IMPT, the native cryptocurrency of carbon credit trading platform IMPT.io, has blasted around 35% higher in the last 10 hours and, in doing so, has taken out a number of key levels of resistance. IMPT/USD was last changing hands in the mid-$0.015s, having surged higher from Monday’s closing levels around $0.010. That surge saw IMPT take out of a key area of resistance in the $0.012 area and then another area of resistance in the $0.01550 area.
What Triggered IMPT’s Price Surge?
A positive project update from the CEO of IMPT.io on Monday could have been the trigger for the latest surge in the cryptocurrency’s price. The CEO announced good news in three area. Firstly, IMPT.io is set to publish its first screenshots of Use Case 1, as well as release further information ahead of the platform’s plans to go live in February.
Secondly, IMPT.io will be releasing a list of the top 500 affiliate brands, as well as its latest additions, later this week. Finally, IMPT’s token will be listed on the Changelly Pro cryptocurrency exchange later this week.
Traders seem to have interpreted the news as bullish for the cryptocurrency. New screenshots and information about the project ahead of its launch in February are likely to boost hype around the project, traders seem to have assumed. Meanwhile, the upcoming launch of the IMPT token on a second major centralized cryptocurrency trading platform is likely to further boost its demand.
Bigger Pump Incoming?
Positive fundamentals and technicals could be aligning for IMPT to enjoy a further pump higher. If profit-taking triggers a drop back towards $0.012, bulls could well add to long positions. And with major levels of resistance having already been broken, IMPT’s next stop could be a return to its initial listing price at $0.025, which would represent a 70% rally from current levels.
What is IMPT.io?
IMPT.io is a blockchain-based carbon credit trading platform that is designed to make it easier for businesses and consumers to offset their carbon footprint. Users acquire carbon credits by accumulating IMPT tokens, which then they then convert into carbon credits that are issued as non-fungible tokens (NFTs). Users can then hold onto these carbon credit NFTs, trade them on IMPTs marketplace, or burn them, in which case they will receive a new NFT with unique artwork.
But IMPT.io is much more than just a carbon credit marketplace. The project seeks to incentivize consumers to engage in “responsible shopping” with environmentally-conscious brands. Users will be able to shop on the websites of the more than 10,000 brands that have committed to the IMPT.io project and gain IMPT tokens from each purchase via an online widget.
Meanwhile, IMPT.io has an inbuilt mechanism to encourage users, be that individuals or businesses, to accumulate and burn carbon credit NFTs. The platform gives users an IMPT.io score, which goes up each time a user shops and accumulates IMPT tokens, refers new users to the platform, gets and retires NFT carbon credit NFTs. Business owners can integrate the IMPT.io platform into their stores, which will also boost their score.
Investors wary of new crypto projects should note that IMPT.io’s founding team has been Know Your Customer (KYC) verified by CoinSniper and the project has undergone a full security audit by Hacken. CoinSniper and Hacken are both widely respected firms know to only greenlight legitimate crypto projects.
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