Data collection, aggregation and assay take go some of the largest profit generators for companies like Facebook and Google who have designed an array of algorithms purposed with harnessing user data in order to better optimize the user interfaces of their applications and their online marketplaces.

While collecting the information is the ultimate objective, the events of the by few years have besides shown that securing it and ensuring that the privacy of customers and users is protected is imperative.

Combining data collection with the ability to securely store it on a distributed ledger seems similar a natural fit, and Ocean Protocol (Sea) is one blockchain project that is looking to capitalize on the monetization of data.

Data from Cointelegraph Markets and TradingView shows that the price of Bounding main has increased 240% year-to-engagement as information technology rose from $0.31 on Jan. 1 to $1.38 on Feb. 12. Bitcoin'southward recent sell-off from its $58,300 all-fourth dimension high, caused Sea to correct sharply but as the market place recovered, the altcoin was able to secure a swing high at $1.19 on March 3.

Ocean/USDT iv-60 minutes chart. Source: TradingView

Iii reasons for the continued strong performance for Ocean include new listings at major exchanges, the integration of governance features with OceanDAO, and the growth of its data sets market place where token holders can earn a yield.

Major commutation announces support for OCEAN

On March ii OCEAN announced that the token would be listed on Kraken which is the fourth-largest cryptocurrency exchange in the world.

Following the declaration, Sea price spiked 30% from $0.89 to a high at $one.xvi and its 24-hour trading volume saw a 246% increase to $90 million.

VORTECS™ data from Cointelegraph Markets Pro began to discover a bullish outlook for Ocean on Feb. 28, prior to the recent cost rising.

The VORTECS™ score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market place weather condition derived from a combination of data points including market sentiment, trading book, recent price movements and Twitter activity.

VORTECS™ Score (greenish) vs. Sea toll. Source: Cointelegraph Markets Pro

As seen in the nautical chart above, the VORTECS™ score reached a high of 74 on Feb. 28, roughly 46 hours before the price spiked on March ii.

New governance features encourage community involvement

New features on OceanDAO appear to be the motivating cistron for Sea'due south bullish price activity equally token holders have an increased say in the cardinal decisions that guide the project.

OceanDAO was announced on November. 30, 2020, as a way for community members to go involved in the evolution of the protocol. It is a customs-led funding project that allows token holders to vote on which projects should receive a DAO grant to help them build a new characteristic, conduct outreach marketing, or unlock information.

For voting purposes, each Sea token equals one vote, and those wishing to participate must do then from a wallet they control. The third circular of voting on OceanDAO began on March ii, which also coincides with the increment in the altcoin's price and trading volume.

Oceans adds data set yield farming

The third force helping to drive Sea price higher is its expanding data sets marketplace that allows users to deposit tokens aearn a yield.

Originally launched as part of Bounding main v3 in September 2020, Bounding main Markets is an open-source customs marketplace where users can publish, price, curate, discover, purchase and consume data.

As the marketplace evolved so has its functionality. Currently, token holders are able to earn a yield on their tokens by staking them in a particular information set to earn liquidity provider fees.

Users looking for deeper involvement can besides publish and sell data on the market or build and launch their own market every bit a way to increment their earning capabilities.

The need for sourcing, distributing, and securing data is guaranteed to grow over the coming years and  Body of water protocol appears well-positioned to take reward of this growing market. The inclusion of governance features and opportunities to earn a yield but make the project more attractive to investors looking to brand strategic investments in the decentralized finance sector.

The views and opinions expressed here are solely those of the author and practise not necessarily reflect the views of Cointelegraph.com. Every investment and trading motility involves risk, yous should conduct your ain research when making a decision.