On the Songbird subreddit, there was a discussion about whether the SGB is appropriate for long-term investing. Earlier days, after such a position, explosive growth began therefore, it is not excluded that similar events can repeat.Ĭome on $SGB! Repeat that PUMP! If we are lucky, it might just play out as before. Speaking about the growth, Moon Commander trader noticed that a similar candlestick position is forming on the SGB price chart. That’s why there’s no point in guessing what will cause the decline in value. Therefore, it is reasonable to study how SGB will behave in the near future and in the long term.Īs a rule, the decline can be influenced by various factors, whether it is the general state of the market or the lack of power in the community. So far, the asset is growing, but given the volatility of the crypto market, the decline could start at any moment. That is, those who invested in the asset at the start now have 67 times less than they invested. It almost immediately reached a historical peak and was traded at $0.6372. At its peak on the day, the asset was trading at $0.009569. According to CoinMarketCap, during the day, the asset grew by 23,94% to $0.009401. ❤️‍🔥 /EUAtHyl7qNĪt the time of this writing, the token is in the growth phase. Here’s your bullish news $SGB fam 😈 value bridge will be launched soon. Overall, believes that this news, if true, is a bullish signal for SGB, i.e., the token will potentially grow. In addition, it says that after the launch of the second bridge, this bridge will support a single asset, XDC tokens therefore, users of XDC will be able to create and use wrapped XDC on Songbird. The first bridge, which has already been deployed, was conducted between the XDC testnet ( Apothem) and the Flare Network testnet ( Coston). That is, XDC holders will eventually be able to transfer tokens into the SGB network, and vice versa, seamlessly.Ī message posted by Twitter user stated that the second bridge, which will be deployed after a sufficient testing period, will be between the XDC mainnet and Songbird, Flare Network’s “canary” network. XDC is an EVM-compatible chain with enforceable smart contracts that is uniquely suited to revolutionize, decentralize, and liquefy the trade finance industry through the tokenization of real-world assets and financial instruments.Ī crypto bridge, or blockchain bridge, is a special application that connects and enables the transfer of tokens between two different blockchains. Why is SGB rising?Ī possible reason for Songbird’s native token growth could be due to rumors of an upcoming XDC blockchain bridge. The Songbird testnet was launched in September 2021. Earned a PhD in Quantum Computing from University College London. Has a degree in Financial Risk Management from Cass Business School and was studying Machine Learning with Sean Rowan. Songbird is co-founded by three former students of University College London:

Interaction with Songbird applications.

Voting on network management decisions.

SGB, meanwhile, is a native token of the Songbird network, and is used for:

Seamless decentralized integration with Web2 data.

Songbird can link blockchains with smart contracts that were previously mismatched. Regarding functional features, the network provides: At the same time, such a network is independent, has its own chain, and is equipped with most or all of the features of the main blockchain, which in this case is Flare. In turn, the canary network, which is Songbird, is a pre-testing environment that is used for secure feature testing.

By allowing decentralized access to a wide range of high-integrity information from other blockchains and the internet, Flare enables new use cases and monetization models. Songbird is a canary network for Flare, which is an EVM-based Layer-1 blockchain designed to allow developers to build apps that can use data from other blockchains and the Internet. Read more about that and whether Songbird is a good long-term investment. One of the reasons for this growth may be related to rumors about the launch of a second bridge between the XCD blockchain protocol and SGB.

Songbird (SGB) token, which is the canary network for Flare blockchain, rose more than 20% to $0.009239 in the last 24 hours. 1 The canary network: what is Songbird?.

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