SCRT (Secret) has increased by 21.50% in the last 24 hours.

Gate News Bot Report — November 7th: According to CoinMarketCap data, SCRT (Secret) is currently trading at $0.26, up 21.50% over the past 24 hours. The price reached a high of $0.26 and a low of $0.14 during this period. Its current market capitalization is approximately $82.8 million, an increase of $1.47 million from yesterday.

About Secret Network:
Launched in 2020, Secret Network is the first mainnet blockchain to feature privacy-preserving smart contracts. It enables the development of decentralized, permissionless applications while maintaining user privacy. Secret Network offers end-to-end encrypted privacy-preserving smart contracts, making it a hub for confidential computing in Web3 and AI. Developers can build applications on their preferred network and utilize Secret’s confidential computing layer to protect sensitive data.

Recent Key News for SCRT:

1️⃣ Rising Privacy Computing Demand Drives Price Growth
The increasing need for privacy protection in Web3 and AI sectors has highlighted Secret Network’s role as a confidential computing hub. Its unique end-to-end encrypted smart contracts attract more developers and users, fueling a rapid price increase. From a 15.94% rise on November 4 to 21.50% on November 7, SCRT shows an accelerating upward trend.

2️⃣ Market Cap Growth Boosts Market Attention
SCRT’s market cap surged from $65 million to approximately $82.8 million within just three days. This rapid growth reflects growing investor confidence and may attract additional interest, creating a positive feedback loop that further propels the price upward.

3️⃣ Small Market Cap Amplifies Price Volatility
As a relatively low-ranked cryptocurrency (worldwide rank #386), SCRT has a smaller circulating supply. This makes its price more susceptible to large trades, leading to significant short-term fluctuations. The recent continuous rise may partly be due to this characteristic.

Technical Outlook:
SCRT has broken through the key resistance level of $0.20 and quickly surged to $0.26. However, such rapid gains could lead to a pullback. Investors should watch whether SCRT can establish $0.26 as a new support level, which will be crucial for its future trend.

Note: This information is not investment advice. Please be aware of market risks and volatility.