Wondering Why Your $WNT Dollar Value Fluctuates?
The Wicrypt Network Token $WNT is a cryptocurrency on the blockchain. Like any other cryptocurrency, the value of the $WNT can go up and down, affecting the dollar value on conversion. This fluctuation depends on various market factors like company news, government policies, project growth (more or less utility of the $WNT token) and other top cryptocurrency news like Ethereum protocol changes and(Bitcoin) halving, which happens every four years and more.
While most people familiar with the cryptocurrency and blockchain market understand the fluctuation in token values, some users on the Wicrypt network need more knowledge. So we will explain the reason for the current fluctuating values of the $WNT like other cryptocurrency tokens.
The $WNT is not a stablecoin, so like any other cryptocurrency, it is volatile, and market conditions determine its market (dollar) value. These conditions and other factors can make the price go down or up, as the case may be. This fluctuation reflects on the dollar value of the staked $WNT. For Wicrypt, there are several requirements for earning weekly on the network, including your staking score. The minimum stake for each device is $100 worth of WNT. So, in cases where the price falls and a user’s staked $WNT falls below $100, it means that the user will not meet the required minimum stake for the week and will not earn.
If the market conditions are great, the value of each $WNT increases, increasing the dollar value of your stake or earnings when converted to stablecoins. This rise further increases your earning potential and your staked value and score. However, when the market conditions are unfavourable, the (dollar) value of the $WNT can drop, reducing your stake’s weight and earning potential.
The way to avoid your staked $WNT falling below $100 is to keep staking a part of your weekly rewards or purchase more $WNT than the required minimum stake so that when the price dips due to poor market conditions, the staked $WNT will still be worth above $100 and you can keep earning.
As a Wicrypt user, you can stake with a Metamask wallet and the Wicrypt mobile app with fixed and flexible staking. Then adjust the flexible staking constantly to meet the $100 minimum staking requirement. This way, you can stay ahead of the curve and ensure that you keep earning weekly.
We understand the frustrations that can come with a bearish crypto market and reduced token values. Please be patient as we ride the curve and come out on the other end.
For enquiries and more information on this update, please email hello@wicrypt.com, and a customer experience representative will attend to you.
