The layer-2 blockchain protocol, Cyber (formerly CyberConnect), has garnered attention from crypto users after its native token, CYBER, rallied 143% in just one hour. The token’s price moved from $1.87 to $4.56, marking one of its most rapid short-term moves this week.
Cyber is a Web3 social networking protocol that lets users own their digital identity, social connections, and content across platforms. Users leverage the technology via on-chain profiles (CyberProfile), a decentralized social graph (CyberGraph), and built-in monetization tools. The protocol aims to power social apps and the creator sector without centralized control.
Why the CYBER Rally?
The rally began shortly after the L2 network’s token secured a fresh exchange listing in South Korea’s Upbit exchange, where high retail trading volumes usually accelerate price movements. Eventually, the fast liquidity boost fostered more aggressive buying and fueled FOMO (Fear of missing out) among traders.
The token’s jump also aligned with renewed investor enthusiasm following previous backing from YZi Labs (Formerly Binance Labs) and collaborations with major Web3 players like Animoca Brands and zkLink. Such announcements have historically ignited sharp upward moves for the L2 network’s token, as the Institutional backing strengthens users’ confidence.
Notably, the recent rally comes after Enlightify, a company rooted in agriculture and fertilizer, committed $20 million to accumulate the L2 network’s tokens. The move will be executed through a dollar-cost averaging strategy over the next 12 months via its blockchain arm, Antaeus Tech. The initiative marked the first time a publicly traded firm added CYBER to its treasury.
Meanwhile, Users are bullish and excited about its role in social networking. Its community believes the network’s products, such as Cyber AI and Surf AI tools, are growth drivers. At press time, the asset has now dropped by 36%, following the initial listing hype. Trading at $2.89 still puts it in the positive zone of over 51% gain within the past few hours.
The Layer-2 Sector Grows
Layer-2 refers to blockchain scaling solutions built on top of a Layer-1 network like Ethereum, Bitcoin, or Solana. They are mainly designed to increase transaction throughput, lower fees, and improve user experience without compromising the security of the parent chain. They work by processing most transactions off-chain while periodically settling them on the main chain.
Over the past two years, Layer-2 adoption has accelerated, fueled by DeFi growth, NFT trading, and the ecosystem’s need for faster, cheaper transactions. Platforms like Arbitrum, Optimism, zkSync, Base, and Starknet have attracted billions in total value locked (TVL). The sector has become more competitive, with new solutions surfacing.
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