Taboo, an entertainment platform that prioritizes user privacy and is censorship-resistant, has raised $10m at a $250m valuation.
TABOO’s blockchain content creation and distribution
Taboo offers users a secure environment to share their thoughts and ideas without fear of surveillance or censorship. The platform leverages blockchain technology and cryptographic protocols to keep user data private and secure while enabling users to retain full control over their data. Additionally, Taboo uses its native TABOO token to incentivize content creators and facilitate on-chain transactions.
The successful fundraising highlights the potential of Taboo’s unique value proposition. The platform’s focus on privacy and censorship resistance is relevant, considering increased online surveillance and censorship.
TABOO is finalizing a deal led by a former JP Morgan executive. The new partnership is set to be a game-changer for TABOO as the executive brings extensive finance industry experience, including risk management and investment banking expertise. The collaboration could drive growth and solidify Taboo’s position in the adult entertainment industry.
Additionally, TABOO’s native token has been rallying. The token’s success can be attributed to the unique value proposition that TABOO offers in the adult entertainment industry with its blockchain-based content creation and distribution platform. TABOO’s rally reflects the increasing demand for secure, decentralized platforms in the adult entertainment industry and the potential for innovative blockchain solutions to disrupt traditional models.
TABOO may break out upwards
TABOO/USD has been in a tight range over the past few weeks, trading between $0.004123 and $0.004289. TABOO could rally if bulls can recapture the $0.004289 resistance level.
The TABOO/USD pair is trading at $0.00417, down by 0.51% in the last 24 hours. Most of the technical indicators are bearish, with the MACD, RSI, and Stochastic all signaling a bearish bias. The Relative Strength Index (RSI) is at 35.42, leaning downwards, while the EMA20 is trading at $0.00418, showing bearish sentiment in the market.
The critical support and resistance levels to watch are $0.004123 and $0.004289, respectively. If prices can break above the resistance level, we could see a bullish breakout that could see prices rally higher in the near future.
The TABOO token is critical for the Taboo ecosystem, with its utility expanding as the platform grows. The token can incentivize content creators, facilitate transactions, and participate in platform governance. Additionally, they plan to integrate TABOO with other decentralized finance (DeFi) protocols, expanding the token’s use case.
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