Supply chain management continues to exist an of import area of focus and business organization for the global economy, especially with the current shipping backlog at major ports beyond the globe and the dwindling supply of items available on store shelves.

Interestingly, OriginTrail — a logistics and supply concatenation direction-focused blockchain protocol — has been gaining traction over the past couple of months. And this week, the project's TRAC token hit a new all-time high.

Data from Cointelegraph Markets Pro and TradingView shows that afterward hitting a low of $0.278 on Aug. 29, the price of TRAC has vaulted 306% to a new record loftier at $1.39 on Oct. 28 as its 24-hour trading volume spiked from an boilerplate of $iv.66 meg to $11.55 million.

TRAC/USDT 4-hour chart. Source: TradingView

Let's accept a look at what might be behind TRAC's electric current rally to new highs.

Decentralized knowledge graphs

On Oct. i, OriginTrail rebranded itself as the "globe'south first decentralized cognition graph" designed to "organize humanity's most of import avails, making them discoverable, verifiable and valuable."

The idea behind the rebrand is to help ameliorate convey the network's ability to take the current ecosystem of siloed information spread out beyond Spider web ii.0 and integrate it with the evolving Spider web 3.0.

Information capable of being stored and tracked on OriginTrail includes information virtually physical goods besides as digital goods and assets, and the protocol and makes it discoverable and verifiable on its Spider web 3.0-capable decentralized network.

This includes concrete appurtenances such every bit fine art and farm-to-tabular array food items too as digital items such as nonfungible tokens (NFTs), certificates, diplomas and decentralized finance (DeFi) assets.

The project has also benefited from high-profile partnerships, including the use of OriginTrail protocol to host the Browse Trusted Factory solution that was developed between the Supplier Compliance Inspect Network (Browse) and Great britain's BSI Group.

Related: Truly decentralized finance will be across siloed blockchains

Supply chain disruptions and the ascent of Web three.0

Some other reason for the recent rally is the massive struggle the global supply concatenation is having with shipping, offloading, tracking and delivering appurtenances to merchants.

Since the showtime of the COVID-19 pandemic, stories of item shortages have dominated the news headlines, and the global supply concatenation has been under pressure, with gaps in deliveries condign a common occurrence.

Currently, in that location are multi-month-long backlogs at ports around the world, and a microchip shortage has stalled the development cars, consumer electronics and other loftier-utilize electronics.

Along with TRAC, multiple Spider web 3.0 protocols accept seen their native tokens establish new record highs in recent days, including Most Protocol, Verasity and Harmony.

According to data from Cointelegraph Markets Pro, market atmospheric condition for TRAC take been favorable for some fourth dimension.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (greenish) vs. TRAC cost. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score for TRAC began to pick upwardly on October. 4 and climbed to a high of 77 around 48 hours earlier the price increased 180% over the next three weeks.

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