The project’s trading volume surged by 640% in just 24 hours.
Streamr is a data-focused blockchain project building a decentralized infrastructure for real-time data applications used in peer-to-peer networks.
Use cases include the Internet of Things (IoT), smart cities, and Web 3.0 applications.
What triggered this recent rally is unclear at the moment, but it may reflect broader consolidation among buyers who currently see fundamental strength in the project.
Concerns about how companies collect and use our data have led some analysts to argue that Streamr’s proposed “data unions” could provide a compelling real-world use case.
Data unions would enable companies to collect, use, and sell user data with users’ permission, while sharing a portion of the revenue generated from that data with the users themselves.
This model would represent a shift away from the current norm, where companies collect and reuse data in largely opaque ways.
Where to buy Streamr
Is Streamr a good addition to your portfolio?
Investors considering cryptocurrency projects should think carefully about their vision of the future and how a given project fits that outlook.
As data becomes more central to our lives and the machines we build to process it grow more sophisticated, the need to protect and use data openly and transparently increases.
Streamr addresses that need and, as our dependence on data and internet-connected systems continues to grow, it could become increasingly relevant over time.