$PROVE (Succinct) surged 10.39% in the last 24 hours, bouncing back after an 8.71% decline over the past week. The upswing is driven by network upgrades and renewed exchange liquidity.
Key Drivers:
Prover Network Upgrade: Node improvements boosted staking confidence, with upgrades completing by September 10. Stakers paused activity during the upgrade, but resumed rewards and potential yield increases likely reduced selling pressure. With 6.8M tokens staked and $31.15M in unclaimed airdrops, demand remains anchored. Watch post-upgrade staking participation for continued bullish momentum.
Exchange Activity & Altcoin Sentiment: Despite early volatility, PROVE maintains strong exchange support. Upbit’s PROVE/KRW pair reached $565M volume on August 11, while Binance’s VIP Loan addition expanded institutional access. 24h volume at $BTC 79.5M (+74.92%) indicates both retail and institutional accumulation, though a 441% turnover ratio signals speculative risk. Bitcoin dominance at 57.87% (-3.5% monthly) suggests capital is rotating into alts like PROVE.
Technical Recovery: PROVE’s 7-day RSI rose from oversold 29.01 to 40.62, reclaiming the $BTC 0.90 support and aligning with the 30-day average, signaling technical upside.
Overall, network upgrades, liquidity, and technical recovery are supporting PROVE’s recent rebound.
