Sign (SIGN) Soars Over 85% Following Major Exchange Listings

Sign (SIGN), a cryptocurrency project focused on decentralized identity and credential verification, has become one of the most talked-about projects over the past 24 hours. Its native token, SIGN, has soared by over 85% since its inception. The immediate price surge follows the token’s listing on various crypto exchanges.

According to on-chain data from the price-tracking website CoinGecko, the token has attained an all-time high of $0.126. At the time of writing, the digital asset has a trading price of $0.1156, representing a 30% increase in the past 24 hours. Its market capitalization and 24-hour traded volume at press time were $138.77 million and $469.6 million, respectively.

SIGN Captures Massive Attention

The Sign Protocol team disclosed that the token will be airdropped on April 28th. According to the digital asset’s tokenomics, 40% of the total 10 billion token supply is earmarked for airdrops. Still, only 12% will initially be distributed during the airdrop.

This update set the stage for the protocol to receive massive attention from crypto exchanges, developers, and users alike. The cryptocurrency is available on Ethereum, BNB Chain, and Base. Aside from being the backbone of the Sign ecosystem, the token will also provide utilities such as staking, earning rewards, and governance. It can also facilitate the settlement of transaction fees.

The first crypto exchange to feature the SIGN token was Binance. On April 26th, the leading crypto custodian revealed that SIGN will be its 16th HODLer Airdrops project. This paved the way for BNB holders who subscribed to the exchange’s Simple Earn product to receive SIGN tokens for free. Yesterday, Binance listed the token for spot trading. However, like most relatively new cryptocurrencies, Binance included the token in its seed tag for monitoring. The exchange uses this label for those that are highly volatile and risky.

Afterwards, other prominent crypto exchanges began listing and disclosing plans to list the token. Some include Gate.io, KuCoin, Bitget, Bitrue, HashKey Global, Bybit, Aerodrome, Coinone, and Upbit. Several of these exchanges, like Bitrue, also offer a SIGN airdrop to users when they perform specific tasks within a particular timeframe. At the time of writing, at least five of the crypto exchanges mentioned have listed the multi-chain digital asset.

What is the Sign Protocol?

Sign is a project bridging users’ existing credentials with their on-chain identity. It also describes itself as an omnichain attestation layer for decentralized applications (dApps). This means that anyone can authenticate data, documents, evidence, and transactions on the blockchain. The project’s goal is to build trust in the trustless blockchain ecosystem.

It leverages blockchain technology, data storage solutions, zero-knowledge cryptography, and digital signatures to enable users to verify attestations on-chain.

Users can upload an attestation to the Sign protocol on-chain (on the blockchain) or off-chain (on an online forum). The platform provides the tools needed to input the data for the attestation and sign with the user’s digital key. Sign uses a Schema Registry, a system used to structure and configure attestation data. Although these attestations cannot be deleted after they are created, they can be disputed or revoked using newer ones.

The post Sign (SIGN) Soars Over 85% Following Major Exchange Listings appeared first on Cointab.