Coinweb (CWEB) Token Rose for Five Consecutive Days as Cryptocurrencies Bounced Back

Coinweb (CWEB) token rose for five consecutive days as cryptocurrencies bounced back, and as traders anticipated its mainnet launch.

The Coinweb (CWEB) token enjoyed a remarkable surge in value over five consecutive days, fueled by a broader cryptocurrency rally and anticipation surrounding its upcoming mainnet launch.

CWEB price soared to a high of $0.0073, marking its highest level since July 30 and an impressive 182% increase from its lowest point this month.

Coinweb mainnet launch in sight

The primary driver behind this surge was the hype surrounding Coinweb's upcoming mainnet launch, which is set to occur on Monday.

Cryptocurrency tokens often experience price surges ahead of major events, such as mainnet launches, halvings, or exchange listings, due to the excitement and anticipation among traders.

In fact, CWEB was among the most searched tokens on CoinGecko and CoinMarketCap.

It's official 💥Coinweb will launch Mainnet on the 30th of September.

We launch with momentum – there are over 40 dApps building on our platform with plenty more coming.

Q4 and onwards will be an exciting time for Coinweb!

Full details: https://t.co/I4niqpAkYS pic.twitter.com/1MQHfCxxQW

This particular mainnet launch is significant as it coincides with a period of rising cryptocurrency activity and soaring prices.

According to Coinweb's website, there are currently over 40 dApps within its ecosystem, including LinkMint, Taurus AI, Curator, and Bounty Temple.

The developers are aiming to attract even more dApp builders by transitioning to the mainnet.

Coinweb's website highlights its superior speed, boasting a capacity to handle over 100,000 transactions per second (TPS). This makes it faster than popular networks like Ethereum, which currently processes around 10-15 TPS.

A key differentiator for Coinweb is its focus on cross-chain computation, unlike other chains.

This approach allows dApps built on the Coinweb network to communicate seamlessly with those operating on ten other sovereign chains, including Solana and Ethereum.

By facilitating interoperability, Coinweb aims to resolve the so-called trilemma, which encompasses the trade-offs between security, scalability, and decentralization.

However, Coinweb faces a substantial challenge in the highly competitive blockchain landscape, where networks like Sui, Ethereum, Tron, and Base already dominate the market share.

Past attempts to disrupt these established chains have largely faltered, leading to the emergence of numerous "zombie networks," such as Zilliqa, Kadena, and Velas.

Another factor contributing to CWEB's surge is the broader cryptocurrency rally.

Bitcoin price rose to $66,000 for the first time in months, while coins like Pepe and BNB also enjoyed substantial gains.

This rally was driven by news of the Fed cutting rates, Changpeng Zhao's release from prison, and China's stimulus measures.

Coinweb price analysis: Anticipation builds for $0.0095

On the daily price chart, Coinweb token experienced a strong rebound from its September low of $0.0027, leading to a remarkable rally towards the current price of $0.0077.

The token price surged above the 50-day moving average and is now approaching the 23.6% Fibonacci Retracement level at $0.0095.

Oscillators such as the Relative Strength Index (RSI) and Percentage Price Oscillator (PPO) both indicate an upward trend.

Given the momentum, the path of least resistance for the CWEB token appears to be a further ascent towards the 23.6% Fib level of $0.0095, which would mark a gain of around 35% from the current price.