Secret
About Secret
The price of Secret (SCRT) is $0.18469289 today, as of Sep 16 08:16 p.m., with a 24-hour trading volume of $1.68M. Over the last 24 hours, the price has decreased by -5.53%. Secret currently has a circulating supply of 288.66M and a market cap of $53.31M.
SCRT is the native token of the Secret Network, a privacy-preserving blockchain built on Cosmos. It employs the use of secret contracts, smart contracts that can transfer private information without exposing the encrypted data they process.
SCRT started trading on Binance on September 29, 2020, at a price of 45 cents. It sank shortly after the launch, hitting its all-time low of 25 cents the following month. The price of SCRT rose to $4.75 in April 2021, before crashing to just about 80 cents in July of that year.
SCRT’s big break in 2021 arrived in October, the month before bitcoin hit a record price of almost $70,000. On October 28, 2021, SCRT traded at its all-time high of $10.64. A subsequent period of volatility preceded a dramatic crash: SCRT fell to $3.83 in December before rising to $9.52 in January 2022. After that, its price nosedived over the next six months, sinking as low as 96 cents by June.
The Secret Network targets an annual inflation rate of about 15%. Stakers receive 85% of these rewards, and the rest fund the Secret Foundation. However, this annual inflation rate is dynamic. If less than two-thirds of SCRT’s supply is staked – locked up in the protocol by validators – the annual rate of inflation can increase to a maximum of 20%. If stakers have locked up more than two-thirds of the supply, SCRT’s annual rate of inflation can decrease to as little as 7%.