MovieBloc (MBL) crypto’s price and volume have skyrocketed in the previous day, and at the time of writing, MBL crypto was up 127% to US$ 0.01651 per token.
The one-day volume increased by more than 2,500% to US$ 498.5 million. MovieBloc crypto has gained massive traction in recent weeks, and it appears to be gaining more investor attention on Monday, March 14.
Because of the ongoing conflict between Russia and Ukraine, the overall cryptocurrency market remains highly volatile.
At 4 a.m. EST, the global crypto market cap had fallen by 0.8% to US$ 1.73 trillion, while the prices of the world’s two largest cryptocurrencies, Bitcoin and Ethereum, had fallen by 0.2 and 0.3 percent, respectively.
What is MBL crypto and Why is it Surging
MBL crypto is MovieBloc’s native token, with economic applications such as allowing users to watch premium content and make payments with MBL crypto.
Creators could also use the MBL cryptocurrency to pay translators, make donations, and reward users for reviewing, rating, or reporting illegal content.
MovieBloc is a blockchain-based streaming platform that aims to address the issues caused by conglomerates in the theatre and home entertainment industries.
MovieBloc’s official website allows creators to showcase their films to a global audience. Additionally, the platform will allow creators to include subtitles in the language of their choice, allowing more people to enjoy the film.
MovieBloc claims to provide users with equal sharing opportunities and to transparently share revenue and audience data. Aside from allowing audiences to watch movies, MovieBlock also allows them to earn money by marketing movies and creating subtitles.
According to CoinGecko data, the price of MBL crypto has increased by 131.2% in the last two weeks and 122.8% in the last month.
The sudden price increase of MBL crypto could be attributed to the announcement of the latest partnership. MovieBloc announced on Twitter on March 2 that it has partnered with Continuance Pictures and will distribute its films through its platform.
Bottom line
Streaming service platforms have gained traction in recent years, and with the rise of blockchain technology, it appears that platforms such as MovieBloc may expand in the future.
According to CoinMarketCap data, the total and maximum supply of MBL crypto is 30 billion, with a circulating supply of 13.53 billion MBL tokens.
Mandala Exchange, Binance, and other cryptocurrency exchanges currently offer MBL crypto. However, before purchasing virtual currencies, it is critical to conduct thorough research.
