OriginTrail (TRAC) coin started the day on a very bullish stance surging by more than 24% to hit a daily high of $0.7238, before retracing to its current price at $0.672343.
The coin was still in the green at the time of writing and the Bull trend seems to be gathering momentum by the day.
In this article, we shall look at what is causing the price of OriginTrail (TRAC) is surging.
Why is OriginTrail (TRAC) rising?
Before getting into the details of what is fuelling the TRAC’s price uptrend, it’s important we explain what TRAC is.
TRAC is the native token of the OriginTrail protocol, a logistics and supply chain management blockchain protocol that aims at becoming the first decentralized knowledge graph (DKG).
On to the reasons why the price of TRAC has been on a relentless Bull Run over the past couple of weeks. There are three main factors currently being attributed to TRAC’s price rise and they include the Current rollout of OriginalTrail v6, AidTrust Launch, and Transitioning to Web3 and Polkadot integration.
Current rollout of OriginalTrail v6
The current rollout of OriginalTrail running on the testnet is the first major factor that has greatly impacted TRAC’s price.
The @origin_trail v6 testnet is growing into a beast! This week we reached a new record of 156k publishings measured in 24h, which is ~500x improvement over the highest seen number on previous DKG versions. And we are only getting started 1/4 https://t.co/2ZVXuFwSNU
— Brana Rakic – OriginTrail (@BranaRakic) March 18, 2022
According to the team, v6 will help to improve the performance of the network as the next evolution of DKG by introducing new features like interoperability with legacy knowledge graphs (Google Knowledge Graph) and Universal Asset Locators.
Interested users will also have a chance to contribute to the community by setting up a v6 node that will enable them to earn TRAC as well as support the entire OriginalTrail network.
The second factor propelling the current TRAC price surge is the launch of AidTrust which combines the capabilities of BSI UK and DKG to ensure transparency in pharmaceutical supply chains. AidTrust will ensure that donated medicine will reach the intended patients on time.
AidTrust, a joint @TraceLabsHQ & @BSI_UK product that uses @origin_trail DKG to provide visibility & trust in pharmaceutical supply chains is currently being rolled out to 80+ treatment centers across India 🇮🇳.
Learn more about AidTrust👇https://t.co/CSeYjJG88X
— OriginTrail (@origin_trail) March 17, 2022
Pharmaceutical manufacturers and NGOs will also be able to monitor the distribution of the donated products and identify any possible risks in real-time and make decisions based on secure data using AidTrust.
Besides, AidTrust is being implemented in over 80 treatment centers in India and there are more plans to roll out the platform and add another 40 countries worldwide.
Transitioning to Web3 and Polkadot integration
The transition to Web3 is another reason for the TRAC’s price surge. DKG helps to organize, monitor, and verify both digital and physical assets by making them discoverable on the blockchain.
Blockchain technology is being integrated into the internet to power the digital world, with projects like OriginTrail helping to track data.
OriginTrail is also seeking its integration with the Polkadot ecosystem by creating an OriginTrail parachain that will facilitate oracle functionalities to any Polkadot parachain interested in DKG integration.