PROVE (Succinct) rose 8.71% in 24 hours

Gate News Bot news, September 03, according to CoinMarketCap data, as of the time of writing, PROVE (Succinct) is currently priced at $0.92, having risen 8.71% in the last 24 hours, reaching a high of $1.19 and a low of $0.82, with a 24-hour volume of $73 million. The current market capitalization is approximately $180 million, an increase of $14.4 million compared to yesterday.

Succinct is a decentralized prover network dedicated to making zero-knowledge technology simple and easy to use. The project has generated over 5 million proofs, has more than 35 partners, and a total locked value exceeding $4 billion. Succinct offers two core products: SP1 (the world's fastest RISC-V zkVM) and the prover network, providing infrastructure support for developers and provers. This project can be applied in multiple fields, including zkEVM, Layer 2 scaling, co-processors, identity verification, machine learning, and cross-chain interoperability.

PROVE recent important news:

1️⃣ Gate unified account adds PROVE as collateral Gate's unified account has included PROVE in the list of tokens available for collateral, with a maximum discount rate of 0.80. This initiative significantly enhances the liquidity and usability of PROVE, and is expected to attract more investors to hold and use the token, providing strong support for the rise in PROVE's price.

2️⃣ PROVE mortgage policy adopts a gradient discount rate Gate has implemented a tiered discount rate system for PROVE, setting different discount rates based on various collateral amount ranges. This flexible policy design helps balance risk and reward, potentially stimulating more users to participate in PROVE's collateral and lending activities, thereby increasing the token's demand and value.

3️⃣ Succinct builds a decentralized verifier network Succinct is building a decentralized prover network aimed at providing cryptographic proof protection for blockchain applications and infrastructure. The project unifies the proof supply chain, offering highly available proof generation infrastructure and quality pricing for applications using zero-knowledge proofs such as rollups and co-processors. This technological innovation may be an important factor driving the long-term rise in PROVE prices.

From a technical perspective, PROVE has performed strongly recently, breaking through the 1 dollar mark and reaching a short-term high of 1.19 dollars, indicating strong pump momentum. However, considering the rapid rise in the short term, investors should remain vigilant about the potential risk of a correction.

This message is not intended as investment advice; investors should be aware of market volatility risks.