The PROVE token is currently trading at a price of $0.886 with a market cap of approximately $173 million and a daily trading volume reaching $180 million.
It represents the first decentralized ZK network securing assets worth over $4 billion distributed across more than 35 protocols.
The circulating supply represents 19.5 percent of the total one billion tokens, and the remainder will be distributed according to an organized timeline.
The reasons for this rise are attributed to the mainnet launch on August 5, where the infrastructure for Ethereum-based applications was established.
Additionally, 50 million tokens were distributed at a rate of 5 percent of the total supply to innovative contributors during the Airdrop campaign.
PROVE also received comprehensive support from the Binance platform, which listed instant trading pairs such as PROVE USDT and PROVE BNB.
In addition to perpetual contracts with leverage up to 75x.
From a technical analysis perspective, there is potential support in the range of $0.85 to $0.80 with resistance at $1.10 if adoption continues.
Perpetual contracts may increase the level of volatility and open good opportunities for active traders.
The token distribution indicates an allocation of 29.5 percent for core contributors and 10.5 percent for investors with a one-year lock-up period for both parties.
The community welcomed the potential of the new network and its scalability and expressed optimism about its integration with Binance.
However, there is caution regarding the upcoming unlocking dates and strong competition in the ZK space.
Participating in trading challenges also grants additional opportunities to active users.