Trading volume for the project exploded by 640% in just 24 hours.
Streamr is a data-focused blockchain that seeks to build decentralised infrastructure for the application of real-time data used in peer-to-peer networks.
Examples of how this could be used are in the internet of things (IOT), smart cities and the web 3.0.
What has brought this new rally on remains unclear at this point, but may point to a broader behaviour of consolidation from buyers in the market right now who see fundamental strength in the project.
However, concerns over how companies collect and use our data may have led some analysts to believe that Streamr may have a strong use case in its proposed “data unions”. Data unions would work by allowing companies to collect, use and sell user data with their permission, as well as allowing them to receive some of the sales revenue generated from their data.
This could be a shift away from the current model in which companies collect and repurpose data in largely opaque ways and means.
Where to buy Streamr
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Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Is Streamr a good buy to add to the portfolio?
One of the things that investors in cryptocurrency projects should consider is what they think the future will look like.
As the use of data becomes ever more important in our lives and the machines we build to interpret it become more sophisticated, there is a growing need for data to be protected and be used in an open and transparent way.
Streamr fulfils this need and may come to be in greater demand as the years go by and our reliance on data and the internet becomes more pronounced.