- Binance yesterday announced that its Hooked Protocol subscription launchpad has been completed.
- HOOK’s current situation is not necessarily the time to be buying.
- HOOK is currently trading at $2.55 after a 12.07% increase in price.
A crypto analyst shared a Twitter post on December 2 to reflect on the price of Hooked Protocol (HOOK), and whether it is a good time to take a chance on the cryptocurrency at the moment.
According to the post, HOOK has been trading at around $2.6, which is about x26 the price of the crypto when it was launched. This comes after Binance yesterday announced that its Hooked Protocol subscription launchpad has been completed.
According to the Binance website, a total of 144,772 participants committed 9,010,765,2954 BNB during the subscription period, which represents an oversubscription of 1,066x. In addition to this, three participants reached the 150,000 HOOK hard cap, resulting in the participants’ allocation being passed down to the remaining users.
The analyst concluded his post by stating that HOOK’s current situation is not necessarily the time to be buying at the moment. The analyst also mentioned that it might be a better idea to wait for a few more daily candles to print to see what the market-maker is going to do before making a decision.
CoinMarketCap indicates that HOOK is currently trading at $2.55 after a 12.07% increase in price, and after reaching a high of $2.74 over the same time period. The crypto is also still in the green by more than 12% over the last week.
HOOK was also able to strengthen against the two biggest cryptocurrencies in the market, Bitcoin (BTC) and Ethereum (ETH), by about 13% and 12.75% respectively.
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