion into education payments,” Zebec Network stated.
This strategic acquisition aligns with Zebec Network’s broader goal of becoming a top player in the crypto payment ecosystem. By integrating Science Card’s services, Zebec aims to expand into the education sector, offering innovative solutions for students and universities.
Zebec Network’s Core Offerings
Zebec Network is known for its innovative payment solutions, including debit cards that allow users to spend cryptocurrencies worldwide. It has also established itself as a major player in the payroll industry, serving over 250 enterprise clients and processing more than $1 billion in payroll volume.
Key Features of Zebec Network
- WageLink: A cutting-edge feature that integrates Web2 and Web3 technologies, enabling companies to pay employees by the second.
- Cross-Border Payments: Firms can use USDC to make international payments at near-zero transaction costs.
These features have significantly contributed to Zebec Network’s adoption among businesses and individual users, further solidifying its position in the crypto payment space.
Market Activity and Futures Trends
The recent price surge has also attracted significant activity in the futures market. Futures open interest for ZBCN reached a record high of over $32 million, a sharp increase from $2.5 million earlier this month. This rise in open interest reflects growing demand and liquidity for the token in the derivatives market.
Despite the positive momentum, futures traders appear cautious, as the funding rate for ZBCN has remained negative since May 21. This indicates a bearish sentiment among some market participants, who may be anticipating a price correction.
Technical Analysis of ZBCN
On the technical front, ZBCN has continued its impressive rally, driven by the announcement of the Science Card acquisition. The token is currently trading well above its moving averages, with a 170% increase from the 50-day Exponential Moving Average (EMA). However, indicators such as the Relative Strength Index (RSI) and Stochastic Oscillator suggest that the token is in overbought territory.
Given these conditions, the price of ZBCN is likely to experience a short-term pullback due to profit-taking and mean reversion. This is a common occurrence when assets witness sharp price increases, as early investors look to lock in gains. The next key support level for ZBCN is expected around $0.002143, which was the highest swing level recorded in February.
While the long-term outlook for Zebec Network remains positive, investors should exercise caution and consider market volatility when making investment decisions.
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