What is ssv.network Token?
The second-largest crypto, Ethereum, recently made a historical transition by merging its PoS beacon chain with its mainnet without halting the network. Called as Ethereum Merge, it shifted the consensus mechanism of Ethereum Chain from PoW to PoS. Despite this, staking on Ethereum continues to be a tedious job. The SSV network offers an easy way for the validators to stake and earn while helping to scale Ethereum.
SSV network is a layer-0 staking infrastructure between the Ethereum Beacon chain node and the validator. It aims to diminish the probability of failed node validations by offering a decentralized validation and replacing a single validator with multiple independent operators across the network. It splits and runs the Ethereum validators between several different nodes.
The platform’s native token, SSV, backs the protocol, which is deeply intervened and plays a vital role in intensifying adoption. The token is used for governance and to pay the network fees. The SSV holders can vote on the platform upgrades and also receive rewards from the ETH staking.
| Launch Date | September 2021 |
| Founder | Alon Muroch |
| Blockchain Protocol | Ethereum |
| Native Token | SSV |
| Market Cap | $397.84 million |
| Token Type | ERC-20, Native |
| Circulating Supply | 10 million |
| Max Supply | NA |
| Consensus Method | Proof-of-Stake |
Who Are the Founders of ssv.network?
SSV network began as a joint research project with the Ethereum Foundation in 2019. The project later grew heavily, encompassing a large team, a public testnet, and backing from industry leaders like Coinbase and DGC. the platform was founded by Alon Muroch, the present CEO of SSV Network, and Adam Afrima.
How Does ssv.network Work?
The main purpose of the network is to allow distributed operation of Ethereum validators. The Ethereum validator keys are split into Keyshares on SSV Network and then distributed to multiple nodes for a better uptime. The network has 3 main participants that make the things happen smoothly, operators, stakers and DAO members.
Operators
They are responsible for managing validators and performing a variety of duties on the Ethereum execution layer-Beacon chain.
Stakers
The stakers earn rewards by locking up their ETH, which further helps to secure the ETH network. They also earn network fees determined by the DAO
Decentralized Autonomous Organization (DAO)
DAO members contribute to network governance and the decentralization of protocol and treasury ownership.
What Makes ssv.network Unique-Uses Cases?
- Its acts as a bridge between the community and the SSV ecosystem
- It finds and incentivises the best possible people to help make decisions related to the ecosystem
- Operator fees with a decent revenue model of DAO
- It offers grants and incentives to keep the ecosystem motivated
- SSV tokenomics, where-in each participating operator can determine its own price point and compete with other node operators.
ssv.network Price Analysis
Source: TradingView
- The SSV price has maintained a fine upswing since the beginning February and maintained enough strength in the times of intensified bearish actions
- The price, however, suffered massive losses in the past few days as it failed to hold the crucial support at $40
- Nevertheless, the price is still believed to rebound and it triggered a flip from the support levels around $36.8
- Moreover, the Bollinger bands have straightened, indicating the narrow trends to prevail following a bullish breakout as it appeared previously during the start of February
| ssv.network Price Today | $39.79 |
| Price Change <Yearly> | +306.7% |
| Market Dominance | 0.04% |
| Market Rank (as per CMC) | 96 |
| Market Cap | $397.84 million |
| Fully Diluted Market Cap | $438 million |
| ATH | $49.51 |
| ATL | $3.68 |
How to Buy ssv.network in India?
To buy ssv.network tokens in India, just follow the below-mentioned steps:
- Download the CoinDCX App on your smartphone
- Enter the details required for registration
- Complete KYC
- After your profile is verified, fund your wallet and buy SSV token.
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