The $ANY token, the currency of the Anyswap platform recently enjoyed a price upsurge of over 90% in the past week. The price upsurge may suggest that multi-chain swaps are gaining traction in the crypto space.
The Rise of Multichain Swaps
According to metrics from the official Anyswap Twitter account, the multichain swap space has grown massively in less than one month. On Apri 16th, the cross-chain space boasted a Total Value Locked of $203 million. In less than one month, that is, at the moment, this value has almost doubled, taking the cross-chain TVL to $374 million.
Additionally, ten more cross-chain tokens are supported and two more MPC nodes have been added. A more impressive increase is the daily volume increase in the past month. As of April last month, multichain swaps had a 24-hour volume of $14.12 million. This value has increased rapidly since then and the space currently has a 24-hour volume of $110 million.
Anyswap Token’s Growth in the Past Month
Anyswap started the month of April trading around $2.6, a significantly high price when compared to its lows. It eventually closed at $4.79 last month. However, that was just the beginning of a bullish motion for the swap token which currently trades above the $9 price mark.
In the last 24 hours, the token had a trading volume of over $5 million. Despite the upsurge in price in the last week, the token has settled a bit and currently trades at a price level slightly lower than its all-time high. It reached an all-time high of $11.19 on the 3rd of May. It is however 20% shy of that feat at the moment.
The market capitalization of the token has reached $155 million in just about one year from its launch. Although its crypto market dominance is relatively small, the relatively new swap platform has been quite prominent in its sub-niche.
The ANY token has grown significantly in the past month with more users trading the token on various exchanges. At the moment, Sushiswap is the most active market trading it. Other platforms and exchanges that feature the token include; Uniswap, MXC, 1inch LP, and Bitrue.
Given the use-case and functionality of the token, more users tend to invest in the project. Anyswap innovates the DeFi space and integrates cheap and secure swaps for users of the blockchain to benefit from.
Anyswap allows users to be able to swap their tokens effortlessly. Users can swap their Bitcoin, Litecoin, Ripple, Ethereum, and many other tokens on the platform. The swapping can also be done for tokens that exist on different blockchains or networks. Swapping tokens on Anyswap is fully decentralized and the operation is also secure for users.
Conclusion
Multichain swaps or exchanges have experienced significant growth within a limited period of time. More blockchain users are appreciating the usefulness of multichain swaps and are beginning to utilize them . It is expected that this sub-niche in the blockchain ecosystem will gain more traction and continue in its growth trajectory in the coming years.
Source : bsc.news
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