CYS (Cysic) increased by 25.20% in the last 24 hours, currently trading at $0.26

Gate News Bot Message, December 18th, according to CoinMarketCap data, as of press time, CYS (Cysic) is currently priced at $0.26, up 25.20% in the past 24 hours, reaching a high of $0.36 and a low of $0.16. The 24-hour trading volume is $93.2 million. The current market capitalization is approximately $42.4 million, an increase of $8.53 million from yesterday.

Cysic is the first full-stack computing network dedicated to promoting on-chain computing growth. The project adopts a layered architecture design, covering four key components: product layer, computing infrastructure layer, execution layer, and consensus layer.

At the product layer, Cysic offers services such as zero-knowledge proof marketplace, AI inference training, Agent platform, and digital computing. The computing infrastructure layer includes dedicated hardware like ZK ASICs, GPU servers, and mining equipment. The execution layer provides core functions such as bridging, voting, and swapping. The consensus layer uses Cosmos CDK blockchain technology to ensure system trustworthiness.

Cysic has launched Cysic Network (Verifiable Computing Network) and Cysic Hardware (ZK Accelerators), and is about to release products like Cysic AI (Low-Cost AI Infrastructure) and Digital Mining (Digital Asset Mining). The project has received support from leading industry investors such as Polychain Capital.

Important recent news about CYS:

1️⃣ Gate’s Initial Launch Drives Liquidity Release
CYS was officially listed for spot trading on Gate on December 11th, with the trading pair CYS/USDT. On the same day, Gate’s instant exchange platform added CYS, supporting zero-fee one-click conversions. The convenient trading channels and strong liquidity release fueled trading enthusiasm for the new token, contributing to this week’s price increase.

2️⃣ Exchange Activities Increase Market Enthusiasm
Aster launched CYS as the first DEX in the Rocket Launch event, offering a prize pool of over $250,000. The event ran from December 11th to 18th. Ongoing market activities and incentive mechanisms attracted participant attention, creating a positive market atmosphere.

3️⃣ Trust Crisis Exerts Price Pressure
Market skepticism points to issues such as TGE (Token Generation Event) manipulation, fake on-chain data, and substandard mining hardware. Specifically, recent abnormal concentration of newly created token addresses, a reported loss of $3.8 million against claimed revenue of $6 million, and founder withdrawals exceeding $4.45 million have raised governance concerns. Some mining chips are recycled products with quality issues. These negative reports have significantly impacted the project’s credibility, contrasting with recent price gains.

This message is not investment advice. Investors should be aware of market volatility risks.